20/01/2023
Pakistan has only two days’ worth of raw material left for the production of medicines – an office bearer of the manufacturers’ association warned on Thursday, lambasting the governor of the central bank and finance minister for their callous attitude towards the grave situation.
In a Senate Standing Committee meeting on finance, Arshad Malik, who represented the Pakistan Pharmaceutical Manufacturers Association (PPMA), said that the industry had a two-month inventory stock that is now almost finished.
After the pharmaceutical industry failed to get any support from the central bank, finance ministry and commercial banks, in opening new letters of credit (LC) for the import of raw material, the officials sought urgent help from parliamentarians to stop the breakup of the supply chain of medicines.
“The pharmaceutical industry is worth $6 billion and its reliance on import is around 93%,” said Malik, adding that several national banks have refused to issue LCs to the industry.