Islamabad: Chairman Senate, Syed Yousaf Raza Gilani, emphasized the significant role of the pharmaceutical sector in Pakistan’s economy and its expansion into global markets during his address at the 3rd Pharma Export Summit and Awards (PESA). The event, held at a local hotel in Islamabad, saw Gilani as the chief guest, where he spoke about the industry’s potential in high-value markets including Europe, the USA, and regions in Asia and Africa.
According to Senate of Pakistan, Gilani highlighted the pharmaceutical industry’s growth despite its smaller scale compared to multinational corporations. He pointed out that local companies are increasingly gaining market share, which showcases the industry’s capability to compete globally. The Chairman Senate outlined several strategic focus areas for the industry such as investing in innovation, fostering international collaborations, and embracing digital transformation to enhance Pakistan’s export capacity in this sector.
Gilani also stressed the importance of expanding research and development, improving regulatory frameworks, and strengthening public-private partnerships. He suggested a focus on the production of generic drugs and biosimilars to meet the growing global demand for affordable medications. Moreover, he addressed the need to reduce dependence on imported raw materials to save foreign exchange reserves, lower costs, and boost exports.
During his speech, Gilani acknowledged the top 50 exporters of pharmaceuticals and allied products, recognizing their contributions to both the industry and the broader economic landscape of Pakistan. He reassured the government’s commitment to creating a supportive environment for investment and maintaining competitive global standing for the industry.
Additionally, Gilani called upon all stakeholders and authorities to support and encourage the pharmaceutical industry, urging them to uphold high standards of quality and innovation. He concluded his address by congratulating the award winners and encouraged continued excellence and dedication towards a healthier and prosperous Pakistan.
The Chairman Senate also expressed his gratitude towards Mian Khalid Misbah ur Rehman, Chairman of Pakistan Pharmaceutical Manufacturers Association, and commended the efforts of all organizers involved in the event.