THE pharmaceutical sector consisting of 750 plus manufacturing units, and employing thousands of people is being slowly suffocated through excessive and unnecessary regulation.

The Khyber Pakhtukhwa Pharmaceutical Association seeks the government’s help in ending monopolies and streamlining regulations in the pharmaceutical sector.

First, we request the government to allow the pharma sector to use SBP 6 per cent fixed interest loans of up to Rs2 million per company for bio-equivalency (BE) studies. Each study will allow the company to export generic medicines earning millions in foreign exchange. These companies can then use the export profits to conduct even more studies thus ensuring an increase exports over the years.

Second, the KPMA requests that the monopoly enjoyed by a handful of companies be ended. These companies have been allowed to charge a higher sale price for similar products sold by other pharma firms. These companies are also allowed to manufacture products which are denied to other firms.

This cartel has restricted the sales of 730 companies, while through their monopoly it has captured 90 per cent of the Pakistani market with their higher priced products.

If the above two conditions materialise in Pakistan, then the pharmaceutical sector can ensure almost $3 billion worth of exports every year.

Many Pakistani pharmaceuticals are manufacturing export quality products. Sadly they lack the funds needed to fulfill the mandatory regulatory and testing requirements for export.

Engr Zahid Arif
Chairman KPMA
Peshawar

Published in Dawn, February 23rd, 2020