Govt vows full support for pharma sector, announces export issues desk
The minister's remarks came during a presentation by Pakistan Pharmaceutical Manufacturing Association (PPMA) Chairman Touqeer ul Haq, who briefed him on the formation of Pharmax Pakistan, a public-private initiative to promote and manage pharmaceutical exports, the Commerce Ministry said.
'The pharmaceutical sector has huge export potential, and PharmEx Pakistan is just one or two steps away from becoming operational,' the minister said.
He appreciated the industry's rapid progress and assured continued government facilitation to achieve global export targets.
Centralised fund: pharma sector urges govt to let it utilise 1% of profit on in-house R&D activities
On trade with Afghanistan, he stated, 'With every passing day, our relations are growing stronger and more streamlined – pharmaceutical exports will rise accordingly.'
Chairman Touqeer ul Haq praised the minister's prompt action in addressing critical issues, stating it helped the industry avoid major financial losses.
He added that Pharmax Pakistan has the potential to raise pharmaceutical exports from USD 700 million to USD 3 billion.
The initiative builds on strong sectoral growth, with exports rising from USD 270 million in 2020–21 to USD 355 million in 2024–25, as noted in the latest industry figures.
Pharma bodies decry being ignored by SCQB
Touqeer ul Haq also called for better facilitation of exports to Afghanistan, a key market, and welcomed the minister's assurance of focused policy coordination.
Pharmax Pakistan is expected to serve as a dedicated platform to enhance regulatory compliance, market access, and international outreach for Pakistani pharmaceutical products.
The minister assured the association of the Ministry's commitment to resolve the issues faced by the exporters and announced the establishment of a dedicated Exporter Facilitation Desk in the Ministry to help the export industry with critical matters requiring urgent intervention of the Government.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Express Tribune
8 hours ago
- Express Tribune
TCP clarifies bids for sugar import accepted under PPRA Rules
The Trading Corporation of Pakistan (TCP) clarified on Sunday that the three bids accepted for the import of sugar were accepted following "the requirements contained in PPRA Rules, 2004". Earlier, it was reported in error that the TCP raised objections to documents submitted by two companies and consequently rejected their bids, despite them offering lower prices in their tenders for importing 200,000 metric tons of sugar. 'The lowest bidder's (M/S ED&F Man Sugar Limited, London) offer was to supply/import of 50,000 MT, and not 100,000 MT as incorrectly reported in the news item, and the same has been accepted at quoted price of USD 539/MT. Accordingly, bid acceptance letter has been issued which has also been accepted by the firm,' TCP said in a statement. It clarified that only one bidder (M/S Bare Syndicate FZCO) was rejected for failing to provide the mandatory bid security document, rendering its bid non-responsive. 'Thus, all three bids were accepted following the requirements contained in PPRA Rules, 2004. Accordingly, bid acceptance letters have been issued to all three bidders for import/supply of 105,000 MT of sugar,' the statement added.
Express Tribune
12 hours ago
- Express Tribune
Degrees in dysfunction
Despite growing student enrollments, increased PhD production, and persistent public investment over the years, Pakistan's higher education sector continues to underperform. No Pakistani university ranks in the top 350 globally, and graduates struggle with underemployment and limited research commercialisation. At the root of this dysfunction lies a complex intersection of poor governance, political maneuvering, low returns on education, policy stagnation, and structural economic issues that fail to reward learning. Higher education in Pakistan, continues to suffer from deep-rooted structural challenges that limit its global competitiveness and national impact. At the heart of these challenges lie governance and accountability issues. Most public-sector universities still operate with outdated management models, where political interference overrides merit-based decision-making. The situation has been further complicated by the 18th Constitutional Amendment, which created a dual system of higher education regulation — one at the federal level and another at the provincial level. This has led to overlapping mandates, inconsistent policies, and a lack of coordination between key stakeholders. Governance & structural challenges A higher education institution (HEI) is subject to numerous governance bottlenecks, including the Council of Common Interests (CCI), Standing Committees of the National Assembly and Senate, the Higher Education Commission (HEC), the Federal Education Ministry, provincial education departments, provincial HECs, the chancellor (governor or chief minister of the respective province), the courts, and finally, the internal approving bodies — the Senate or syndicate or both of the HEI. For instance, when a public HEI seeks to revise student fees in light of the incessant increase in establishment charges (payroll) resulting from annual BPS faculty salary hikes, the Senate and syndicate — the strategic decision-making bodies, often composed of majorly ex-officio members — block the move due to concerns over political capital depreciation. Similarly, many important decisions, especially the commercialisation of idle assets or the investment (if, fortunately, there are funds available) in profit-oriented but risky opportunities, such as mutual funds, also suffer due to this overreach. This creates a vicious cycle: political interference obstructs much-needed reforms, increasing dependence on the government's exchequer, which in turn invites further political interference. Further, governing boards are often constituted through non-transparent nominations without any defined eligibility criteria, and they lack representation from key professional sectors such as finance, law, or technology. The absence of clearly defined performance evaluation frameworks for both the vice chancellor and statutory bodies has left many universities in a state of administrative paralysis. Internal audit functions are largely nonexistent and, where they do exist, they lack independence and remain directly answerable to the vice chancellor. Chronic underinvestment, stagnant funding Financially, over the years, the Higher Education Commission's budget rose from 47.5 billion rupees in 2014–15 to 65 billion rupees in 2018–19, after which it remained stagnant. However, this stagnation, combined with currency devaluation, has reduced its value to nearly half in dollar terms, from around 470 million dollars to 230 million dollars. This financial squeeze reflects the chronic underinvestment in education overall and the government's misplaced priorities. From July to March, only 0.8% of the GDP was spent on education, according to the Economic Survey of Pakistan 2024-25. Far below UNESCO's recommended benchmark of 4–6%, even after accounting for