While addressing the 4th Annual General Meeting, the newly elected chairman vowed to lay down a research based strategy for development of chemical industry in Pakistan. Newly elected Senior Vice Chairman and Vice Chairman Pervez Tanveer Tufail and Zafar Qidwai, outgoing Chairman Taimoor Dawood and other office bearers also spoke on the occasion.
Abrar Ahmad said that the developed countries like Germany, Japan, China and USA had achieved the ultimate goal of economic prosperity by developing chemical sector. He said the chemical imports of Pakistan amounts to over US$6 billion, which is almost 17 percent of the total import bill and each year there is an average increase of 7 percent on this account.
On the other hand the global chemical industry, at present, is a US$4 trillion enterprise, which impacts nearly every sector of the economy, he said adding that the chemical businesses have prime significance in virtually every nation, driving innovation in six continents and supporting more than 20 million jobs, he added. Unfortunately, due to absence of even a single cracker complex, down-stream industry of Pakistan is dependent on imports, he lamented.
Pervez Tanveer Tufail, and Zafar Qidwai speaking at the meeting emphasized upon the research work to open up the new vistas of investment in chemical sector. They underlined the need of government-industry and academia collaboration for long-term planning to overcome the barriers resisting development of chemical industry in Pakistan.
Outgoing Chairman Taimoor Dawood assured of the fullest cooperation to the newly elected office bearers for planning and implementing initiatives in development of the chemical industry.
The association's Chief Executive Officer and Secretary General Iqbal Kidwai presented the annual audit report for approval on this occasion, which was unanimously approved.