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Zafar Iqbal of PCJCCI Advocates for Collaboration with China to Boost Pakistan’s Chemical Industry

Lahore: Zafar Iqbal, Vice President of the Pakistan China Joint Chamber of Commerce and Industry (PCJCCI), has emphasized the need for Pakistan to collaborate with China in order to enhance the country’s chemical industry and shift its focus from being import-oriented to export-oriented. In a session held at the PCJCCI Secretariat with executive committee members, Iqbal discussed the lack of mature technology in Pakistan for producing petrochemical facilities as a major impediment to industry growth.

According to Pakistan China Joint Chamber of Commerce and Industry, Iqbal highlighted the potential for Pakistan to learn from China’s successful chemical industry practices to promote sustainable development. He mentioned that the burgeoning field of biotechnology could significantly revitalize Pakistan’s traditional chemical sector. By leveraging China’s influence in the global biochemical industry, Pakistan could benefit greatly.

Iqbal also pointed out the increasing demand for chemical products in Pakistan due to economic and population growth, which has led to a reliance on imported oil products and posed national security concerns. He suggested that adopting China’s chemical park model could provide essential resources for Pakistan’s small and medium-sized enterprises (SMEs), enabling cluster development.

In his address, Iqbal underscored the importance of establishing chemical industrial parks equipped with necessary facilities like effluent treatment plants and centralized steam generation to lower costs for manufacturers. He noted the Pakistani government’s efforts to develop SMEs through the new SME Policy as a rational step toward industrial growth.

Concluding his remarks, Iqbal stressed that Pakistan’s chemical industry is integral to various sectors, including textiles, agriculture, and pharmaceuticals. He advocated for building a global reputation for “Made in Pakistan” products to strengthen the nation’s economic standing.

The post Zafar Iqbal of PCJCCI Advocates for Collaboration with China to Boost Pakistan’s Chemical Industry appeared first on Pakistan Business News.

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