Expert says pharma sector can help boost country’s exports

KARACHI: Ateeq ur Rehman, economic and financial analyst, has said that the biggest potential to tap the growth of our exports and meeting our export targets, pharmaceuticals products of Pakistan could be the biggest opportunity to EU and UN.

He said this sector has remained to be untapped, so far. Partnering with EU companies or having consortium is expected to fetch like another US $20 to 25 billion from our exports, which is considerable, he said.

According to World Bank Group, Pakistan’s missing export is estimated at USD 61 billion but according to Abdul Razzak Dawood, Advisor to PM, presently it is USD 38.7 billion including USD 20 billion for textile sector. Our exports should cross USD 40 billion instantly and reach up to USD 65 billion, said Ateeq.

To meet the targets diversification of export goods is necessary. It may be traditional and non-traditional. Traditional exports are meant for USA, UK, EU, Canada, etc, while non-traditional exports for Central Asian Republics and African countries. Pakistan is successfully meeting the challenges of diversification of products, sectors, services and exports, he said.

The support given by European Union to our country is not only commendable but it is like tremendous generosity and great help to Pakistan, this is highly appreciable and shining example of help from them which includes the support of Danish and Swedish companies already operating in Pakistan, applauded Ateeq.

Copyright Business Recorder, 2021