Ahsan Zafar Bakhtawari, President, Islamabad Chamber of Commerce and Industry (ICCI) said that the government should focus on the pharmaceutical industry to boost exports as this sector has great potential to increase esports to over US$ 5 billion within a few years with the support of the government. He said that around 639 pharmaceutical manufacturing units are working in Pakistan, employing approximately 240,000 people and exporting products worth more than $300 million to over 60 countries. However, streamlining regulations and addressing the key issues of this industry would help boost its exports to billions of dollars. He said this while addressing a delegation of Pakistan Pharmaceuticals Manufacturing Association (PPMA) during its visit to ICCI led by Arshad Mehmood, Zonal Chairman North of PPMA.

Ahsan Bakhtawari said that with close cooperation of the government to the pharma industry, Pakistan can become a leading player in the global pharmaceutical export market. He stressed that the government should take policy measures to encourage the local manufacturing of active pharmaceutical ingredients (APIs) to reduce our dependence on imports. This would not only make Pakistan self-reliant but would also create opportunities for export-oriented growth. He said that ICCI is actively working with the relevant authorities of the government including the Ministry of Commerce and Special Investment Facilitation Council to promote the pharma industry and assured that ICCI would cooperate with PPMA in resolving the key issues of this sector. Speaking on the occasion, Arshad Mehmood, Zone Chairman North of PPMA said that the pharma industry is importing most of its raw material to manufacture medicines, but due to significant devaluation of the rupee and the rising inflation, the manufacturing cost of this has increased manifold. He stressed that the government should introduce a zero tax regime for import of pharma plants & machinery and the packing material besides reducing taxes on utility bills that would help upgrade the pharma industry and further boost its exports.

Engr. Azhar ul Islam Zafar, Vice President ICCI said that the Chamber has constituted a committee for the pharmaceutical sector, which is working to resolve the major issues of this sector.

Khalid Iqbal Malik, Group Leader ICCI said that Pakistan is self-sufficient in pharmaceutical manufacturing and the government should provide full support to this industry that would bring a great increase in exports of this sector.

Faisal Muzammil, Humayun Kabir, Ch. Ansar Farooq, Syed Talib Hussain, Ahmed Khan Tareen, Syed Tariq Ali, Muhammad Humayun, Mian Haris, Mian Tariq, Khalid Awan, Mian Zubair, Sohail Mir, Malik Nadeem Akhtar Kakazai, Faisal Zafar, Bilal Munawar, Ch. Ahmed Warraich, Ch. Muhammad Hamza, Kafayatullah Malik, Malik Tariq Javed, Sher Muhammad, Asim Muzzamil, Sheikh Faisal and others were in the delegation.

Zafar Bakhtawari former President ICCI and Secretary General UBG Pakistan, Khalid Chaudhry, Asad Aziz, Ch. Muhammad Naeem and others were also present on the occasion.