Karachi, October 27, 2020 (PPI-OT):The Pakistan Pharmaceutical Manufacturers’ Association (PPMA) has expressed gratitude to Prime Minister Imran Khan for advising the relevant authorities to provide relief and incentives like other zero-rated industries in the country to boost the exports.
According to a press statement issued on Monday, the advise came in view of recent meeting of PPMA’s newly elected Chairman Tauqeer Ul Haq with Khan along with a delegation having representatives of other industries as well. The PPMA Chairman said that on his recommendation, the PM advised the relevant authorities to extend this relief and incentives to the pharmaceutical sector so as to make it a prominent export-oriented industry in the country.
Haq during his interaction with the PM said that the annual export of medicines from Pakistan at present stood at USD 300 million with only 15 to 20 companies producing the drugs for the international markets. He said that medicines’ export would phenomenally increase with the right incentives from the government as upgrading and improvement of the drug making units are constantly required to meet the criteria of international regulatory regime related to the pharmaceutical sector.
The chairman PPMA also expressed gratitude to the PM for accepting his recommendation that a proper policy and incentive package should be announced by the Government for indigenous production of the raw material for the pharmaceutical industry. He said the required incentive package including the designation of an economic zone for this purpose would enable Pakistan to produce raw material of medicines locally. This would end the dependency of Pakistan to import raw material of drugs from India and other countries that is not suitable for the national economy.
Haq said that he also requested the PM to streamline the functioning of the Drug Regulatory Authority of Pakistan (DRAP) along with the appointment of a permanent CEO of the DRAP so that a meaningful role can be played in the expansion, upgrading, and growth of the pharmaceutical industry.
He said that a timely increase in the drug prices according to the Consumer Price Index (CPI) – linked formula would enable the drug makers to ensure the availability of medicines particularly the life-saving drugs and it will also help to introduce new medicines for effective treatment of patients of various diseases in the country.
For more information, contact:
Central Office,
Pakistan Pharmaceutical Manufacturers’ Association (PPMA)
House No: 474, Street No. 34, Sector I/8-2, Islamabad, Pakistan
Phone: +92-51-4435104
Director: +92-51-4435103
Fax: +92-51-4435105
E-mail: info@ppma.org.pk
Website: www.ppma.org.pk
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