Punjab contributes 60pc share to pharmaceutical industry

Despite many challenges faced by the pharmaceutical industry, Punjab province contributes 60 per cent share to national pharma industry.
This was stated by Chairman Pakistan Pharmaceutical Manufacturing Association (PPMA) Punjab Haseeb Khan while talking to APP here on Sunday.
Pointing out challenges facing the industry in Punjab, he said that amendments to the Drug Act 76 by the last government, establishment of a Task Force, imposition of tax on import of raw material for medicines, establishment of Provincial Drug Regulatory Authority and inspection of pharma units were some of big hurdles to promotion of the pharmaceutical industry in the province. He said that different laws in different provinces also affect provincial harmony as well.
He said that when all matters relating to pricing, registering and licensing belonged to the Drug Regulatory Authority Pakistan, run by the federal government, then what was the reason for amending the Drug Act 1976, and provincial interference through task force and Provincial Drug Regulatory Authority.
He said that only selling matters of the pharma industry could be checked by the drug inspectors of the provincial governments. However, he said lately many favourable amendments had been made to the Drug Act 2018.
He said that 90 per cent of raw material had to be imported from China, India and European countries and tax on its import should be withdrawn to bring down the drug prices.
He dispelled an impression that prices of medicines are high in Pakistan, compared with other countries in the region, adding that despite 10 per cent availability of raw material locally, prices of locally prepared medicines are less than multinational companies.—APP

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