provincial expenditures. Within the higher education sector, HEC's performance-based funding to HEIs remains minimal compared to base and need-based grants, leaving faculty and institutions with little incentive to strive for excellence beyond mandatory benchmarks. Unlike in the US or China, where universities serve as hubs for startups and scientific advancement, Pakistan's institutions have produced no Nobel laureates or unicorn startups. Offices of research, innovation and commercializalisation (ORICs) and business incubation centres (BICs. exist, but due to limited capacity and lack of attention from both HEIs and the government, commercialisation efforts rarely bear fruit. Yet this is vital, not only for the financial sustainability of HEIs and easing the government's strained fiscal space, but also for fostering innovation and broader economic prosperity. Research & employability gaps Despite a significant rise in the number of PhDs produced (from 287 in 2003 to 3,489 in 2024) and improvements in laboratory infrastructure, Pakistan has failed to fully leverage its research potential. While academic output has increased in both volume and citation quality, it is largely driven by individual incentives, particularly the need for faculty to meet promotion criteria, rather than by a commitment to solving real-world problems or addressing national priorities. Product-oriented research remains largely absent. This reflects flaws in regulatory policies, which prioritise publication counts over innovation, research commercialisation, industry linkages, pedagogical quality, and the meaningful academic presence of teachers. The result is a race for published papers, often at the expense of impactful research and teaching. From a student's perspective, there's a glaring gap between what the job market demands (practical, skill-based competencies) and what universities continue to teach, which remains largely theoretical. Processes like degree attestation are sluggish and bureaucratic. As noted earlier, poor pedagogy—focused more on churning out research papers than on actual teaching—compounds the issue. Grievance mechanisms, where they exist, are largely symbolic and often fail to function effectively. Thousands of graduates each year find themselves underemployed or unemployable due to a mismatch between their academic training and the evolving demands of industry. Outdated curricula rooted in rote memorisation continue to dominate classrooms, with little emphasis on critical thinking, analytical reasoning, or hands-on experience. There is an urgent need to overhaul academic programs to reflect competency-based education models. Internships, project-based learning, and interdisciplinary exposure should be core components of university life to ensure that students are better equipped to contribute to the economy and society upon graduation. With the recent economic turmoil, households see little incentive to invest in higher education, given the opportunity cost, when the job market does not value it. This is not a reflection of poor effort by students but rather a structural failure of the economy to absorb skilled labour. Our higher education faces a cycle of underperformance driven by poor governance, underused research, outdated curricula, inequitable access, and much more. Disillusionment with education stems from real economic and institutional failures, not misplaced expectations. The solution isn't merely to spend more, but to invest more strategically, aligning resources with local needs and long-term national priorities. Charting the path to effective higher education Reparation necessitates firstly, to ensure meaningful autonomy for universities. Universities must be empowered to revise fees, design market-aligned programs, and recruit faculty without political interference. The government should prioritise repairing and strengthening existing large, underperforming institutions—rather than churning out new universities for rhetorical or political gains. Without such autonomy and a focus on institutional consolidation, even the most well-crafted policies cannot be implemented effectively. Secondly, a shift toward performance-based funding is needed. Rather than relying solely on base grants – or worst, mere whims – a significant portion of public funding should be tied to measurable outcomes, such as graduate employability, research commercialisation, innovation output, and teaching quality, not just enrollment figures. Faculty standards must be raised and teaching capacity enhanced. Recruitment criteria must be strengthened, regular pedagogical training institutionalised, and competitive salaries offered to attract and retain high-performing faculty. Promotion criteria should move beyond paper publication counts to also reflect classroom impact and real-world relevance. Regulator must actively enforce these standards. Academic programs should be with market needs. The Academic Council must actively incorporate market research to align courses with industry needs, without the looming fear of the regulator's sword. ORICs and BICs should be revitalised to translate curricular outcomes into commercially viable products. Curricula must prioritise critical thinking, applied learning, and digital skills. Stronger industry linkages, mandatory internships, and project-based learning are essential to make graduates job-ready and economically relevant. Local governments should be empowered to reduce regional disparities. Provincial and district administrations should be equipped with reliable data systems, timely funding, and real administrative and fiscal autonomy. This will allow them to craft localised solutions with agility, responsiveness, and accountability. Structural governance reform need to be implemented. University governance must be separated from management. Independent boards, free from political influence, should appoint vice-chancellors based on leadership merit. A national governance code, modelled after corporate standards, must enforce transparency, annual audits, and board accountability. Clear eligibility criteria for key positions, along with key performance indicators (KPI) based performance evaluation mechanisms for each member of strategic committees as well as for the vice chancellor, should be mandated. These evaluations should be conducted by an independent third party to ensure objectivity and credibility. It is imperative to prioritise equity and inclusion, especially for women. Education policy must centre on gender and geographic inclusion. This requires scholarships, safe transport options, and secure campuses for female students; digital access in rural areas; and targeted faculty recruitment for underdeveloped regions. Prioritising female education will unlock not only individual opportunity but also national productivity. Reform, not rhetoric, is the only sustainable path forward. Furqan Ali is a Peshawar-based researcher who works in the financial sector. He can be reached at alifurqan647@ Rabia Khan is an Islamabad-based writer and researcher focusing on national and international affairs All facts and information are the sole responsibility of the authors.
