KARACHI: A delegation from the Karachi Chamber of Commerce and Industry (KCCI) engaged in discussions with the Saudi-Pakistan Joint Business Council, led by His Excellency Prince Mansour bin Mohammed Al Saud, focusing on enhancing trade and investment ties. The talks centered on downstream industrial projects, petrochemicals, and sectoral value-addition opportunities in Pakistan.

KCCI emphasized the need for a strategic downstream petrochemical capacity in Pakistan, highlighting the potential benefits of establishing a naphtha cracker facility. This project is seen as crucial for reducing the country’s reliance on imported polymers and petrochemical feedstocks while creating high-value jobs and boosting local industries, such as textiles, plastics, and chemicals. KCCI called for Saudi investors and the Joint Business Council to assess partnership models and financing structures for this initiative.

Prince Mansour and the Saudi delegation showed interest in exploring opportunities across various sectors, including energy, industrialization, agriculture, textiles, information technology, and academia. This reflects Saudi Arabia’s intention to strengthen its economic engagement with Pakistan.

The discussions addressed the scale and timelines for downstream projects, with public reports indicating that a naphtha cracker would require a multi-billion-dollar investment. KCCI stressed the need for thorough feasibility studies, feedstock security, and logistical planning, as well as clear regulatory and fiscal incentives to attract investors.

In addition to petrochemicals, KCCI highlighted potential investments in value-added textiles, agribusiness, and food processing, which could increase exports and raise farmer incomes. The two sides also explored joint ventures, technology transfer, and academic-industry collaboration to enhance skilled workforce development in Pakistan.

Zubair Motiwala, Chairman of the Businessmen Group, described the engagement as a practical step towards transforming goodwill into tangible projects that could generate jobs and boost manufacturing exports. KCCI plans to collaborate with relevant authorities and Saudi counterparts to advance feasibility work and facilitate investor visits.