Daily Times

Special Assistant to Prime Minister (SAPM) on Investment , Tahir Javed Tuesday said that Pakistan was the world’s leading manufacturer and exporter in the pharmaceutical sector in the 1990s.

At one time, Pakistan Pharmaceuticals was the leading exporter of Europe and America, whose exports held a special place in the important markets of the world, he said. He said this while addressing to meeting with Pakistan Pharmaceutical Manufacturing Association (PPMA) delegation led by its Chairman, Mian Khalid Misbah-ur-Rehman here in BOI office.

The SAPM said that the pharmaceutical sector was a major player in the country’s exports and the trend of investment in the special economic zone was increasing and pharmaceutical companies should come and invest in it. He said that the government would support the pharmaceutical sector in every aspect and Ease of Doing Business was the priority of the Board of Investment.

The SAPM said that problems of the pharmaceutical sector would be resolved to make the country’s economy strong and increase its exports.

He said that providing quality and affordable medicines to the people was the first priority of the government, for which the government and pharmaceutical manufacturers would try to work together.

Tahir Javed said that “I will take the proposals given to me by the pharmaceutical sector in the cabinet and work to improve the business environment for the pharmaceutical sector.”

He said that further development could be made in the sector through innovation which could take the country forward in the competitive market in today’s world.

He reiterated that the government would encourage the investors in every way so that economic development could take place in the country.

Meanwhile, Chairman Pharmaceutical Mian Khalid Misbah-ur-Rehman said that they could bring an investment of $1 billion in the Special Economic Zone. He said that the government should not change the sales tax and tariff structure and especially give tax exemption on raw material. He said that 95% of pharmaceutical raw material was imported due to which the price of medicines increased due to high exchange rate of dollar.