Pakistan’s chemical industry seeking govt’s patronage to play due role in economic revival


LAHORE – Pakistan’s chemical industry and its related community have sought government patronage to enable the sector to play its due role in reviving the ailing economy.

CEO Bin Rasheed Moazzam Rasheed addressing a presser at Lahore Press Club said that the industry has huge potential which could be utilized for bridging the ever-increasing trade deficit through import substitution and increasing exports.

Rasheed briefed the media about the upcoming three-day mega exhibition dubbed Pakistan Chemical Forum scheduled to be arranged at Expo Centre Lahore from May 18 to May 20. Pakistan Chemistry Council and B2B Media (Pvt) Limited are jointly organizing the event.

The show is serving as the biggest trade platform to showcase chemicals, raw materials, plants & machinery, analytical equipment, and finished products. It aims at providing a platform for industry-academia linkage and also serves as a milestone step for enhancing the exports of Pakistan in general, and image building of the country at the international level in particular. The trade show and conferences cover a wide scope through focus themes.

It was learnt that Minister for local government Ibrahim Hassan Murad will inaugurate the event.

A vast range of products from local and foreign companies from paint, footwear, construction, sealants, total lab solution provider for analytical instruments, consumables, and testing services to various other products will be displayed at more than 250 stalls.

It is expected that more than 120 delegates from Europe, Japan, China and Middle East will attend the exhibition. Seminars and conferences will also be part of this show where participants will get a chance to attend presentations of key personnel from industry and academia.

A new concept of ChemSMART will be introduced.  The basic concept behind the smart startup’s program is that new graduate will present their innovative ideas to the business leaders in the relevant field during Pakistan Chemical Forum.

Flanked by organizers of the event, Moazzam Rasheed has urged the government to facilitate setting up the first naphtha cracker in the country to reduce reliance on imports.

“It will help reducing trade deficit through import substitution and then export of the finished products. Yes, it is a project needing billions of dollars in investment. Government can either execute the project through a consortium or under CPEC”, he said, adding that the project can attract foreign direct investment and generate thousands of jobs. He said that political stability is a key to attract FDI and encourage local enterprise investors to spend money on projects of national interests.