A UK government study today exposed the staggering financial impact of intellectual property (IP) violations in Pakistan, estimating losses of £2.2 billion (approximately Rs 800 billion) in 2023 alone.
The report, released by the British High Commission, underscores the urgent need for IP enforcement improvements, echoing concerns raised by the Overseas Investors Chamber of Commerce and Industry (OICCI).
The study, conducted by the UK Intellectual Property Office and the Department for Business and Trade, identifies copyright breaches and trademark forgeries as the primary culprits. British Deputy High Commissioner in Karachi, Lance Domm, emphasized the importance of IP rights protection for economic progress and investor trust. He pledged UK support to Pakistan in bolstering its IP framework through policy discussions, technical aid, and awareness campaigns.
OICCI Secretary General, M. Abdul Aleem, welcomed the report, stating that its conclusions align with the chamber”s persistent advocacy for immediate action against IP infringements. He stressed that robust enforcement is not merely a legal necessity but a vital economic imperative to prevent revenue depletion, safeguard consumers, and foster a favorable investment environment.
The report recommends a multifaceted, intelligence-driven national IP enforcement plan, streamlined organizational structures, and heightened public awareness to combat the widespread acceptance of counterfeit products. The OICCI affirmed its commitment to collaborating with governing bodies, enforcement organizations, and global allies to implement these steps and cultivate an environment of innovation in Pakistan.