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