While Pakistan’s pharmaceutical industry exports around $400 million annually, India’s pharmaceutical sector is generating a staggering $32 billion in exports
By our correspondent
ISLAMABAD: Pakistan’s pharmaceutical industry has presented an ambitious proposal aimed at significantly boosting the country’s exports, with the goal of reaching $5 billion in exports, a substantial increase from the current $400 million. This proposal was discussed during a meeting of the Senate’s Standing Committee on Commerce, led by Senator Anusha Rehman. Representatives from the pharmaceutical sector highlighted the stark contrast between Pakistan’s pharmaceutical exports and those of regional rival India.
While Pakistan’s pharmaceutical industry exports around $400 million annually, India’s pharmaceutical sector is generating a staggering $32 billion in exports. During the meeting, committee members raised questions about what support would be needed to help Pakistan bridge this gap. In response, the pharmaceutical industry representatives presented several key demands aimed at increasing exports. One of the primary suggestions was the introduction of the “Pharma Excel” model, which involves negotiating directly with international regulatory bodies to streamline product registration processes and open new channels for exports.
The industry believes that if these measures are implemented, exports could potentially rise to $4 to $5 billion. Senator Rehman sought further clarification on the Pharma Excel model. The representative explained that this model would allow Pakistani companies to engage directly with international regulators, which is currently not happening on a large scale. For context, around 200 Indian pharmaceutical companies are registered with international regulators, while only about 7 to 8 Pakistani companies have achieved this milestone. This disparity has hindered the growth of Pakistan’s pharmaceutical exports.
The pharmaceutical sector also emp”asiz’d the need for enhanced marketing of Pakistani products abroad and the establishment of more production plants within the country to increase capacity and meet growing global demand. These efforts, according to the industry, could unlock the full export potential of Pakistan’s pharmaceutical sector, ultimately narrowing the gap with its regional competitors and positioning Pakistan as a stronger player in the global pharmaceutical market.
