Pakistan’s pharmaceutical exports rise 22.6% in first quarter


ISLAMABAD : Pakistan’s pharmaceutical exports rose by 22.6 per cent in the first quarter of the current fiscal year, Adviser to the Prime Minister on Commerce and Investment Abdul Razak Dawood said on Monday.

He tweeted: “Alhamdolillah, I am glad to share that our Pharmaceutical exports have gotten off to a good start this year. In value terms, our exports have grown by 22.6% in the first quarter (Q1) to USD 68.1 million as compared to USD 55.6 million in the corresponding period last year.”

“All this has been due to the hard work our Pharmaceutical exporters and renewed focus on exports,” he said, expressing gratitude to Special Assistant to the Prime Minister (SPAM) on National Health Services, Regulations and Coordination Dr Faisal Sultan and his team for their “valuable” support to the pharmaceutical sector.

On October 27, Dawood had tweeted that the coronavirus pandemic was an unprecedented crisis in recent human history with far-reaching implications on the global economy.

He said recent figures released by the World Bank show that the pandemic has caused GDP contraction around the world, projecting that the major economies of the West, Japan, South Korea etc. will post negative growth rates.

“With the world returning to lockdowns, amid coronavirus resurgence, the demand for our exports may also be affected,” he said, appealing to exporters to be “vigilant and aggressive” so that they may be able to sustain their presence in the global markets.