Cabinet approves contract manufacturing for pharma sector

The federal cabinet on Thursday approved the proposal related to contract manufacturing for the pharmaceutical sector.

This was announced by Advisor to Prime Minister on Commerce Abdul Razak Dawood on his twitter account, adding that: “It will open new avenues for export and joint venture opportunities for our pharmaceutical industry”.

The advisor informed that contract manufacturing enables SMEs to begin selling their products without obtaining a large amount of capital necessary to build and run a factory. “This will also bring new job opportunities,” he said.

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Earlier while addressing the 1st Pharma Export Summit and Awards (PESA) 2021 ceremony, Dawood had said that the government has set an export target of $38 billion for the current fiscal year in consultations with the relevant stakeholders.

“The government will try to take the exports of goods and services to the $40-billion mark,” he had added.

 

 

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