LCCI praises ministry for releasing imported chemicals from ports

LAHORE: The Lahore Chamber of Commerce & Industry has expressed deep appreciation to the Ministry of Energy’s Petroleum Division for addressing its long-standing demand and releasing imported industrial chemicals and petrochemicals from various Karachi ports. These goods, classified as Class A under the Petroleum Act of 1934, had faced prolonged clearance delays, severely affecting industries reliant on these raw materials.

LCCI President Mian Abuzar Shad, Senior Vice President Engineer Khalid Usman, and Vice President Shahid Nazir Chaudhry praised the Ministry’s prompt action, emphasizing the decision’s importance in stabilizing industrial production and enhancing economic momentum.

It would be worth mentioning here that because of the efforts of the Lahore Chamber of Commerce and Industry, the government has deferred the new Flash Point Standards rules for six months and issued a notification for the release of all containers stuck at the ports.

Recently, the government had introduced new flash point standards, which caused significant challenges for various industries. As a result, containers carrying industrial chemicals and petroleum products were stranded at Karachi ports, threatening to disrupt the industry. In response, the LCCI convened a meeting with key industry associations, including the Pakistan Chemical Manufacturers Association, Pakistan Artificial Leather Manufacturers Association, Pakistan Pharmacists Association, Pakistan Pharmaceutical Manufacturers Association, Pakistan Coatings Association, Pakistan Chemicals and Dyes Merchants Association, Pakistan Crop Protection Association, Pakistan Footwear Manufacturers Association, and others, to address this issue. The LCCI leadership promptly requested the government’s intervention, and the government responded by making a timely and positive decision, instructing Customs authorities to release all consignments under Petroleum Classes A, B, and C.

The LCCI’s efforts received widespread appreciation from key industrial sectors, including textiles, pharmaceuticals, plastics, packaging and chemicals and paid rich tributes to LCCI’s leadership for raising their concerns and ensuring a resolution. Representatives from these sectors appreciated the critical role LCCI played in advocating for their interests and engaging with government authorities.

The LCCI office-bearers said that this timely intervention will alleviate supply chain disruptions and support industrial growth. The Ministry’s responsiveness is commendable and highlights the government’s commitment to fostering a business-friendly environment

They added that the clearance of these essential chemicals will help reduce production costs, enhance export competitiveness and maintain the continuity of industrial operations.

The textile industry acknowledged that timely access to raw materials will help them meet production targets and maintain export commitments. Pharmaceutical manufacturers highlighted the importance of uninterrupted raw material supplies to ensure the availability of essential medicines. Similarly, the plastic and chemical sectors noted that the decision would prevent further production delays and support business continuity.

Mian Abuzar Shad elaborated on the broader economic impact of this decision. He said that the availability of imported petrochemicals is vital for various industries and will ensure stable production cycles. “This decision boosts investor confidence and allows industries to plan their operations more effectively.

The LCCI president said that maintaining a supportive regulatory environment is important for businesses growth. Facilitating the smooth import of essential raw materials is crucial for industrial growth. We appreciate the Ministry’s cooperation and look forward to continued reforms that enhance ease of doing business.

The LCCI leadership stressed the need for long-term policy reforms. Mian Abuzar Shad urged the government to simplify import procedures and modernize regulatory frameworks. He said that we need sustainable solutions that prioritize ease of doing business and align with global standards.

The LCCI office-bearers said that the LCCI would continue to work closely with the government to support industrial growth. “Our mission is to create an enabling environment where businesses can thrive and contribute to national progress.

The LCCI office-bearers expressed their commitment to work closely with government authorities to address future challenges and foster an environment conducive to economic growth and industrial development.

Copyright Business Recorder, 2024