LAHORE: President of Pakistan Dr Arif Alvi has said that immediate steps are indispensable to create business ease in the chemical industry considering the economic situation and the prospects of development in this industry.

Speaking on the occasion of the inauguration of the two-day exhibition and conference “Pakistan Chemical Expo 2022” held in Lahore under the Pakistan Chemicals Manufacturers Association (PCMA), the president said that despite the vast size of the chemical industry, the number of industries working in this industry is limited.

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

More than 100 domestic and international companies are participating in the two-day 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.

Speaking on the occasion, PCMA Chairman Jahangir Piracha said the chemical industry is the third fastest growing industry in the world. Despite the international importance of this industry, the opportunities found in Pakistan could not be utilised.

He said that PCMA is engaged in efforts to introduce bio-economy projects along with advocacy of long-term petrochemical projects to utilize available resources in Pakistan. 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.

Copyright Business Recorder, 2022