Islamabad: The Special Investment Facilitation Council (SIFC) is exploring the establishment of a Pharma Economic Zone, a move aimed at promoting medical tourism and bolstering foreign investment in Pakistan’s pharmaceutical sector. This initiative aligns with the broader effort to develop Special Economic Zones (SEZs) under the China-Pakistan Economic Corridor (CPEC), with a dedicated focus on the pharma industry.
According to Ministry of Information and Broadcasting, the Ministry of Health has been tasked with drafting an immediate action plan following a pre-feasibility study, to expedite the development of the Pharma Economic Zone. This project seeks to enhance Pakistan’s appeal as a destination for medical tourism and attract significant foreign investment, particularly from China.
Additionally, the government is considering a proposal to deregulate the prices of medical products as part of its strategy to attract more investment into the pharmaceutical sector. This regulatory adjustment is expected to make the Pakistani market more attractive to international investors by providing more flexibility in pricing.
The establishment of the Pharma Economic Zone and the deregulation of medical product pricing are part of a broader strategy to strengthen Pakistan’s pharmaceutical industry and position the country as a significant player in the global healthcare market.