ISLAMABAD: The government is reportedly considering granting industry status to packaging sector on the requests of Federation of Pakistan Chambers of Commerce and Industry (FPCCI), Government of Punjab and All Pakistan Corrugated Cartons Manufactures Association (APCCMA), well-informed sources told Business Recorder.
The FPCCI, in its letter to the concerned Ministries has drawn attention towards importance of the packaging sector in Pakistan, adding that the packaging industry plays a crucial role in the nation’s economic landscape.
This sector is not merely a supporting function but a fundamental component of all industries. Packaging Industry’s significance indicates that manufacturing cycle of any product cannot be completed without it.
FPCCI team meets minister: Govt urged to grant industry status to packaging sector
According to the FPCCI, despite its pivotal role, the packaging sector does not yet enjoy official industry status. This oversight hinders its potential and limits its ability to contribute fully to the country’s economy.
The FPCCI has claimed that the sector is indirectly contributing 10% or $3 billion to total exports of the country. It has vast potential to export directly. The overall industrial size of the industry is estimated to be $ 5.5 billion and at present, provides employment opportunities to 1.5 million individuals directly or indirectly.
The industry is predominantly composed of SME’s, which constitute a significant portion of the country’s industrial landscape. Strategic domestic production would reduce the import bill.
According to the government of Punjab’s Industries, Commerce, Investment & Skills Development Department, a delegation of Printing and Packaging Business Forum (PPBF) comprising different associations and key stakeholders relating to packaging industry had a meeting with the Minister for Industries .
The delegation requested the grant of industrial status to printing and packaging sector. Accordingly a Joint Working Group (JWG) under the convenership of CEO PBIT was constituted to deliberate upon the matter and finalize a comprehensive proposal for grant of industrial status to packaging and printing sector.
The JWG held several meetings after which it was decided to refer the case to the federal government to grant the status of industry to packaging and printing sector.
Copyright Business Recorder, 2024
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