LAHORE: Pakistan Chemical Manufacturers Association (PCMA) is organising Pakistan’s first chemical expo ‘Pak Chem Expo 2022’ at Lahore Expo Centre, a statement said on Tuesday.

Scheduled for July 19 and July 20, the expo will see participation from as many as 90 local and 10 international exhibitors, it added.

PCMA Senior Vice Chairman Haroon Ali Khan said that renowned national and international industries are participating in this two-day expo while well-known chemical scientists from all over the world will also share their experiences and new researches.

The event will feature the deployment of more than 100 stalls by the industry and academia and will highlight the importance of the country’s $20 billion chemical market.

The expo is expected to attract a large number of visitors, including policymakers, industry experts, businessmen and corporate professionals. It has also been able to attract foreign representation through Aspen Technology Inc and Farabi Petrochemicals Company of Saudi Arabia, and Kartli international of Russia.

Khan said that Pakistan’s chemical industry has a market of $20 billion and it is providing direct and indirect employment to 600,000 people while it contributes around Rs200 billion to the national exchequer.

“It has not yet been fully exploited due to a lack of awareness about its potential and absence of comprehensive and integrated chemical policy at the government level,” Khan added.

He empasised that the trade deficit can be significantly reduced if Pakistan’s chemical industry is facilitated and an integrated chemical policy is implemented at the government level.

The growth of this industry is not possible without the government’s support, he said, adding that the first thing it needs is a comprehensive chemical policy in consultation with the PCMA and other stakeholders to encourage and secure long term investments.

PCMA former chairman Zafar Mehmood said that the chemical industry needs uninterrupted supply of electricity and gas.

“We need Naphtha Cracking Plants as established by Thailand and Singapore while a separate business park on 3000 acres for all chemical related industries is also required,” he added.

It is pertinent to mention that the chemical industry is the third fastest growing industry in the world, where more than 70,000 products are produced with the use of different types of chemicals, and its volume in the global market is close to $6 trillion.