Islamabad (TDI): Federal Minister for Commerce, Jam Kamal Khan, with a delegation from the Pakistan Pharmaceutical Manufacturers Association (PPMA) to discuss challenges facing the pharmaceutical sector.
The delegation was led by PPMA Chairman who highlighted the need for enhanced government support to unlock the full potential of the pharmaceutical industry in international markets.
The PPMA Chairman outlined that while 95% of Pakistan’s pharmaceutical products are locally produced, only 5% are imported. Despite this strong local manufacturing base, Pakistan’s current pharmaceutical exports stand at $ 341 million.
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The Chairman stressed that with the right government policies and support, this figure could grow exponentially. That may reach multiple billions of dollars in the coming years.
One of the key proposals brought forward by the PPMA was the establishment of Pharma Export Promotion Council. This council molded after similar successful organizations in neighboring countries.
Moreover, it would centralize efforts to streamline and boost pharmaceutical exports. This also plays a major role in coordinating industry efforts, developing strategies to enter new markets. It has been ensuring innovation within the sector.
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In response, Minister Jam Kamal Khan recognized the immense export potential of Pakistan’s pharmaceutical industry, especially in the rapidly growing markets of South-West Asia and Central Asia. He endorsed the government’s commitment to supporting the sector and urged the PPMA to submit a detailed proposal.
The Minister assured the delegation that the Ministry of Commerce, through the Export Development Fund (EDF) would extend the necessary financial and logistical support. It promotes pharmaceutical exports.
He also highlighted the importance of focusing on innovation and quality control to meet international standards and penetrate new markets.
The meeting marks a critical step in the government’s broader vision to promote industry-driven economic growth and increase Pakistan’s share in global pharmaceutical markets.
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Both sides agreed to maintain close coordination in the coming months of finalize plans and push forward the agenda for boosting pharmaceutical exports.
The government remains committed to providing the necessary tools and support. This enables Pakistan’s pharmaceutical industry to become a major player in the international market. Ministry of Commerce took the lead in facilitating these efforts through strategic collaboration and initiatives.
