WNAM REPORT: Finance Minister Senator Muhammad Aurangzeb on Thursday praised Pakistan’s pharmaceutical industry for achieving a record 34 percent growth in exports, calling it an “extraordinary performance” amid global competition.
A high-level delegation of the Pakistan Pharmaceutical Manufacturers’ Association (PPMA), led by newly elected Chairman Dr. Tahir Azam, met with the finance minister and senior officials at the Finance Division to discuss export performance, reform initiatives, and the roadmap for making Pakistan a major global player in pharmaceuticals.
The PPMA delegation included Vice Chairman Athar Nazir Sheikh, former chairmen Mian Asad Shuja and Mian Khalid Misbah, and Executive Committee members Aman Sheikh and Usman Shaukat.
During the meeting, the delegation shared plans for the establishment of PharmEx Pakistan — a dedicated pharmaceutical export platform that will coordinate efforts to boost annual exports to USD 3 billion within three years and USD 10 billion over the following five years. The platform is proposed as a joint initiative 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.
According to PPMA representatives, Pakistan’s pharmaceutical exports recorded the highest-ever annual increase of 34 percent, reflecting the industry’s resilience, innovation and capacity despite economic challenges. The sector, they said, has benefited from deregulation of non-essential drugs and a series of regulatory and fiscal reforms that have created a more conducive business environment.
The delegation also lauded the government’s “regulatory guillotine” initiative, which has cut bureaucratic hurdles and reduced drug registration timelines from three to four years to just a few weeks — a reform widely welcomed by the industry.
Dr. Tahir Azam briefed the finance minister on the proposed structure of PharmEx Pakistan, which aims to serve as a one-window platform for export promotion through trade facilitation, market diversification, global certification support and international collaboration.
Finance Minister Aurangzeb commended the PPMA for its proactive role in driving exports, noting that while global pharmaceutical growth averages around 5 percent, Pakistan’s domestic pharmaceutical sector is expanding at 18 percent annually, supported by an export growth rate of 34 percent.
“Your performance in such a globally competitive environment is extraordinary,” Aurangzeb said, adding that as Pakistan’s macroeconomic stability continues to strengthen, the sector’s growth prospects will improve further.
The minister reaffirmed the government’s commitment to supporting the pharmaceutical industry through fiscal and regulatory facilitation in coordination with relevant ministries and institutions. He emphasized that boosting exports, attracting investment, and fostering public-private partnerships remain central to the government’s economic strategy — and that the pharmaceutical industry is at the forefront of those efforts.
Aurangzeb also praised the industry for ensuring the availability of affordable and quality medicines for the people of Pakistan while expanding the country’s healthcare and industrial base.
The meeting concluded with a shared understanding to maintain close coordination between the government and the PPMA to strengthen Pakistan’s export competitiveness and achieve the ambitious growth targets outlined under the PharmEx Pakistan initiative.
