ISLAMABAD:At the opening ceremony of 6th Pakistan Pharma Summit and Pharma Export Summit and Awards (PESA) 2023, Federal Minister for Commerce, Syed Naveed Qamar, presented an outline of government’s initiatives to significantly increase Pakistan’s pharmaceutical exports. Highlighting the immense opportunities for growth in the global pharmaceutical market, valued at $1.4 trillion, Naveed Qamar emphasized the need for Pakistan to benefit from this occasion, according to an official statement issued here on Wednesday.

He underscored the importance of focusing on key areas to enhance pharmaceutical exports. He stressed the significance of local production of Active Pharmaceutical Ingredients (APIs) to reduce dependence on imports. He said it is essential for the public to have access to medicines and affordable prices. He said we will listen to the issues of this industry and find solutions to them.

Promoting self-reliance in this sector will not only aid the industry’s progress but also create opportunities for revenue-based growth, he added. The Minister said the government is also actively working towards rationalization and creating an enabling regulatory environment. He said the government shed light on its efforts to promote bilateral partnerships and facilitate revenue-based organizations.

He said solid efforts from the government, industry players, and regulatory authorities are required. He said by working together, Pakistan can position itself as a leading player in the global pharmaceutical market. The Minister encouraged all stakeholders to seek opportunities for growth, invest in research and development, and strive for excellence.

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