Punjab Governor Muhammad Balighur Rehman has said that immediate action must be taken to make it easier for the chemical industry to conduct business given the development prospects in the sector and the country's present economic predicament. He was addressing at the Pakistan Chemical Expo 2023's opening event, which was organised by the Pakistan Chemicals Manufacturers Association (PCMA). The governor said that organising the exhibition to promote the business and investment opportunities in the chemical sector is a wise move.

This expo would be crucial in introducing and promoting Pakistan's chemical sector on the global market, he said. He expressed his satisfaction with the fact that Pakistan's chemical sector recognises its corporate social responsibility and has consistently adhered to the Sustainable Development Goals of the United Nations for the improvement of the environment.

According to the governor, immediate action is required to set up government facilities for business and investment in the chemical sector given the country's current economic condition. He hoped that the PCMA will continue to play a crucial part in developing partnership between industry and the government and in looking into new international prospects.

He said that the government will support this effort in every manner possible, in addition to introducing incentives and facilities to advance the chemical industry. Khyber Palkhtunkhwa Governor Haji Ghulam Ali said that the exhibition will boost Pakistan's chemical sector in breaking into the global market. The economy of the country will benefit from the importation of raw materials in Pakistani rupees, he noted.

PCMA Chairman Jai Kumar said that the next conferences will have presentations by eminent scientists from more than 15 different countries and more than 100 industries associated to the chemical industry. He said that despite its significance, Pakistan's chemical industry has not yet been fully used. This is the rationale for PCMA's introduction of bio-economy projects in addition to long-term petrochemical complex projects, which would help Pakistan fully use its resources.

He added that the Pakistani rupee has been used for the first time to acquire raw materials from Saudi Arabia. To eliminate the barriers and fully capitalise on the potential prospects in this industry, he urged the government to develop a comprehensive and integrated chemical strategy in conjunction with all parties, including the PCMA.

Credit: Independent News Pakistan-WealthPk