Pakistan has a forward looking Pharma Industry which has shown a progressive growth over the years and providing high quality essential drugs at affordable prices to millions of people.

Government should encourage the development of domestic pharmaceutical industry to provide good quality cost effective medicines to masses, Syed Adil Anis Acting President, Islamabad Chamber of Commerce & Industry (ICCI) has said, while talking to a delegation led by Mr. Nasir M. Qureshi, Chairman of Pakistan Pharmaceuticals Manufacturing Association North Zone.

He said that Pakistan has about 400 pharmaceutical manufacturing units and meeting around 70 percent of the country’s demand of Finished Medicine. Pharmaceutical Industry has played a key role in promoting and sustaining development in the field of medicine domestically and also at international level, he added.

ICCI Acting President said government should cut down excise duty on raw and packaging materials to reduce input cost of medicines. He said about 90 percent of raw materials used in manufacturing drugs were imported which has raised the cost of medicines. Government should encourage setting up of raw materials manufacturing plants in the country to maintain medicines prices at low level, he maintained.

He said government should provide funding for R&D in pharmaceutical sector and enhance its health budget which was less than 1 percent of GDP while Bangladesh and other countries of the region were spending substantial amount of their budget on health. By bringing the latest technological advancements in the field of medicine and ensuring the supply of research-based products, capability of Pharma Industry could be enhanced, he opinioned.

Syed Adil Anis was of the view that Pakistan Pharmaceutical Industry could not be able to compete with the well sized and established competitors of China and India who possessed economies of scale until it would succeeded to adopt superior technological and human resources.

Speaking on the occasion, Mr. Nasir M. Qureshi, Chairman of Pakistan Pharmaceuticals Manufacturing Association North Zone said that government should formulate a drug regulatory authority, adding that, all the pending cases of new product registration should be executed immediately in order to survive in a highly competitive regime.