Finance Minister lauds pharma sector’s 18% growth, presents vision for $10bn exports

Finance Minister Senator Muhammad Aurangzeb has praised the pharmaceutical industry for its remarkable performance, highlighting that Pakistan’s domestic pharmaceutical market has recorded 18% growth compared to the global average of around 5%.

Speaking at a meeting with representatives of the Pakistan Pharmaceutical Manufacturers Association (PPMA), the minister noted that the sector’s exports have surged by an impressive 34%, underscoring its growing global competitiveness.

“Your performance in such a globally competitive environment is extraordinary,” Aurangzeb remarked, adding that as Pakistan’s macroeconomic indicators stabilise, the industry’s growth potential will further strengthen.

Pakistan’s pharma sector given $30bn export target

He reaffirmed the government’s commitment to supporting the sector’s expansion plans and commended the PPMA’s proactive engagement in promoting exports and enhancing competitiveness.

Aurangzeb said the government’s broader economic strategy is centered on boosting exports, attracting investment, and fostering public-private partnerships, areas where the pharmaceutical industry continues to play a leading role.

The minister assured that the Ministry of Finance would continue to work closely with relevant ministries and institutions to address fiscal and regulatory challenges, promote trade facilitation, and enable sustainable export-led growth.

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He also lauded the PPMA’s contribution to ensuring the availability of affordable, quality medicines across Pakistan while strengthening the country’s healthcare and industrial base.

The meeting concluded with a shared commitment to deepen coordination between the government and the pharmaceutical industry under the proposed PharmEx Pakistan initiative to enhance export competitiveness and achieve the sector’s ambitious growth targets.