IndoCarib
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LAHORE - The government must not make any agreement with India at the cost of local industry, as the low cost Indian medics will wipe out the domestic pharma sector which is currently making huge profit amidst rising inflation and widespread corruption in the country.
The speakers, at a seminar, flayed the Most Favoured Nation Status to India, organised by the LCCI Standing Committee on Pharmaceuticals here at the Lahore Chamber of Commerce and Industry.
The LCCI President was of the view that pharmaceutical industry requires some special safeguards before the notification of MFN status to India as the Indian pharma sector is almost 10 times bigger than that of Pakistans. Moreover, there is no match between them if compare the pricing structure, R&D, cost of production, innovative scientific manpower of two countries.
Irfan Qaiser Sheikh said that Pakistans pharma industry cannot compete with Indian pharma industry which comes at 3rd place in the world in terms of volume.
He said that there are 20,000 phrama companies in India while in Pakistan the number of pharmaceutical manufacturers are only 600. In India there is an active central pricing board which reviews prices of drugs every six month while in Pakistan there is no drug pricing policy.
They said that how Pakistan pharma sector could face India where there is a low cost of production, low R&D cost and an innovative scientific manpower and increasing balance of trade against a high cost of Production and high cost of R&D in Pakistan.
Indian drugs to end Pak firms monopoly - The Nation
The speakers, at a seminar, flayed the Most Favoured Nation Status to India, organised by the LCCI Standing Committee on Pharmaceuticals here at the Lahore Chamber of Commerce and Industry.
The LCCI President was of the view that pharmaceutical industry requires some special safeguards before the notification of MFN status to India as the Indian pharma sector is almost 10 times bigger than that of Pakistans. Moreover, there is no match between them if compare the pricing structure, R&D, cost of production, innovative scientific manpower of two countries.
Irfan Qaiser Sheikh said that Pakistans pharma industry cannot compete with Indian pharma industry which comes at 3rd place in the world in terms of volume.
He said that there are 20,000 phrama companies in India while in Pakistan the number of pharmaceutical manufacturers are only 600. In India there is an active central pricing board which reviews prices of drugs every six month while in Pakistan there is no drug pricing policy.
They said that how Pakistan pharma sector could face India where there is a low cost of production, low R&D cost and an innovative scientific manpower and increasing balance of trade against a high cost of Production and high cost of R&D in Pakistan.
Indian drugs to end Pak firms monopoly - The Nation
