Lahore: Colonel Qamar, the General Secretary (retired) of the Pakistan Coating Association (PCA), asked the government on Monday (October 4) to recognise the coating (paint) sector as an export-oriented industry, according to news reports. He claims that the decision will strengthen the industry and increase Pakistan’s exports from $100 million to $1 billion in a short period of time.
Read More: Punjab being developed as a business-friendly province, according to CM Buzdar
Mr Qamar stated that Afghanistan is currently Pakistan’s largest export partner, with an annual trade volume of USD 100 million, and that it requires further development due to the current export ban on the products. The coatings sector, on the other hand, has been designated as an export-oriented business, allowing it access to European and African markets.
Paint, coating resins, adhesives, inks, powder coating, surface finishing, construction chemicals, industrial and protective coatings, raw material and machinery makers, and affiliated sectors are among the roughly 200 groups active in diverse raw materials manufacturing, according to him.
Read More: Pakistan becomes third Asian country to get Business & Human Rights Action Plan
All of these industries employ thousands of people and generate PKR 100 billion in annual revenue. He claimed that by incentivizing the sector, more companies and jobs will be created.
Stay tuned with Tajarat Property for more updates or information about the top-notch real estate projects like Blue World City or Blue World City Islamabad.