Interim Commerce Minister Sets $1 Billion Export Target for Pharma Industry

Caretaker Federal Minister for Commerce Dr. Gohar Ejaz, held a meeting with a delegation of Pakistan Pharmaceutical Manufacturers’ Association (PPMA), led by its Chairman Farooq Bukhari on Monday. The minister’s primary agenda was to discuss and strategize ways to boost the pharmaceutical industry’s exports. During the meeting, an ambitious target of achieving a one-billion-dollar export milestone for the industry was set. The minister expressed his unwavering commitment and support to the pharmaceutical sector, not only in his official capacity but also on a personal level. He assured the delegation of his dedication to creating an environment conducive to the industry’s growth. He further emphasized the importance of focusing on exports to improve the country’s economic condition. He urged the pharmaceutical delegation to formulate a comparative policy framework with regional countries. The minister directed this framework to be presented by Wednesday, with the goal of aligning the industry with regional peers and facilitating increased exports. The meeting concluded on a positive note, with the pharmaceutical industry leaders appreciating the minister’s support and dedication to their sector. It is pertinent to mention here that the country’s exports of pharmaceutical products stood at $328.208 million during the fiscal year 2022-23 (FY23).