ISLAMABAD: The Ministry of National Health Services, Regulations and Coordination (NHSR&C), Tuesday, held its first meeting of the technical working group on pharmaceutical sector enhancement with a focus on the establishment of the first health city in the country aiming at revolutionizing the healthcare sector of Pakistan.
The Ministry of National Health Services and Regulations Secretary, Iftikhar Ali Shallwani, chaired the inaugural meeting of the technical working group.
The primary objective of this group is to address the current challenges facing the pharmaceutical sector in Pakistan and to develop immediate and long-term solutions to bolster investment and exports in the industry.
Last year, the government in collaboration with the pharmaceutical industry of the country has taken the initiative under which the government and the pharmaceutical sector are focusing to take the country’s pharmaceutical sector exports to $5 billion within the next five years.
The meeting was attended by key stakeholders including representatives from the Drug Regulatory Authority of Pakistan (DRAP), the National Institute of Health (NIH), the Pakistan Pharmaceutical Manufacturers Association (PPMA), the Federal Board of Revenue (FBR), and the Board of Investment (BoI), focused on listening to the concerns raised by the pharmaceutical industry and providing necessary support from the ministry.
The NHSR&C secretary highlighted the significant progress made under the ministry's leadership, particularly in achieving deregulation milestones. He emphasized the ministry's commitment to establishing a Health City in Islamabad, a comprehensive healthcare ecosystem that includes a state-of-the-art hospital, diagnostic labs, a medical tower, a centre for medical tourism, and a pharmaceutical economic zone. This initiative aims to enhance indigenous pharmaceutical production, promote sustainable practices, and attract foreign investment by offering a conducive business environment.
Recognising the pharmaceutical manufacturing sector as vital to the economy, Shallwani emphasised the need for a competitive market and ease of doing business. He encouraged potential investors to invest in the sector to diversify and lower drug prices, thus breaking monopolies.
Shallwani advocated for providing incentives to the pharmaceutical sector and solicited proposals from industry representatives to streamline pricing and price control mechanisms for essential and non-essential drugs.
He stressed the importance of adhering to international standards to improve the export prospects of Pakistani pharmaceutical products and underscored the ministry's commitment to taking stringent measures against counterfeit drugs and those endangering public health.
The Ministry of NHSR&C reaffirms its dedication to fostering a conducive environment for the pharmaceutical industry to thrive, thereby, contributing to the overall health and well-being of the nation.
Copyright Business Recorder, 2024