Government Sketching Out A Plan To Increase Pakistan’s Pharma Exports To $3 billion
The government is keen on doubling the trade with Africa in the next five years.
Adviser to the Prime Minister on Commerce Razak Dawood said that the government is determined to remove all hurdles in the way of increasing pharmaceutical exports up to $3 billion.
The adviser said that emphasis is being laid on increasing export volume through tariff rationalization, institutional reforms, ease of business and trade-related investment.
While addressing the 5th Pharma Summit, Razak continued that to grow the pharma sector of the country, the regulatory system is also being made easy.
At the moment, the leading export of the country is textile, but new sectors, including pharma, have been identified, which could also contribute to increasing the exports of the country.
“Pharma industry is very important for development and strategy is being developed to reform it for enhancing exports,” Razak said.
He said that African countries have a population of 1.3 billion, with $2.7 trillion gross domestic product. The government is keen on doubling the trade with them in the next five years.
Razak urged the pharma sector to pay attention to African countries for capturing their markets.
The government’s top priority is to uplift the pharma sector, so it can increase the country’s foreign exchange reserves.
Pharmaceutical export promotion committee set up:
A special pharmaceutical export promotion committee has been set up to help in the production and exports of medicine and medical products. Razak called on the pharma industry to step up the current volume of exports from $30 million to over $3 billion.
He applauds the PPMA for organizing the 5th Pharma Summit. Adviser to the Prime Minister on National Health Zafar Mirza said the government has completed its work on national medicine policy. The goal of this policy is to reform the pharmaceutical industry of the country, which would be announced within the next two weeks.
Zafar Mirza said that the government is wholeheartedly committed to reforming the pharma sector, and all bottlenecks are being removed in this regard.
“There are more difficulties due to the presence of interest groups,” Mirza said.
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