Committee to Suggest Suitable Legislative Framework for Development of Chemicals & Petrochemicals

A meeting under the Chairmanship of the Joint Secretary (Petrochemicals) is scheduled to meet today to draft a framework for the development of chemicals & Petrochemicals

The expected points of discussions are likely to take place around the following:

1.To suggest suitable legislative framework for removal of bottlenecks in the development of the sector;

2.To explore the possibility and mechanism to provide financial assistance to chemical and petrochemical industry by way of making grants or advancing loans, providing guarantees on loans and deferred payments;

3.To suggest various measures to be adopted for sustainable development;

4.To suggest the action plan to ensure the availability of feedstock and rawmaterial for the sector;

5.To suggest promotion of import substitution in the sector.

6.To suggest the mechanism for Monitoring of market dynamics of chemicals