Federal Health Minister Syed Mustafa Kamal announced on Wednesday that Pakistan finalized memorandums of understanding (MoUs) worth USD 800 million during a business-to-business conference held in Islamabad. The event facilitated agreements between Chinese and Pakistani companies aimed at expanding investment in the nation’s pharmaceutical and healthcare industries.
The conference concentrated on six sub-sectors within the pharmaceutical field and brought together 140 Chinese companies alongside over 200 Pakistani firms. During the event, 22 agreements were signed, covering areas such as pharmaceutical raw materials, vaccines, and medical devices. Notably, nine of these agreements were inked in the presence of Prime Minister Shehbaz Sharif.
In a significant development, Kamal highlighted the introduction of Pakistan’s first-ever national vaccine policy, marking a crucial step toward strengthening the healthcare system. He pointed out that although Pakistan currently administers 13 vaccines, all are imported.
The minister further explained that while 85% of medicines consumed in Pakistan are produced domestically, approximately 95% of the raw materials required for pharmaceutical manufacturing are imported. Additionally, 99% of medical devices used in the country are sourced from abroad, underscoring the urgent need to enhance local production capabilities.
The government is actively working to modernize the health sector, with the Drug Regulatory Authority of Pakistan (DRAP) already initiating the digitization of its systems. This process is expected to be fully completed within the next year. Kamal noted that this digital transformation has drastically reduced the approval time for medical devices, which previously ranged from two and a half to three years.
Pakistan currently exports medicines to 52 countries, and the minister expressed optimism that increased investment and technology transfer will further strengthen the pharmaceutical industry. He described healthcare as a sector with substantial long-term growth potential, emphasizing that Pakistan’s population has surpassed 260 million and continues to grow rapidly. The country is projected to become the world’s fourth most populous by 2030, which will drive sustained demand for healthcare services and pharmaceuticals.
Kamal also commended the Islamabad Police for their role in facilitating foreign delegations attending the conference, noting that the event attracted international attention to Pakistan’s efforts to expand cooperation in the healthcare sector.
