An 18 member delegation from Pakistan Chemical Manufacturing Association (PCMA), recently met with the Minister for Planning, Development and Reforms, Ahsan Iqbal, in Islamabad. A proposal to provide a local platform to aid economic and industrial growth was forwarded by the delegation.
In response to the proposal, Ahsan Iqbal has announced the construction of a Naphtha Cracker Complex, the first of its kind in Pakistan. A state-of-the-art facility to convert petrochemical raw substances into value-added products, ranging from construction, home décor, appliances, furniture, medical care, paints, cleaning stuff and even military gadgets.
This news comes as a promising development as the economy annually suffers a heavy toll from rising import bills and countless items when purchasing petrochemical feedstock from the international market.
Since its inception, Pakistan has desperately needed its own plant to manufacture local produce to transform the industry and allow it to grow at an unprecedented rate. However, in comparison to India’s nine plants, Pakistan’s industry was left depending on foreign import.
If aptly materialized, the NCC facility will prove to be a strategic move to revolutionize the industrial landscape. Moreover, with the current wave of development under the CPEC banner, an NCC facility will prove beneficial in providing tremendous mileage to all industrial zones along the route.
The Minister has requested the delegation to formulate a feasibility report and construct a viable business plan through thorough consultation. The PCMA, catering to a practical approach, will also derive a 10 year roadmap for the chemical industry.
The minister also applauded the PCMA’s delegation on their recent venture to China where the latter concluded successful talks with China’s chemical giants. In an attempt to fuel the chemical industry in Pakistan, the delegation has signed agreements with China on 33 projects and joint ventures.
To further educate the masses on Industry-academia linkages, the ministry disclosed plans to host a round table conference involving PCMA officials, HEC and all the heads of chemical/chemistry departments of major universities in the mid of February.
A promising possibility for future development, the NCC will prove vital for the growth and prosperity of the nation and will relieve the economy of unnecessary burdens by facilitating the industries with local products.
Source: Profit, The Nation
There are zero plans to build one. Misleading headline.
Or maybe “alternative headline” ha ha!
a naphta cracker plan was first proposed in the sixties during pres.ayub’ time.after he lft it was not heard of again
this time no zero plan because MOUs already signed. No more Joke with beloved Pakistan anymore. Be positive.