ISLAMABAD (ABC) – Pakistan must prioritize the development of advanced industrial units.
Additionally, creating an investment-friendly atmosphere and offering incentives for collaborative projects will be crucial to unleashing the country’s export capabilities and fostering sustainable economic development.
Talking to WealthPK, Kashif Muhammad Ali Hashmi, Deputy Secretary at the Ministry of Industries and Production, emphasized that efforts to enhance business development through joint ventures with foreign partners and strategic utilization of Gwadar Port as a trans-shipment hub were crucial steps towards establishing Pakistan as a global player in the modern materials market.
He called for modernizing Pakistan’s PVC industry to maintain global competitiveness. He said this will not only help meet the local demand for domestically manufactured products but also expand the production capacity to cater to the international markets.
With the construction sector facing an unprecedented demand due to the population growth and urbanization, the need for locally sourced modern materials has never been more pressing.
While early investments have demonstrated the country’s manufacturing prowess, sustained efforts are required to build a strong PVC ecosystem capable of producing value-added products for both domestic consumption and global export.
The ripple effects of forward-looking policies in this regard are manifold: promising job creation, increased industrial output, expanded export markets, and widespread adoption of modern materials throughout Pakistan’s construction landscape.
Talking to WealthPK, Joint Secretary at the Ministry of Industries and Production Syed Abbas Zaidi said the demand was surging across multiple sectors, including construction, agriculture, packaging, and consumer goods.
The call to action is clear: leverage modern materials to fuel economic expansion and meet the evolving needs of a burgeoning population.
This initiative has prompted recommendations from industry leaders and policymakers alike. Key among these is the swift finalization of a petrochemical policy, aimed at bolstering downstream industries and attracting vital foreign investment.
He concluded with remarks that as Pakistan stands on the tip of a transformative era in its construction industry, the imperative to embrace modern materials as a cornerstone of economic progress has never been clearer.
With strategic interventions and concerted efforts, the nation is poised to emerge as a global leader in innovative construction solutions, driving prosperity and development for generations to come.