PPMA thanks SIFC for endorsing amendments to drug law

ISLAMABAD: The Special Investment Facilitation Council (SIFC) convened an emergent meeting with the Pakistan Pharmaceutical Manufacturers Association (PPMA) in Islamabad on Friday.

PPMA Chairman Tauqeerul Haq, Vice Chairman, and Executive Director Col Nayyar, the SIFC team, led by its Director General, was joined by Haroon Akhtar Khan, Special Assistant to the Prime Minister on Industries.

Opening the session, the PPMA chairman thanked 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 percent surge in pharmaceutical exports.

SAPM Haroon Akhtar strongly supported the deregulation policy, emphasizing its role in restoring medicine supply to pharmacies and driving record export growth. He urged SIFC to safeguard the policy, enabling the industry to expand further. SIFC assured continuity of the reforms.

The PPMA chairman also delivered a comprehensive presentation and submitted a position paper on export opportunities in Uzbekistan and Azerbaijan. Haroon Akhtar, who is scheduled to visit Uzbekistan, sought 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 Chairman Tauqeerul Haq presented challenges and prospects for expanding exports to Uzbekistan.

DG SIFC praised 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.