Chemical sector to set up units with Chinese help
After withdrawal of protection, Lotte Chemical has been suffering losses or the last 4 years. PHOTO: PR
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 29th, 2023.
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