EFP, TDAP join hands for efforts to turn minerals into value-added chemicals

KARACHI: Employers’ Federation of Pakistan (EFP) has signed a monumental Memorandum of Understanding (MoU) on the “Minerals Development Program” with the Trade Development Authority of Pakistan (TDAP) at the TDAP office. Ismail Suttar, President EFP and Younus Dagha, Chairman Minerals to Chemicals Committee represented EFP in this mutual collaboration with Trade Development Authority of Pakistan represented by Ahsan Ali Mangi, Secretary TDAP.

The Minerals to Chemicals Committee was instituted by the Employers’ Federation of Pakistan to explore the hidden potential of 92 minerals of Pakistan that are exploited and exported in raw form contributing only 3 percent to the GDP of the country. President EFP envisioned broadening the spectrum of the minerals sector through conversation into value-added chemicals.

Secretary TDAP applauds EFP for its efforts in promoting value-addition of minerals to chemicals and proposed a joint plan of action to be formed that was officially signed in a ceremony followed by an active brainstorming session which was attended by board of directors of EFP along with its young researchers, industrial stakeholders, and officials from TDAP to implement the action plan to revive the ailing sector through Value Addition of minerals of Pakistan.

The implementation of this MoU in a years’ time will lead to establishment of new industries, enhancement of trade value through exports of value-added products and tapping new regional and export markets, says Ismail Suttar.

President EFP also states that we have worded the action plan very carefully to benefit the SME sector at large and develop the minerals sector through geo tagging of mineral reserves on Pakistan Map that will be updated on annual basis and will show a real time data that will make the investors comfortable while exploring new business avenues in this sector.

The main work will start from the implementation of Phase-II of this MoU that is development of state-of-the-art mineral research laboratory that will be operated by EFP.

Copyright Business Recorder, 2022