Latest news with #PharmaxPakistan
Business Recorder
5 days ago
- Business
- Business Recorder
Govt vows full support for pharma sector, announces export issues desk
Federal Minister for Commerce Jam Kamal Khan on Wednesday reaffirmed the government commitment to boosting pharmaceutical exports, announcing the establishment of an empowered Pharma Export Promotion Council, PharmEx Pakistan, under the Trade Development Authority of Pakistan, according to a ministry statement. 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.
Business Recorder
5 days ago
- Business
- Business Recorder
Jam Kamal Khan vows full support for pharma sector, announces export issues desk
Federal Minister for Commerce Jam Kamal Khan in Wednesday reaffirmed his commitment to boosting pharmaceutical exports, announcing the establishment of an empowered Pharma Export Promotion Council, PharmEx Pakistan, under the Trade Development Authority of Pakistan. 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.