Express Tribune
19 hours ago
- Express Tribune
PSX scales new peak despite profit-taking
Foreign funds would divert their liquidity into buying Pakistan's stocks. This would merely increases prices of shares and be profitable for those who already hold stocks. PHOTO: FILE The Pakistan Stock Exchange (PSX) extended its bullish run in the shortened four-day trading week, with the benchmark KSE-100 index hitting an all-time high of 147,005 points before closing at 146,492, up 1,109 points, or 0.8% week-on-week (WoW). The rally was fueled by robust corporate earnings, Moody's upgrade of Pakistan's sovereign rating to Caa1 and optimism about the declining circular debt in the power sector, though profit-taking capped gains by the week's end. On a day-on-day basis, bulls marched towards 150k on Monday with full excitement as the KSE-100 index breached 146k and ended the day at 146,930, up 1,547 points, in anticipation of a Pakistan-US trade deal. The bourse had a consolidation day on Tuesday where the KSE-100 floated in both directions and ultimately ended at 147,005 (+76 points) by keeping intact the 147k level as investors did some switching-cum-profit-taking. On Wednesday, profit-booking around 148k pushed the index to close negative at 146,529, down 476 points. After the break of the Independence Day, the PSX ended the last session of the week on a flat note, settling at 146,492, down 38 points. During the day, investors largely squared off weekly positions, which kept sentiment mixed and prevented the index from holding above the 147,000 mark. Arif Habib Limited (AHL), in its weekly review, noted that during the four-day trading week, shortened due to the Independence Day holiday, the KSE-100 index maintained its upward trajectory, reaching an all-time high of 147,005 points on Tuesday. The rally was fueled by healthy corporate earnings during the ongoing results season. Furthermore, Moody's upgraded Pakistan's sovereign rating to Caa1 from Caa2, citing improving external buffers, fiscal consolidation and reform progress under the IMF programme. In addition to this, the circular debt in the power sector declined to Rs1,614 billion as of June 2025, AHL said. In July, the auto industry recorded sales of 11,034 units, down 49% month-on-month (MoM) but up 28% year-on-year (YoY). Furthermore, oil production registered an uptick of 0.8% WoW, arriving at 59,604 barrels per day. Production at the Makori East and Nashpa increased during the week. Also, the Pakistani rupee appreciated marginally by 0.14% WoW, closing at 282.06 against the US dollar, it said. The sectors that contributed positively were banks (1,062 points), cement (531 points), auto parts (104 points), auto assemblers (67 points) and investment banks (62 points). Meanwhile, sector-wise negative contribution came from fertiliser (318 points), E&P (214 points), oil marketing companies (159 points), power (102 points) and refinery (43 points). Scrip-wise positive contribution came from Meezan Bank (354 points), Lucky Cement (289 points), HBL (253 points), Bank Alfalah (158 points) and Mari Petroleum (136 points). On the other hand, negative contributors were Fauji Fertiliser Company (313 points), Pakistan Petroleum (198 points), UBL (195 points), OGDC (171 points) and Hub Power (125 points). Average daily volumes arrived at 606 million shares, down 7.2% WoW, while the average traded value settled at $143.8 million, down 13.1%, AHL added. Wadee Zaman of JS Global mentioned that the KSE-100 extended its bullish streak during the outgoing week, touching the high of 147,534 points before slipping into the red on Friday. The index closed at 146,492 points, up 0.8% WoW. Investor sentiment was driven by Moody's upgrade of Pakistan's rating to Caa1 with the outlook changed to stable, reflecting the country's improving external position. On the economic front, he said, the power-sector circular debt dropped to Rs1.6 trillion by the end of June 2025, showing a notable reduction of 33% from last year's level of Rs2.4 trillion. It was largely attributed to the disbursement of Rs801 billion to power producers under the government's stock clearance drive. The Power Division is also expected to present its final proposal for the complete implementation of debt re-profiling with the Chinese independent power producers (IPPs), whose dues currently stand at Rs475 billion. Meanwhile, as per trade data, services' exports rose 9.2% YoY to $8.4 billion in FY25, Zaman said.
