President Alvi calls for steps to promote chemical industry

President Alvi calls for steps to promote chemical industry

President Alvi calls for steps to promote chemical industry
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LAHORE: President of Pakistan Dr Arif Alvi on Wednesday has stressed the need for taking effective measures for promoting the chemical industry.

“The chemical industry is performing far below its actual potential. There is a need to bring ease in doing business to encourage investment in the sector having enormous growth potential,” he said while speaking at the inaugural session of the two-day exhibition and conference “Pakistan Chemical Expo 2022”.

Pakistan Chemicals Manufacturers Association (PCMA) arranged the event where more than 100 domestic and international companies are participating in the exhibition.

Research and teaching institutions related to chemicals are also participating in the exhibition, including the country’s leading universities and related public and private institutions.

Dr Alvi said that only a limited number of companies are operating in the country which are not enough to reap the benefits of the actual potential of the chemical industry.

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Appreciating the role of the PCMA in strengthening government-industry linkages, he assured full support for the development and promotion of the industry.

PCMA Chairman Jahangir Piracha said that the chemical industry is the third fastest growing industry in the world. Despite the importance of this industry, the opportunities in Pakistan could not be utilised, he added.

The PCMA is making efforts to introduce bio-economy projects along with advocacy for long-term petrochemical projects to utilise available resources.

He appealed to the government to formulate a coherent and effective chemical policy in consultation with all stakeholders including the PCMA for the development of the chemical industry.

PCMA Senior Vice Chairman Haroon Ali Khan said that the purpose of organising the exhibition is to highlight the potential of trade and investment in the domestic and international chemical industry.

The exhibition will provide a platform to bring other chemical-related sectors together, creating new opportunities for joint ventures, he added.

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