The Special Investment Facilitation Council (SIFC) again confirmed its support for the policy of canceling the restrictions in the government for unnecessary drugs, describing it as a big step towards updating the pharmaceutical industry in Pakistan. It was presented in February 2024, which allowed the abolition of the market pricing for the non -listed drugs in the National List of Basic Medicines (NEML), with the aim of encouraging investment, innovation and competitive pricing. SIFC stated that the initiative already shows positive results, with 52 % increased drug exports in the first half of the fiscal year 25.
This policy attracted the increase in investment in research and development (R&D) and improving compliance with international international organizational standards, including those for FDA, and MHRA. It is expected that the entry of global pharmaceutical companies to the Pakistan market will expand the available group of medicines, which makes advanced treatment options within the reach of specialists in the field of health care and patients. In addition, the cancellation of the regulatory restrictions has strengthened, reducing fake medicines, and improving the transparency of drug pricing through a tougher organizational application.
Amid concerns about the high prices, the President of the Pakistan UL Haq Claims rejected the claims that the prices of medicines have increased 15 times in five years. Quoting iQVia Q3 data, he explained that the actual price increase, after excluding the launch of new products and extensions, was 15.62 %, which he considered reasonable given the reduction in the value of the currency and the high production costs. He also stressed that canceling restrictions only allows viable products to adapt to price, ensuring that competition keeps prices stable.
This initiative also played a role in reducing the availability of fake and smuggled drugs, as it meets the increase in domestic production. Pharmaceutical exports in Pakistan are now expected to cross a billion dollars in the fiscal year 25, with experts from the Federation of Chambers of Commerce and Industry in Pakistan (FPCCI), with an estimate that the sector can generate $ 5 billion in annual exports with the support of politics. With the friendly regulations for investors, the pharmaceutical industry has been set for continuous growth, as it takes advantage of the economy and public health.
