The Chemical Sector

The Chemical Sector

  • Submitted By: ahla
  • Date Submitted: 09/23/2010 2:41 AM
  • Category: Business
  • Words: 473
  • Page: 2
  • Views: 336

Chemical Vision 2020’: Govt to make action plan by January 2008
By Ijaz Kakakhel

ISLAMABAD: The federal government has decided to make an action plan titled ‘Chemical Vision 2020’ by mid of January 2008.

The chemical sector is one of the five highest growth and globally traded sectors. During the last fiscal year 2006-07, the world market for chemical sector remained at $1.8 trillion and is mainly dominated by USA, Europe and Japanese companies. Pakistan during 2006-07 imported chemicals worth nearly billion of rupees that is 12 percent of the total imports while exports were only $200 million that is 1.3 percent of the total Pakistan exports. The import was mainly concentrated in the plastics, organic, inorganic chemicals and special chemicals etc.

For the last few years the demand for chemical products was high, mainly the fertiliser inputs, Chlor-Alkali, pesticides and plastic inputs for use in packing, auto, electronics, house hold items, cables, pipes and fittings etc, besides the high use of chemicals in the processing of textile, leather, carpets etc. The high consumption of chemicals in various sub sectors of the economy now speaks of the high potential in the local manufacturing, value addition and formulation etc.

At present, the existing manufacturing capacity is small, both in level and scale; the productively levels are relatively low, research and development to improve chemical reactions, process, molecular formation and beneficiation of locally available minerals remain low.

For establishment of ‘Chemical Vision’, the ministry of industry, production and special initiatives and engineering development board held first meeting on August 28, 2007. Participants of the meeting were of the view that manufacturers had an inward approach by concentrating on the local market and ignoring a huge international market.

Due to absence of clear policy framework on the development of chemical sector with any road map and benchmarks has...

Similar Essays