President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), Atif Ikram Sheikh, has commended Federal Petroleum Minister Senator Musadik Malik and the Director General of Explosives for addressing industry concerns related to the handling, storage, and licensing of hydrocarbons. Sheikh revealed that FPCCI had raised these issues with the DG Explosives after numerous complaints from businesses seeking clarification on the regulation of liquid and mixed hydrocarbons.
While FPCCI acknowledged the response from the ministry, Sheikh emphasized the need for comprehensive amendments to the Petroleum Act of 1934, describing it as outdated and limiting for the petrochemical sector. “Updating this legislation would create a more supportive environment for the industry’s growth,” he noted.
