Ahsan Zafar Bakhtawari, President, Islamabad Chamber of Commerce and Industry (ICCI) leading a delegation called on Mahesh Kumar Malani, Minister of State for National Health Services, Regulations and Coordination (NHSRC) in his office to seek his help in resolving the key issues of the pharmaceutical industry.

Addressing the delegation, Mahesh Kumar Malani, Minister of National Health Services, Regulations and Coordination said that the pharmaceutical industry is playing an important role in meeting the domestic demand of medicines and promoting exports of pharma products and assured that he would cooperate in facilitating this industry. He also exchanged views on the importance of promoting interfaith harmony in the country and said that he would keep playing his positive role in this regard.

Speaking at the occasion, Ahsan Zafar Bakhtawari, President, Islamabad Chamber of Commerce & Industry briefed the Minister of State about the major issues of the pharmaceutical industry. He said that the survival of many pharma companies is in danger due to unaffordable production costs caused by the restrictions on imports, rupee’s devaluation, and rising inflation. He said that the manufacturing of medicines has declined by over 20 percent due to the issue of LCs for the import of raw materials and stressed that the government should address this issue on priority basis to save this industry from further problems. He said that Mahesh Kumar Malani should also play an active role in promoting interfaith harmony as our country is in dire need of national unity to cope with the economic and other challenges.

Faad Waheed, Senior Vice President ICCI said that though the banks have resumed issuing LCs for imports, but due to the shortage of foreign exchange reserves, banks are approving only around half of requests for LCs and this situation is affecting the growth of the pharma industry.

Engr. Muhammad Azhar ul Islam Zafar, Vice President ICCI said that Pakistan has great potential to enhance the exports of pharma products and urged that the government should provide maximum facilitation to this industry.

Khalid Iqbal Malik and Zafar Bakhtawari, former Presidents ICCI also highlighted the important role of the pharma industry in the economy and hoped that the government would resolve its issues on urgent basis.