Pakistan launches new pharma export council to boost overseas sales
Pakistan's pharmaceutical industry, valued at about $4 billion domestically, has recorded steady growth in exports in recent years but remains a relatively small player globally.
Commerce Minister Jam Kamal Khan announced the formation of the new council under the Trade Development Authority of Pakistan (TDAP) while addressing a gathering organized by the Pakistan Pharmaceutical Manufacturing Association (PPMA) earlier this month.
'The pharmaceutical sector has huge export potential, and PharmEx Pakistan is just one or two steps away from becoming operational,' Khan was quoted as saying by state-run Pakistan Television, adding that the government would continue to facilitate the industry in achieving higher international sales.
At the event, PPMA Chairman Touqeer ul Haq said the new council would work as a public-private initiative to strengthen compliance with international standards, improve market access, and showcase Pakistani products abroad.
Haq identified Afghanistan as a critical export destination and welcomed minister Khan's assurance of better coordination to keep cross-border trade smooth.
In addition to the new council, the government will also set up an Exporter Facilitation Desk at the ministry of commerce to resolve urgent problems faced by pharma exporters and ensure direct support when needed, minister Khan said.
The setting up of PharmEx is part of Islamabad's broader push to diversify exports beyond traditional sectors such as textiles, rice and sports goods, amid persistent current account pressures and the need to earn more foreign exchange.
According to PPMA data, pharmaceutical exports increased from $270 million in 2020–21 to about $355 million in the current fiscal year 2024–25, and industry leaders say the country has the potential to reach $3 billion in annual exports if regulatory hurdles and market access barriers are addressed.
Pakistan produces over 90 percent of its medicines locally, supplying a large portion of the country's health care needs and serving niche markets in Afghanistan, Central Asia and parts of Africa and the Middle East.
The industry, however, faces challenges such as high input costs, regulatory bottlenecks, and tough global competition.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Arab News
29 minutes ago
- Arab News
Deputy PM calls for modernizing port infrastructure to boost Pakistan trade competitiveness
ISLAMABAD: Pakistan's Deputy Prime Minister Ishaq Dar has called for modernizing the country's port infrastructure and streamlining the processes to bolster Pakistan's competitiveness in regional and global trade, state media reported on Tuesday. Dar said this at a meeting he presided over in Islamabad to review operations at Pakistani ports and proposals to enhance efficiency, reduce turnaround times and ensure smooth cargo handling. Pakistan is currently making efforts to capitalize on its geostrategic location to boost trade and investment alongside tourism as it slowly recovers from a macroeconomic crisis under a $7 billion International Monetary Fund (IMF) program. 'The meeting covered measures to address port congestion, strengthen trade facilitation, and improve logistics systems to support imports, exports and overall economic activity,' the Radio Pakistan broadcaster reported. Officials say the South Asian country plans to cut container dwell time at its seaports by up to 70 percent to improve trade competitiveness and ease congestion. Islamabad last month reduced port charges for exporters by 50 percent at the second largest Port Qasim. Earlier this month, Pakistan granted its first-ever ferry service license to an international operator, Sea Keepers, for routes connecting Pakistan with Iran and Gulf Cooperation Council (GCC) countries, the Pakistani maritime affairs ministry said on Monday. Maritime Affairs Minister Junaid Anwar Chaudhry hailed the move as a 'historic step,' aligned with Pakistan's National Maritime Policy, and emphasized the opportunity this license creates for boosting regional connectivity, religious tourism and economic activity via sea routes. 'Initial operations will commence from the ports of Karachi and Gwadar using modern ferry vessels equipped with essential amenities to ensure safe, affordable travel,' Chaudhry was quoted as saying by his ministry. It did not specify a date for the start of operations.
