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Tuesday June 25, 2024

Investment sought in PVC sector

By Our Correspondent
June 01, 2023

KARACHI: Pakistan has potential to export $300 million Polyvinyl Chloride (PVC) products by an investment in downstream PVC sector to raise the production, an industry official said on Wednesday.

The downstream PVC sector could fully utilise its excess capacity and help in earning valuable foreign exchange by standardising and improving the quality of finished products, Muhammad Idrees, chief commercial officer at Engro Polymer & Chemicals Limited (EPCL) said at a media briefing.

“EPCL enhanced its PVC capacity to 295,000 tonnes per annum, which is sufficient to fully cater to the local demand and achieve exports as well,” Idrees added.“The company is collaborating with TDAP [Trade Development Authority of Pakistan] to explore global markets for export of value-added PVC downstream products.” In the last two years, he continued, the company exported surplus products worth $48 million to Turkiye and Middle Eastern markets.

Currently, Pakistan’s per capita PVC consumption stands at 1.2 kg versus a global average of 6.1 kg. Growth in the country’s per capita consumption will be driven by rising per capita income, increasing urbanisation, and robust domestic manufacturing in the coming years, according to EPCL official.