Govt backs PPMA’s expansion plans, discusses roadmap for $3 billion pharma export target by 2028

ISLAMABAD: Minister for Finance Senator Muhammad Aurangzeb has reiterated the government’s full support for the growth and export ambitions of Pakistan’s pharmaceutical sector. During a meeting with a high-level delegation of the Pakistan Pharmaceutical Manufacturers’ Association (PPMA) on Thursday, he praised the sector’s performance and acknowledged its crucial role in expanding exports and enhancing competitiveness.

The PPMA delegation, led by newly elected Chairman Dr. Tahir Azam, shared updates on the sector’s progress, highlighting an 18% domestic growth and a remarkable 34% increase in pharmaceutical exports. The finance minister commended this achievement, noting that while global pharmaceutical growth averages around 5%, Pakistan’s pharmaceutical sector is outperforming on the international stage.

Senator Aurangzeb emphasised the government’s broader economic strategy, which focuses on boosting exports, attracting investment, and fostering public-private partnerships. 

He assured the PPMA that the Ministry of Finance would continue working alongside relevant ministries to address fiscal and regulatory challenges and support sustainable, export-driven growth.

The meeting also highlighted the establishment of PharmEx Pakistan, a new platform aimed at boosting pharmaceutical exports to $3 billion within three years and $10 billion over the next five years. The initiative will bring together key stakeholders from the health, commerce, and finance ministries to streamline export processes and improve global competitiveness.

The delegation also discussed significant regulatory reforms, including the government’s regulatory guillotine initiative, which has reduced bureaucratic delays and sped up product registration from years to just weeks.

The government and PPMA agreed on the need for continued coordination to strengthen Pakistan’s position in the global pharmaceutical market and achieve its ambitious export targets under the PharmEx Pakistan initiative.