A delegation of representatives of Pharmaceutical Industry led by Nasir M. Qureshi, Chairman of Pakistan Pharmaceuticals Manufacturing Association North Zone visited Islamabad Chamber of Commerce & Industry (ICCI) and issued the impact of giving MFN status to India with respect to Pharmaceutical Industry.

Speaking on the occasion, Yassar Sakhi Butt, President Islamabad Chamber of Commerce & Industry (ICCI) said that Pharmaceutical Industry has played a key role in promoting and sustaining development in the field of medicine domestically and also at international levels.

He said that ICCI has always welcomed the initiatives of Government which were being taken for expansion of Bilateral Trade with India, but under MFN scenario with respect to Pharmaceutical Industry will significantly affect our local industry.

He proposed that at initial stage trade should be open stepwise related to specific commodities. He said that our national pharma industry has shown growth over the year far exceeding the export targets set by the Government

ICCI President was of the view that all the achievements would go down the drain if more products of pharma industry are allowed to be imported from India without imposing tariff, non-tariff barriers and anti-dumping duties.

Nasir M. Qureshi, Chairman of Pakistan Pharmaceuticals Manufacturing Association North Zone said Pakistan has about 450 pharmaceutical manufacturing units and meeting around 70 percent of the country’s demand of Finished Medicine.

He said that MFN status would significantly impact the local pharmaceutical industry and there are fears of closure of the industry resulting in massive job cuts.