Support for research and development work was sought for domestic production of such chemical products which were being imported by spending a huge amount of foreign exchange.
Federal Minister for Science and Technology Fawad Hussain Chaudhry has pledged support to the research and development requirement of projects proposed by the Pakistan Chemical Manufacturers Association (PCMA).
Support for research and development work was sought for domestic production of such chemical products which were being imported by spending a huge amount of foreign exchange.
PCMA Chairman Abrar Ahmad, in a statement issued on Tuesday, appreciated the federal minister for his remarks in a meeting with a PCMA delegation the other day that manufacturing of essential chemicals would be promoted in the country under the “Made in Pakistan” programme.
The chairman said the minister agreed to fund the PCMA research reports and would also help complete business plan on the naphtha cracker and chlorine chain by allocating $100,000 for each of them.
He said the availability of naphtha cracker would result in import substitution and export promotion for chemicals in Pakistan.
“Despite the absence of this basic requirement (naphtha cracker complex) so far, the sector is contributing $747 million in exports,” Ahmad stated. He voiced hope that exports would increase manifold after the setting up of the complex.
Originally published at Tribune