Arab News
2 hours ago
- Arab News
Pakistan finalizing US tariff deal strategy aimed at boosting copper sector investment
ISLAMABAD: Pakistan's commerce ministry has finalized a strategy for a recently negotiated tariff deal with the United States that Islamabad says could unlock American investment in the country's vast copper reserves, and submitted it to Prime Minister Shehbaz Sharif for approval, an official said on Tuesday. The agreement, announced last month by US President Donald Trump, set a reduced tariff rate of 19 percent on Pakistani imports, the government says is the lowest in the region and will help revive bilateral trade while paving the way for US firms to participate in Pakistan's mines and minerals sector. The South Asian nation ranks fifth globally in copper deposits, with major sites in Balochistan and Khyber Pakhtunkhwa positioning it as a potential major supplier to international markets. 'The commerce ministry has formulated a strategy for the tariff deal, which includes US investment in the mines and minerals sector, particularly copper, and forwarded it to the Prime Minister's Office,' Naveed Kallu, a public relations officer at the ministry, told Arab News. 'The final decision will be made by the prime minister and after approval further work will proceed as per that strategy.' Kallu said the most significant aspect of the deal was the US commitment to invest in Pakistan's minerals sector, noting that in similar agreements with countries like South Korea, Japan and the United Kingdom, those nations invested in the US in return for tariff reductions. 'The working group between the US and Pakistan is finalizing the modalities, and the American side will recommend its companies for copper exports from Pakistan,' he added. No memorandum of understanding related to the arrangement has been signed yet, but talks are said to be progressing well. Pakistan is also in advanced-stage discussions with Middle Eastern companies to export minerals, the official said. In a report to the National Assembly earlier this week, the country's commerce minister, Jam Kamal Khan, confirmed that during reciprocal tariff talks, the US expressed interest in investing in copper mining and processing in Pakistan, without naming companies. He noted that while Washington has imposed 50 percent tariffs on imports of copper, iron, steel and aluminum, refined copper has been exempted, making value-added copper exports more attractive for Pakistani producers. By focusing on value-added exports, such as refined copper, bars, rods and alloys, rather than raw ores, the minister said Pakistan could capture greater economic benefits from its mineral resources. He recommended detailed geological mapping by the Geological Survey of Pakistan (GSP) and improvements to infrastructure such as mine access roads and dedicated power supply to attract private sector investment and technology transfer 'Streamlining regulatory frameworks and addressing infrastructural gaps, such as mine access roads and dedicated power supply, will attract private sector involvement and technological innovation,' the statement added. Arab News sought comment from the US Embassy in Islamabad, the US Commerce Department and the GSP but received no responses before the publication of this story. Industry leaders say Pakistan's mineral wealth remains underexploited due to a lack of refineries and quality-testing facilities. 'Pakistan has vast mineral reserves including copper but lacks proper refineries to process them,' said Meer Behrose Regi, president of the All Pakistan Mines & Minerals Association. He said with adequate investment in refinery infrastructure, the country could export high-quality finished products rather than raw materials. Dr. Umer Aziz, a geologist, said US firms could play a transformative role if they invested in processing facilities. 'Pakistan needs substantial investment in refineries and other infrastructure, and if US firms are ready to invest, it would be an excellent opportunity to tap the sector's vast potential,' he said, adding that projects like Reko Diq, which holds both copper and gold reserves, would be a natural target.
Arab News
3 hours ago
- Arab News
Pakistan receives over 91,000 Hajj applications, intending pilgrims may apply till Aug. 16
ISLAMABAD: Pakistan has received 91,300 Hajj applications under the government scheme, while intending pilgrims may apply for the remaining seats till Aug. 16, the Pakistani religious affairs ministry said on Tuesday. Pakistan has a Hajj quota of 179,210 pilgrims for 2026, with 129,210 seats allocated for the government scheme and the rest for private tour operators. Applications for the remaining more than 37,000 seats under the government scheme can be filed through online portal or branches of 14 designated bank. 'The receiving of Hajj applications will be immediately stopped as soon as the available seats are filled,' the religious affairs ministry said in a statement. Under the government scheme, pilgrims can choose between a long Hajj package (38–42 days) and a short package (20–25 days). The estimated cost of the government Hajj package ranges between Rs1,150,000 and Rs1,250,000 (approximately $4,050 to $4,236). 'It is mandatory to submit the first installment of Rs500,000 or Rs550,000 along with the application according to the package,' the ministry said. 'The second installment of Hajj dues will be collected from November 1.' Saudi Arabia approved the same overall quota for Pakistan in 2025, but a significant portion of the private allocation went unused due to delays by tour operators in meeting payment and registration deadlines, while the government fulfilled its share of over 88,000 pilgrims. Private operators blamed the shortfall on technical issues, including payment processing and communication problems.
