The recent assassination of former Benazir Bhutto in Pakistan is likely to slow down foreign investment in Pakistan due to the political instability. Analysts, however is confident that the impact would be temporary with risk period to be around two quarters or 6 months period.
The death of Pakistan's beloved former prime minister, Benazir Bhutto had somehow impacted the financial
development which is needed for more petrochemical investements in new plants addition, petchem deals and also to cater for stable production of petrochemical products in the company.
Pakistan economy is now in the shadow of its impressive performance in 2007 of 7% GDP growth and the government is expected to at least maintain that number in 2008 amidst of the killing of Benazir Bhutto.
However, looking at the country's petchem situation, Pakistan lacks any major petrochemical projects at the moment, neither does it have major petrochemical plants that could seriously impacted the local demand and/or foreign investments apart of some major petrochemical sector projects under development such as Engro Asahi. Engro Asahi plans to set up a chlor-alkali complex in Pakistan expected to be completed by third quarter of 2008. Another project is Engro Chemical which is working closely with Haldor-Topsoe, a Denmark company for development of catalyst for a new 2,200 tonne/day ammonia plant in Daharki, Pakistan. The ammonia produced will be used to manufacture urea at the facility which is expected to come on stream by March 2010.. Business analysts confidence remain on the high side that Pakistan's pethecm industry outlook in 2008 would be in the region of the same as of the global economy in the Eastern world where projected demand is high.
The death of Pakistan's beloved former prime minister, Benazir Bhutto had somehow impacted the financial
development which is needed for more petrochemical investements in new plants addition, petchem deals and also to cater for stable production of petrochemical products in the company.
Pakistan economy is now in the shadow of its impressive performance in 2007 of 7% GDP growth and the government is expected to at least maintain that number in 2008 amidst of the killing of Benazir Bhutto.
However, looking at the country's petchem situation, Pakistan lacks any major petrochemical projects at the moment, neither does it have major petrochemical plants that could seriously impacted the local demand and/or foreign investments apart of some major petrochemical sector projects under development such as Engro Asahi. Engro Asahi plans to set up a chlor-alkali complex in Pakistan expected to be completed by third quarter of 2008. Another project is Engro Chemical which is working closely with Haldor-Topsoe, a Denmark company for development of catalyst for a new 2,200 tonne/day ammonia plant in Daharki, Pakistan. The ammonia produced will be used to manufacture urea at the facility which is expected to come on stream by March 2010.. Business analysts confidence remain on the high side that Pakistan's pethecm industry outlook in 2008 would be in the region of the same as of the global economy in the Eastern world where projected demand is high.
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