Pakistan’s pharmaceutical exports rose by 22.6 per cent in the first quarter of the current fiscal year.
The news was shared by Adviser to the Prime Minister on Commerce and Investment Abdul Razak Dawood in a tweet on Monday.
“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 22.6pc in the first quarter (Q1) to USD 68.1 million as compared to USD 55.6 million in the corresponding period last year,” he wrote.
Alhamdolillah, our exports have maintained the growth trend in October 2020. Our exports have crossed the 2 billion mark after July 2020 and are back on track to pre-COVID- 19 levels. This is despite the contraction in our major markets due to COVID-19 and… 1/2
— Abdul Razak Dawood (@razak_dawood) November 2, 2020
“All this has been due to the hard work our Pharmaceutical exporters and a renewed focus on exports,” the PM’s advisor added, 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 had referred to figures released by the World Bank (WB) projecting that major economies of the West, Japan, South Korea etc. will post negative growth rates as economies contract due to the pandemic.
“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.