Lahore: The Lahore Chamber of Commerce & Industry (LCCI) has commended the Ministry of Energy's Petroleum Division for agreeing to their request to release imported industrial chemicals and petrochemicals held at Karachi ports. The release resolves a significant bottleneck for industries dependent on these materials, classified under the Petroleum Act of 1934, and had been delayed for an extended period.

According to Lahore Chamber of Commerce and Industry, the government recently implemented new flash point standards, which had caused significant issues for various industries by stranding containers at Karachi ports. In response, LCCI convened a meeting with key industry associations, leading to a government decision to release the shipments classified under Petroleum Classes A, B, and C.

The LCCI's advocacy received recognition from several industrial sectors, including textiles, pharmaceuticals, and chemicals, highlighting the role of the Chamber in resolving the issue. The Ministry's action is expected to alleviate supply chain disruptions, reduce production costs, and maintain industrial operations. The decision is seen as a commitment to fostering a business-friendly environment.

LCCI President Mian Abuzar Shad emphasized the economic implications of this decision, noting that the availability of imported petrochemicals is crucial for stable production cycles across industries. He advocated for ongoing reforms to simplify import procedures and modernize regulatory frameworks, aligning with global standards to support industrial growth.