A strategy has been prepared to remove the pharma industry from the clutches of the dollar and imports in Chinese and Turkish currency are recommended instead of dollars.
According to the details, the Drug Regulatory Authority of Pakistan (DRAP) has found a permanent solution to the problems faced by the pharma industry.
Sources have said that a formula has been prepared to get the pharma industry out of the clutches of the dollar, Drap has recommended imports in Chinese, Turkish currency instead of dollars.
Sources said that Drape Authority has recommended opening LCs in Yuan, Liram, Ministry of Health will send Drape recommendations to Ministry of Commerce soon.
Sources have said that the Ministry of Commerce will take the final decision to open LCs in Yuan and Lira. Opening of LCs in Yuan and Lira is a permanent solution to the industry’s problems.
Most of the business of Pakistani pharma industry is from China, Turkey, Taiwan and the pharmaceutical industry imports most of its raw materials from China and Taiwan while medical devices are imported from Europe to Turkey.
According to sources, hundreds of containers of the pharma industry are still stuck at the port, the containers contain raw materials of imported drugs, medical devices.
It should be noted that the pharma industry has threatened to strike due to non-availability of raw materials and is demanding to increase prices when the dollar is expensive.
