ISLAMABAD: Commerce Minister Syed Naveed Qamar on Wednesday stressed the need for collective efforts to enhance pharmaceutical exports to over $5 billion by 2030.
Speaking at the sixth Pakistan Pharma Summit and Pharma Export Summit and Awards (PESA) 2023, the minister outlined the government’s plans to significantly increase pharmaceutical exports.
The event, organised by the Pakistan Pharmaceutical Manufacturers’ Association (PPMA), brought together industry leaders, experts and stakeholders to discuss strategies for growth and innovation in the pharmaceutical sector.
Expressing his gratitude to PPMA leadership for organising the summit, the minister said the pharmaceutical market was growing very fast.
“We can make Pakistan a leading player in the global pharmaceutical export market. We must prioritise local manufacturing of active pharmaceutical ingredients (APIs) to reduce our dependence on imports besides aligning with international standards. This would not only make us self-reliant but also create opportunities for export-oriented growth,” the minister observed.
He said by complying with global regulations and certifications, Pakistan can access more lucrative export markets. He said there was a need to ensure the quality and competitiveness of pharmaceutical products.
The minister said the government was committed to providing support and incentives to facilitate the growth of the pharma industry, adding that duties on APIs have already been abolished besides allowing toll manufacturing and setting the pharma industry tariff under the commerce ministry.
Published in Dawn, July 13th, 2023
