Business

Chemical sector to set up units with Chinese help

Beijing has modern technology that can lift chemical industry under CPEC programme

APP June 29, 2023

After withdrawal of protection, Lotte Chemical has been suffering losses or the last 4 years. PHOTO: PR

KARACHI:

Pakistan’s chemical manufacturers have voiced hope that they can set up chemical factories in collaboration with China.

“China has modern technology and we can improve our chemical sector by collaborating with our brotherly nation under the China-Pakistan Economic Corridor (CPEC),” said Sheikh Muhammad Nadeem, Chairman of Pakistan Chemical Dyes Merchants Association (PCDMA). “Improved industry can generate employment as well.”

Earlier in June, Chinese Consul General in Karachi Yang Yundong, while delivering a speech at an event hosted by PCDMA, appreciated the association’s contribution to Pakistan-China cooperation and highlighted the fruitful results of CPEC programmes.

“Over the past decade, CPEC has laid a solid foundation for Pakistan’s economic and social development. In the next step, the two countries will broaden the scope of cooperation and continuously enhance cooperation in the fields of industry, agriculture, culture, science and technology,” Yang elaborated.

He encouraged the association to seize the opportunity to strengthen its connection with the relevant Chinese industries and assured it that the Consulate General would maintain close exchanges with Pakistani business communities to boost bilateral trade and promote the development of relevant industries.

“In Pakistan, the development of chemical industry has not received enough support. People set up industries on their own,” the PCDMA chairman said.

“Besides, there are no proper labs. Private labs are there, but they are costly. Therefore, the cost of making products is expensive. That’s why we want to build connections with the Chinese chemical companies.”

He also expressed gratitude to the Chinese Consulate General for its strong support to Pakistan-China economic cooperation.

“We hope that interactions between enterprises of the two countries will be strengthened in the post-epidemic era to further promote the development of the industry,” he said.

THE ARTICLE ORIGINALLY APPEARED ON THE CHINA ECONOMIC NET

Published in The Express Tribune, June 29^th, 2023.

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COMMENTS (1)

test | 1 year ago | Reply Vehicle sector to setup manufacturing units with Chinese help. Electronics sector to setup manufacturing units with Chinese help. Computing units to setup computer parts maufacturing units with Chinese help. Medical Device sector to setup advanced medical machinery manufacturing units with Chinese help. Someone observed it rightly which is that I look the relations with other countries through the prism of industry technology transfer machines trade investment etc. Long Live China Pakistan brotherhood. Long Live Machines. Long Live Industry. Long Live Chinese. Long Live CPEC. I hope poor countries will setup industrial units in their countries to improve the likelihood of their people by giving them jobs. Industrial linkages and Technology transfer are fundamental to the development of poor countries. Countries must look for raw materials in their country at massive scale and then sell value added branded products so that they could earn a lot more money they are normally earning. Poverty Unemployment Trade Deficit Fiscal Deficit Current Account Deficit Lack of Taxation Policies and Poor handling of resources at massive level often leads to disastorous effects for the economy which will take decades to repair. And also not every country has a brother like China. Even if I have to give up my life to prove my loyality to China I will not hesitate in doing it.

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