Chemical sector pays for imports in PKR

PCMA says move will pave the way for more and will relieve country’s forex reserves

Pakistan’s chemical industry imported its first ever raw material consignment from Saudi Arabia in Pakistani rupees, paving the way for further imports in the local currency and relieving pressure from the country’s dwindling forex reserves.

Speaking at the inaugural session of the two-day “Pakistan Chemical Expo 2023”, Pakistan Chemicals Manufacturers Association (PCMA) Chairman Jai Kumar said, “To exploit the chemical sector, PCMA is not only advocating for long-term petrochemical complex projects but is also introducing bio-economy projects to take full advantage of the resources available in the country.”

Governor Punjab Muhammad Balighur Rehman appreciated the industry’s efforts to highlight the investment and trade potential in the chemical industry by holding the Expo and said, “Considering the growth opportunities present in the chemical sector, and the current economic situation of the country, it has become imperative to take immediate steps to facilitate the ease of doing business in this industry.”