Draft 'Chemical Vision-2030' presented to EDB

Draft Chemical Vision-2030 prepared by a consulting firm was presented to Engineering Development Board (EDB) here on Wednesday. In a meeting chaired by Asad Elahi, CEO EDB, the consultants briefed the participants about the historical development of chemical industry in the world. Reviewing the existing global scenario of chemical sector, they informed that over 70,000 products are being produced world-wide in this sector.
They highlighted the role of the sector in development of industrial economies like USA, Japan and Canada through the development of engineering products, household and industrial consumables, herbal and other medicines, human organs, and many more products.
Development of chemical industry in Malaysia, Korea, and other regional countries was also discussed in detail. They presented historical background and existing status of the chemical industry in Pakistan and the confronting issues and problems.
The team suggested a separate division for development of chemical sector in the country. They emphasised on the promotion of R&D activities in Pakistan for the creation of our own technology and floated the idea of "National Innovation System". In another suggestion a withholding company for capital formation is also recommended. The sector has the potential to become engine of growth in Pakistan with realistic policies adopted by the government, the consultants said.
Asad Elahi, CEO, EDB emphasised to develop local chemical industry based on indigenous raw materials capable of meeting local market requirements and can export surplus. He added that plastic industry also needs encouragement on account of its important role in development of economy. He stressed upon the inclusion of the recommendations to create institutes for skill development and enhancements of technical how know to provide trained manpower to industry.
The CEO drew the attention of the participants to rich resource advantage of the country and underlined the need of industrial development on it to produce value-added products. He urged that the Vision should also contain incentives package to attract investment in the chemical sector. He was of the view that specific projects should be identified so that their pre-feasibility reports could be prepared.
It was decided that a separate chapter on the proposed tariff structure of the chemical sector will be added in the Vision with the assistance of EDB. The draft Vision has pinpointed main impediments in development of the chemical sector in the country and blamed undeveloped R&D and lack of facilities for new technologies for it. The draft will be studied in depth by EDB and its inputs will be forwarded to the consultants. Later the final recommendations will be shared with all stakeholders.