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Aftab Maken
ISLAMABAD: Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb on Thursday commended the pharmaceutical industry’s strong performance, highlighting a record 34% increase in exports as a sign of resilience and innovation despite economic challenges.
He was speaking during a meeting with a high-level delegation of the Pakistan Pharmaceutical Manufacturers’ Association (PPMA), led by its newly elected Chairman, Dr. Tahir Azam. The delegation also included Vice Chairman Athar Nazir Sheikh, former chairmen Mian Asad Shuja and Mian Khalid Misbah, and Executive Committee members Aman Sheikh and Usman Shaukat.
The discussions at the Finance Division centered on the pharmaceutical sector’s export performance, government-led reforms, and a forward strategy to make Pakistan a key player in the USD 1.6 trillion global pharmaceutical market.
The PPMA delegation presented its export growth vision through PharmEx Pakistan — a dedicated export facilitation platform aimed at achieving USD 3 billion in exports within three years and USD 10 billion within the next eight years. The proposed entity will act as a joint platform of the Ministries of Health, Commerce, and Finance, along with the Trade Development Authority of Pakistan (TDAP) and the Drug Regulatory Authority of Pakistan (DRAP), led by the private sector.
The PPMA informed that the industry’s exports recorded a 34% year-on-year rise — the highest ever — reflecting the growing capacity and competitiveness of local manufacturers. The delegation also credited the government’s “regulatory guillotine” initiative for reducing product registration timelines from several years to a few weeks, significantly easing operational bottlenecks.
Finance Minister Aurangzeb praised the sector’s exceptional performance, noting that Pakistan’s domestic pharmaceutical growth rate of 18% and export growth of 34% far outpace the global average of 5%. “Your performance in a globally competitive environment is extraordinary,” he said, adding that as Pakistan’s macroeconomic stability improves, the industry’s growth potential will expand further.
He reaffirmed the government’s commitment to facilitating the pharmaceutical sector’s expansion through fiscal and regulatory reforms, investment incentives, and stronger public-private partnerships. “Our economic vision prioritizes export growth, industrial competitiveness, and innovation — and the pharmaceutical industry is leading on all three fronts,” the minister emphasized.
Senator Aurangzeb assured that the Finance Division, in collaboration with other ministries, will continue to address policy challenges and promote an export-led growth model for the sector. He also lauded the PPMA’s efforts to provide affordable and quality medicines domestically while enhancing Pakistan’s industrial and healthcare capabilities.
The meeting concluded with a shared commitment between the government and the PPMA to strengthen collaboration through the PharmEx Pakistan framework, aimed at positioning Pakistan as a competitive pharmaceutical exporter in regional and global markets.
