Pakistan’s pharmaceutical exports have witnessed a remarkable 34% increase following the implementation of deregulation policies.
This was informed at a meeting between the Special Investment Facilitation Council (SIFC) and the Pakistan Pharmaceutical Manufacturers Association (PPMA). The meeting, held in Islamabad, brought together key figures from both sides, including PPMA Chairman Tauqeer ul Haq, Vice Chairman, Executive Director Col. Nayyar, SIFC’s Director General, and Special Assistant to the Prime Minister on Industries, Haroon Akhtar.
While expressing gratitude for SIFC”s support in amending drug laws concerning directors” liability, the PPMA chairman raised concerns about a third-party survey initiated by the Drug Regulatory Authority of Pakistan (DRAP). He questioned the survey’s methodology, noting the exclusion of industry representatives. He emphasized the positive impact of deregulation, citing improved drug accessibility, elimination of deficiencies, and the substantial rise in pharmaceutical shipments abroad.
Echoing the chairman’s sentiments, SAPM Haroon Akhtar championed the deregulation policy, crediting it with replenishing pharmaceutical supplies and fueling unprecedented export expansion. He urged SIFC to protect these advancements, paving the way for further industry development. SIFC affirmed its commitment to maintain the reforms.
The PPMA chairman also presented opportunities for exporting to Uzbekistan and Azerbaijan. With Akhtar’s upcoming visit to Uzbekistan, he requested PPMA’s input and confirmed that banking obstacles were being addressed, with 11 banks slated to establish branches there.
A subsequent meeting with the Uzbekistan ambassador, top banking executives, the finance secretary, and ministry representatives saw Chairman Tauqeer ul Haq outline the obstacles and potential for enhanced trade with Uzbekistan. SIFC’s Director General commended PPMA’s proactive partnership with the government in transforming the pharmaceutical sector, ensuring medicine availability, and boosting export growth. Both meetings were deemed highly successful, fostering stronger government-industry collaboration for sustainable progress.