Muhammad Ahmed Waheed, President, Islamabad Chamber of Commerce & Industry has said that pharmaceutical industry has the potential to boost exports of billions of dollars and government should focus on resolving its key issues that would help in improving country's exports.
Islamabad (Pakistan Point News / Online - 05th October, 2019) Muhammad Ahmed Waheed, President, Islamabad Chamber of Commerce & Industry has said that pharmaceutical industry has the potential to boost exports of billions of Dollars and government should focus on resolving its key issues that would help in improving country's exports. He said this while addressing a delegation of Kahuta Industrial Triangle, Islamabad that visited Chamber House led by Nasir M.
Qureshi, senior member of ICCI and a pharma industrialist.MianAkramFarid, Ch. Waheedud Din, MianShaukatMasud, Shaukat Hayat Khan, Haji Humayun, Humayun Latif, Fida Butt, Iftikhar Anwar Sethi, Naeem Siddiqui and others were also present at the occasion.Muhammad Ahmed Waheedsaid that despite decline in Pakistan's exports, pharma industry's exports have witnessed significant growth during the last five years. He said that pharmaceuticals exports have improved from around US$ 200 billion in 2012-13 to over US$ 250million by 2018-19 and if government removed all hurdles in the way of its growth, its exports could cross $1 billion mark.
Muhammad Ahmed Waheed said that pharma industry was importing more than 90 percent raw material which was main hurdle in its better growth. He said that government should offer special incentives to investors for setting up industrial units to produce pharma raw material in the country that would go a long way in promoting exports of pharmaceutical products.ICCI President said that government should also reduce duties and taxes on the import of pharma technology and machinery that would help in upgrading this important industry. He said that Kahuta Industrial Triangle needed close attention of CDA and MCI for redress of its problems and assured the delegation that ICCI would fully cooperate in resolving theirkey issues for better growth of business activities.