KARACHI/ISLAMABAD: The Special Investment Facilitation Council (SIFC) convened an emergent meeting with the Pakistan Pharmaceutical Manufacturers Association (PPMA) in Islamabad, attended by PPMA Chairman Tauqeer ul Haq, Vice Chairman and Executive Director Col Nayyar, stated a press release on Friday.
The SIFC team, led by its director-general, was joined by Special Assistant to the Prime Minister on Industries Haroon Akhtar. The PPMA chairperson thanked the SIFC for endorsing amendments to the drug law regarding directors’ liability. He, however, voiced concern over the uncertainty created by a third-party survey commissioned by DRAP on the prime minister’s advice, noting that industry stakeholders had not been included in the exercise.
He underscored the positive outcomes of deregulation, including improved medicine availability, resolution of shortages and a 34 per cent surge in pharmaceutical exports. Akhtar strongly supported the deregulation policy, emphasising its role in restoring medicine supply to pharmacies and driving record export growth. He urged the SIFC to safeguard the policy, enabling the industry to expand further.
The SIFC assured continuity of the reforms. The PPMA chairperson also delivered a comprehensive presentation and submitted a position paper on export opportunities in Uzbekistan and Azerbaijan.
Akhtar, who is scheduled to visit Uzbekistan, sought the PPMA’s recommendations and confirmed that banking channels are being resolved, with 11 banks set to open branches there. Later, the PPMA delegation joined a high-level meeting with the Uzbekistan ambassador, senior bankers, the finance secretary and ministry officials, where Tauqeer presented challenges and prospects for expanding exports to Uzbekistan.
The DG SIFC praised the PPMA’s proactive role in partnering with the government to reform the pharma sector, ensuring medicine availability and driving export growth. Overall, both meetings were described as highly productive, strengthening collaboration between government and industry for sustainable expansion.
