Pakistan sets $30b medical exports target during next five years: Minister

Federal Health Minister Syed Mustafa Kamal announced on Monday that Pakistan has set an ambitious target to boost its pharmaceutical and medical device exports to $30 billion within the next five years under new fast-track licensing system, reported 24NewsHDTV Channel. 

Health Minister Mustafa Kamal stated this while chairing a meeting of DRAP to review the progress on the project. 

Federal Secretary of the Ministry of Health, CEO DRAP and other senior officials attended the meeting. 

Kamal said the government was committed to increase the export of medicines. He said DRAP team and the Ministry of Health were reviewing the progress of this project and ensuring all steps will be taken to access major global trading blocs. Health Minister said government was ensuring all possible steps to achieve the goals.

He said that Pakistan’s current exports of pharmaceuticals and medical devices stand at less than $1 billion, but with the cooperation of the Medical Devices Association, the government is set to elevate the sector to $30 billion within five years. 

Kamal said this project was not a numerical target but will be a symbol of Pakistan's economic stability. He said the pharmaceutical sector will be transformed into an export industry to strengthen the national economy. 

He said follow-up meetings will be held to monitor the project and maintain continuity in progress.