ISLAMABAD: Aamer Mehmood Kiani, Federal Minister for National Health Services, Regulations and Coordination said that government would take measures to resolve the key issues of pharma industry to facilitate the growth of pharma industry and exports.
He said this while talking to a delegation of leading pharma manufacturers and exporters of Islamabad/Rawalpindi region that called on him led by Ahmed Hassan Moughal, President, Islamabad Chamber of Commerce & Industry. Rafat Farid Senior Vice President, Iftikhar Anwar Sethi Vice President ICCI, Nasir M. Qureshi Paramount Pharmaceuticals, Fazal-e-Hanan Focus & Rules, M Shamim Khan Amson Pharmaceuticals, Usman Bio Lab, Tipu Sultan Wilson Group and others were in the delegation.
Aamer Mehmood Kiani said that pharma industry was playing an important role in the economic development of the country and government would take all possible measures to create a conducive environment for the better growth of this industry. He said another meeting would be held in near future with pharma manufacturers/ exporters in which all concerned officers dealing with pharma industry would also be present to address the major hurdles being faced by the pharma industry.
Speaking at the occasion, Ahmed Hassan Moughal, President, Islamabad Chamber of Commerce & Industry said that pharma industry was a growing industry of the country, but was facing many challenges due to lack of attention from the government side. He said that with better focus of the government, India’s pharmaceuticals exports have reached USD 24 billion per annum while Pakistan’s pharma exports were just USD 250 million which were much lower as compared to the actual potential of the industry. He stressed that the government should give more focus to pharma industry for resolving its problems that would help it to emerge as a major source of exports for the country. He said that government had formed Drug Regulatory Authority (DRA) in 2012, but it could not play its due role to facilitate and promote the pharma industry. He stressed the DRA should be made proactive in facilitating the growth of pharma sector.
Nasir M. Qureshi and other members of delegation said that pharma industry was importing 90 percent raw material, but huge devaluation of rupee has created additional problems for this industry. They said that the prices of pharma products have not been increased since 2000 in Pakistan due to which pharma manufacturers were purchasing raw material at high prices and selling finished good at low prices which was not a viable option for them. They stressed that government should take policy measures to address all major issues of pharma industry so that this industry could play major role in promoting exports and improving the economy.