KARACHI (APP) - Pakistan Pharmaceutical Manufacturers Association (PPMA) has urged the government to cancel the decision to register those imported drugs that are manufactured by the local pharma industry.
In a statement here on Tuesday, PPMA Chairman Zahid Saeed said that the decision would not only hurt the strife-stricken local manufacturers but also put a burden on the national exchequer in the shape of tax revenue loss.
He said that local pharma industry was already facing difficulties and the decision to register medicines imported from Thailand and China will serve as the last nail in its coffin.
He said that Drug Registration Board in its recently held 219th meeting had approved registration of imported drugs being manufactured in China and Thailand with out the consultation of the PPMA.
Such decisions would destroy local pharmaceutical industry which is already struggling for its survival, he noted.
Saeed suggested the government to import medicines from those countries which also allow import of drugs of Pakistani pharma companies to their market.
These countries should also allow export of Pakistani drugs on similar conditions which are applied to their drugs in Pakistan, he added.
PPMA chief urged the government to prepare laws on the pattern of Saudi Arabia, UAE, India and Bangladesh, allowing import of only those drugs which are supplied in the developed world.
Saeed noted that drug prices would be surged manifold, if the registration of these imported drugs is not cancelled immediately.
This will also result in the loss of tax revenue, closure of local pharma companies to render hundreds as jobless and loss of hard- earned precious foreign exchange.
He pointed out that local pharma industry has invested over $ 1.
5 billion in expansion and there is a need to further encourage investment by local pharma companies and this investment should be protected.