Pakistan's chemical, pharmaceutical exports increase by 27%
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ISLAMABAD (JTN) Pakistan’s chemical exports

Pakistan’s chemical and pharmaceutical exports have increased

significantly during the last five years. According to the Pakistan

Bureau of Statistics (PBS), during the first seven months (July-

January) of the fiscal year 2021-22, total chemical and

pharmaceutical exports increased by 27% to 90 790.5 million,

compared to the same period of the fiscal year 2020-2021. 1 621.9

million during the period.

=Every economic sector benefits from the chemical industry.

According to the WealthPak report, on an annual basis, exports

increased by 13.9% to 49 1149.08 million in the fiscal year 2020-21

from 100 1008.4 million previously. The chemical industry is one of

the fastest growing sectors in the world, with a market volume of

about 9 5.9 trillion. The sector is the fourth largest and fastest

growing in the world. According to the Pakistan Chemical

Manufacturing Association (PCMA), Pakistan’s chemical industry is

estimated at 12 12 billion. Every economic sector benefits from the

chemical industry as it plays an important role in every industry.

=Significant role in earning of foreign exchange.

About 96% of all manufactured products contain chemicals. There

are 19 sectors in this sector which include Textile, Leather,

Pharmaceutical, Food, Fertilizer, Agriculture, Petrochemical,

Construction Chemical, Soap, Cosmetics etc. Is playing a significant

role in meeting and earning a handful of foreign exchange. It has

contributed Rs 170 billion to the national exchequer in the form of

taxes in 2020 and is expected to contribute Rs 320 billion by 2030.

=Chemical industry is one of the major sectors of the Pakistan’s economy

Pakistan’s chemical industry is one of the major sectors of the

economy in which 400,000 people directly and Indirect employment

has been provided and 4 million jobs are expected to be created by

2030. Chemical industry is at the forefront of the entire supply chain

of textile sector in Pakistan. Pakistan exported .4 15.4 billion worth

of textiles in 2020-21. According to experts, textile exports can be

tripled by increasing the amount of chemical fiber in the chemical

industry. The industry has the potential for growth. This sector

needs to be facilitated and challenges need to be overcome so that

the opportunities in this sector can be explored to the best of our

ability. Pakistan’s chemical industry produces chemicals on a much

smaller scale than the rest of the world.

=The scale of chemical production needs to be increased

These chemicals are further used in many fields in the processing of

various goods. The scale of chemical production needs to be

increased. Since Pakistan has a shortage of raw materials for the

manufacture of chemical goods, it has to import most of the raw

materials and then sell the chemical goods offshore markets after

the price hike. I have to send Thirty percent of the chemicals are

derived from crude oil and North America and the Gulf are the top

countries where crude chemicals are available. Engro CEO Jahangir

Paracha said that primary level chemicals alone are not enough for

export.

=Need to develop polymer and other related industries in Pakistan

The world is exporting chemicals in the form of final goods, just as

South Korea is exporting air conditioners that use plastics (which

use chemicals in production) as input, “said Engro’s CEO. Jahangir

Paracha said that there is a need to develop polymer and other

related industries in Pakistan which use chemicals in the production

of goods. For example, fiber chemicals are used in textiles and acetic

acid in the manufacture of paints.

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Pakistan’s chemical exports , Pakistan’s chemical exports

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