Currently, the market of plastic industry in the country is 40 thousand crores. About 8lac tons of plastic waste is generated annually. Therefore, the Ministry of Industry said that the development of plastic industry development policy is in the final stage for the development of plastic waste management.
That’s the optimism voiced at the ‘Plastic Waste Recycling: Investment Prospects, Challenges and Way Forward’ seminar organized by SME Foundation and Bangladesh Plastic Goods Manufacturers and Exporters Association (BPGMEA) at CIRDAP International Conference Center on Wednesday (January 4, 2023).
Professor of Bangladesh University of Engineering and Technology Dr. Ijaz Hossain presented the key note at the event and said that about 800,000 tons of plastic waste is generated in the country annually. However, only 36% of it is recycled and used to make new products. The remaining 64% pollutes the environment. However, with government policy support, it is possible to increase the export of plastic products from the current 1.2 billion dollars and meet the needs of the country by creating import substitute products.
Salim Ullah, senior assistant secretary of the Ministry of Industry, said in the event that the plastic industry development policy for the development of this sector of the country is in the final stage. The government is planning to approve it soon and implement it from February 2023.
SME Foundation Chairperson Professor Dr. Md. Masudur Rahman presided over the seminar and the FBCCI President Md. Jasim Uddin was present there as the chief guest. The Managing Director of SME Foundation Dr. Md. Mofizur Rahman and the President of Bangladesh Plastic Goods Manufacturers and Exporters Association Shamim Ahmed spoke among others.
