Balanced pharma regulations sought

Punjab governor says strict regulations carry risk of companies departing

LAHORE:

Punjab Governor Muhammad Balighur Rehman, addressing media at the inauguration of the two-day Pak Pharma and Healthcare Expo at Lahore’s Expo Centre, underscored the importance of a balanced regulatory framework for the pharmaceutical industry, according to a statement release on Wednesday.

He stressed that while the caretaker government’s initiative to deregulate medicine prices was commendable, regulations should not be overly stringent, risking the departure of pharmaceutical companies from the industry.

According to the statement, the 16th Pak Pharma & Healthcare Exhibition & Conference (PPE) commenced with over 400 stalls and the participation of 100 foreign and local exhibitors. The event was organised by Prime Event Management with support from the Pakistan Pharmaceutical Manufacturers Association (PPMA).

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Rehman highlighted the need for regulations that prevent the exploitation of patients while fostering a conducive environment for pharmaceutical companies to thrive. He also called for the prompt convening of the Punjab Assembly session to facilitate the formation of a new government, reaffirming the government’s commitment to constitutional duties.

Reflecting on past governmental actions, the governor commended the organisers for a successful expo, highlighting the significance of local production of pharmaceutical raw materials in driving sectoral growth and promoting technology and exports.

PPMA Chairman Mian Misbahur Rehman echoed the call for pharmaceutical pricing reforms, advocating for a transition towards a system aligned with WHO standards to ensure fair pricing and accessibility of medicines. Meanwhile, organiser Kamran Abbasi highlighted the expo’s exclusive focus on pharmaceutical equipment and healthcare essentials, offering a comprehensive platform for industry stakeholders to explore cutting-edge solutions and forge partnerships.

Published in The Express Tribune, February 22^nd, 2024.

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