Pakistan can increase its share of drugs exports from two to six Billion US$ - Tariq Ikram


Pakistan Pharma Summit Proceedings-III
Pakistan can increase its share of drugs
exports from two to
six Billion US$ - Tariq Ikram
Medicaments can emerge as the third largest potential for
Pakistan with exports of US$ 5.49 Billion by the year 2026

ISLAMABAD: Mr. Tariq Ikram former Minister of State and former Chief Executive Trade Development Authority of Pakistan who has also served as Chief Executive of various multinational companies including Pharmaceuticals was one of the invited guest speakers at the 5th Pakistan Pharma Summit organized by PPMA held here from February 18-19, 2020. In his presentation, he gave a realistic outlook for drugs exports from Pakistan, the current challenges and how to move forward.

He started his presentation by quoting a speech from Founder of Pakistan Quaid-e-Azam Mohammad Ali Jinnah who had said that “When its resources of men and material are fully mobilized with courage and determination, we mean to achieve a strong and prosperous Pakistan.” He went on to say that there are some people who live in the Dream world but at the same time there are some people who have the courage to face the reality and then there are those who turn one into the other. He reminded the audience that nothing great was ever achieved without enthusiasm and achievements can never be bigger than your ambition. During the first two years of this government, we have seen optimism and pessimism. But remember change demands Persistence, Passion, bold and demanding leadership but it is important to keep eyes and ears to the ground to change where necessary. One has to change with times and a bend in the road is not end of the road unless one fails to make the turn. To bring a change is not easy. In such a situation the existing business suffers but then thing start to happen. One has to Perform or Perish. One has to change with the times to survive. We started with an export of five million US Dollars which has now increased to over three hundred Million dollars. Potential for drugs exports are there but we are out of supply chain. We need to change our product niche. We had 120% increases in exports some years ago. We still have tremendous export potential as at present we just export 0.15% of world demand for drugs and medicines. We can increase our share and exports from two to six Billion US$ and won’t have to go to IMF for a bailout package of four billion US dollars.

Mr. Abdul Razzak Dawood Advisor to the Prime Minister presenting a memento to Mr.
Tariq Ikram who was one of the invited guest speakers at the 5th Pakistan Pharma
Summit organized by PPMA at Islamabad recently.

Continuing Mr. Tariq Ikram said that Pakistan’s two fundamental and critical needs to achieve the above dream are major and sustainable source of foreign exchange through exports of goods and services. There is need for a paradigm shift amongst all stake holders. Our current imports are predominantly necessities as it includes 69% of imports are of machinery and 15% are consumer goods. It means that we cannot significantly reduce our import bill without sacrificing the economic growth. Our balance of trade is now improving. As per IMF forecast Pakistan’s external debt will peak to $130 Billion within four years which will be a net addition of 34.6 Billion dollars. Export Vision, Mr. Tariq Ikram opined is the driver of all efforts. Pakistan can be a sovereign, progressive and efficient welfare state pursuing nationally, a focused export-led growth of globally integrated products and services aiming to achieve self-sufficiency for its foreign exchange needs. It is firmly anchored in concepts of sustainability, national cohesion and justice. Our strategic options to achieve the desired growth in the next eight years are based on “Demand led approach if we wish to see a debt free New Pakistan.” He also shared the details of projected world import of Pakistani exports and Pakistan’s export potential by 2026. At present our total exports are about Fifty Billion and major items being exported include Textile, Sports Goods, Rice, Petroleum products, Carpets, Cutlery, Leather and Surgical instruments. We need to target markets for market access. We need to be clear as to what should be our strategy and how it would be implemented. We need long term Export Development Strategy. Such a strategy, he explained is based on export intensive through national efforts, demand led which should be owned by the Prime Minister with a focus and prioritization through facilitation exporter defined needs. Our greatest challenge at present is poor implementation. Medicaments can emerge as the third largest potential for Pakistan with exports of US$ 5.49 Billion by the year 2026.

M. Zaka ur Rehman Chairman PPMA alongwith Mr. Tariq Ikram and Mr. Asim Rauf Chief of
DRAP chairing one of the sessions during the 5th
Pakistan Pharma Summit held recently.

Giving details of the leading Pharma exporters, he mentioned the names of Getz Pharma, Abbott Laboratories, Searle, Herbion, Merck, SZ International, CCL Pharmaceuticals, and Genix pharma, Novartis Pharma, PharmEvo, GlaxoSmithKline, Pfizer, Pharmacy, High noon and Zafa Pharmaceuticals. Some of the critical success factors include passion and commitment, perseverance, focus to achieve desired market share, aggressive demand generation, no compromise on quality, active collaboration with international pharmaceutical companies and legislative bodies, medical institutions, acquisitions and mergers. Ministry of Health and DRAP should offer facilitation but also ensure strict quality assurance. TDAP should provide focused promotional support, international assistance with regulatory matters, and timely effective facilitation at each stage of export besides dispute resolution. They should also provide time bound subsidies for medical representation, certification, and compliance besides Human Resource development support. However, he cautioned that to bring out a Change is never easy, if one takes two steps forward, at times one has to take one step back but it is important to keep the big picture in Mind. Pharmaceutical Industry of Pakistan, Mr. Tariq Ikram opined can emerge as the second largest exporter from Pakistan and success of this country was in your hands, he concluded.

© Professional Medical Publications. All rights reserved.