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September 17, 2020

PCMA proposes chemical ministry

Business

September 17, 2020

LAHORE: Pakistan Chemical Manufacturers Association (PCMA) has proposed to set up a chemical ministry for the development of the chemicals industry in Pakistan at par with the neighbouring countries such as China and India, a statement said on Wednesday.

Addressing the inaugural ceremony of PCMA new office, its Chairman Abrar Ahmad said that China’s development took place after establishment of chemical ministry.

The chemical industry was the basic industry for enhancing value addition in all the industrial sectors, he said, adding that even the textile industry, the largest sector of Pakistan, is dependent on chemicals and various chemicals to be used in this sector are being imported from abroad by spending huge foreign exchange. Ahmad said that by developing chemical industry in Pakistan, foreign exchange of up to $5 billion can be saved by producing import-substitute-chemicals within the country.