Pakistan poised for recovery

Saeed A Baloch, Lahore, reports on how Pakistan’s paint and coatings industry has displayed underlying strength and is poised for a post-COVID-19 recovery

Pakistan’s paint and coatings sector is understandably suffering from COVID-19, which has hit the country hard with 276,288 cases and 5892 deaths as of July 28. But the industry has been expanding and its executives hope for a sustained recovery once the pandemic has abated, ending the current series of rolling smart lockdowns targeting infection hotspots. Indeed, paint and coatings sales within Pakistan have been growing by between 5-10%/yr, according to the Pakistan Coatings Association (PCA). Its Chairman Moazzam Rasheed says the current annual market for decorative paints, surface coatings and associated chemicals in Pakistan is between Pakistan Rupees PKR33bn (US$197M) to PKR38bn (US$228M). Research from the Pakistan Credit Rating Agency (PACRA) also demonstrates that this market is large, potentially taking more unorganised sector sales (dominant in rural and semi-urban areas) into account – saying it is worth PKR50bn (US$301M) – with 64% of sales being unbranded and sold through markets and sole traders. The PCA, by contrast thinks the organised sector is larger, accounting for around 74% of total sales.

Read full report here: Pakistan 2020