Industry status

Industrial status sought for the plastic recycling sector – Business & Finance

LAHORE: Plastic recycling is considered a green industry worldwide and the Pakistani government should grant it industry status in order to derive maximum benefits from it, said the regional chairman of the Federation of Chambers of Trade and Industry of Pakistan (FPCCI), Muhammad Nadeem Qureshi.

Speaking to representatives of the Polymer Waste Importers & Recycling Association (PWIRA) at the FPCCI regional office on Tuesday, Qureshi pointed out that the plastic recycling sector holds significant importance in all countries.

During the meeting, the PWIRA delegation pointed out that the plastic recycling industry promises a substitution of US$1 billion with recyclables; unfortunately, the government does not support the plastic recycling sector.

Instead of facilitating, the government is creating barriers to the import of cheaper alternative recyclable materials that reduce the cost of business/manufacturing, reduce electricity consumption by 30% and increase green substitution to enter the market lucrative international exports.

Muhammad Nadeem Qureshi ensured full cooperation to resolve the issues and said that Pakistan’s plastic recycling industry employs more than one million people in its ecosystem, including more than 200,000 waste pickers in the plastic collection phase and in the sorting, recycling and upstream phase, where the finished products are produced. such as polyester garments/textiles, flooring, automotive, footwear, agriculture, packaging and many others.

He further stated that the recycling industry is considered a green industry across the globe and supported by their respective governments through incentives and benefits in the form of rebates, green loans, tax incentives and many others. The situation in Pakistan is different; those who try to green Pakistan and bring millions in foreign currency to Pakistan have never received any benefits.

Nadeem Qureshi said plastic recycling and sustainability are directly linked to a clean environment and this industry has great potential. The government should take appropriate measures to address the current problems as there is a great opportunity for exports of value-added finished products and Pakistan should take advantage of it.

PWIARA was represented by FPCCI Standing Committee Head Atif Mughal, Deputy Head Asif Sarwar and former PWIARA President Muhammad Asif.

Copyright Business Recorder, 2022