The Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, has stated that the domestic pharmaceutical growth of Pakistan stands at 18 percent, compared with the global average of 5 percent, supported by an exceptional 34 percent export growth rate.
He expressed these views during a meeting with a high-level delegation of the Pakistan Pharmaceutical Manufacturers’ Association (PPMA).
The PPMA delegation, led by its newly elected Chairman, Dr Tahir Azam, along with Vice Chairman Athar Nazir Sheikh, called on the Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, to discuss export growth, industry reforms, and the roadmap for expanding Pakistan’s pharmaceutical footprint in global markets.
Senator Aurangzeb commended the pharmaceutical sector’s resilience and innovation. “Your performance in such a globally competitive environment is extraordinary,” he applauded the industry’s outstanding performance, adding that the government’s macroeconomic stabilisation measures would further strengthen the industry’s outlook.
The Finance Minister, Senator Muhammad Auranzeb, reaffirmed the government’s support for the sector’s expansion plans and appreciated the proactive engagement of the PPMA in driving export growth and improving competitiveness.
He stressed that the government’s broader economic strategy focuses on boosting exports, attracting investment, and deepening public-private partnerships, areas where the pharmaceutical industry is playing a leading role.
Senator Aurangzeb assured that the Ministry of Finance will continue to facilitate the sector in collaboration with other relevant ministries and institutions to address fiscal and regulatory challenges and enable sustainable export-led growth.
During the meeting, the PPMA delegation discussed the establishment of PharmEx Pakistan, a dedicated pharmaceutical export platform to plan and execute strategies for achieving USD 3 billion in pharmaceutical exports within the next three years, and USD 10 billion over the subsequent five years.
The proposed entity would serve as a one-window platform jointly managed by the Ministries of Health, Commerce, and Finance, along with TDAP and DRAP, led by the private sector.
The PPMA delegation also highlighted the sector’s strong export performance, reporting a record 34 percent year-on-year increase, the highest on record, despite economic challenges. The PPMA attributed this growth to supportive regulatory and fiscal policies and the deregulation of non-essential drugs.
The global pharmaceutical market currently stands at over USD 1.6 trillion, and Pakistan’s pharmaceutical sector driven by deregulation of non-essential drugs and supportive regulatory and budgetary measures has emerged as a strong growth area.
The PPMA delegation informed that pharmaceutical exports have registered a record 34 percent year-on-year increase, the highest on record, reflecting the resilience, capacity, and innovation of the local industry despite economic headwinds.
The PPMA delegation also praised the government’s regulatory guillotine initiative, which has reduced product registration timelines from several years to just a few weeks, a reform widely welcomed by the industry.
The meeting concluded with both sides agreeing to maintain close coordination to enhance export competitiveness and move forward under the proposed PharmEx Pakistan initiative.