The entire economy is collapsing and it is increasing becoming impossible to do business in Pakistan. For the pharma sector, the government is acting like an ostrich and refuses to recognise the costing issues that the pharmaceutical industry is facing. I foresee a major shortage of life-saving medicines in Pakistan due to this attitude. The government needs to understand that we cannot cost our product at Rs 120 and sell it when the USD/PKR is touching 164. It is simply impossible. If prices of all commodities can rise with a formula than why can't it be the same for the pharma sector? Why can't there be transparency in drugs pricing and why are there 10 different prices for the same medicine? The law states that the originator or multinational brand will sell at 15 percent higher price than the generic then how come in generic one company is given a price of Rs 85 and others are put on hold at Rs 50?

A real crisis is emerging for the pharmaceutical sector in particular and the Pakistan industrial sector in general. I guess every industry will have to go for job cuts now. I have heard reputed companies in Pakistan getting rid of their managerial positions. Someone needs to sit with Prime Minister Imran Khan and actually brief him about the situation. The entire business community is scared and the honest tax payers cannot work now as there is no cash rolling in the market and the entire economy is at a standstill. Give the industrialist some room so that we can do something for the economy. The foes of this government are ensuring that there is always a shortage of USD in the market and with their ill-gotten wealth they are buying up any number of dollars that are available in the market. This is a matter of national interest and our investigation agencies should look into it without any further loss of time.

Whatever the mind of man can conceive and believe, it can achieve.-Napoleon Hill

Copyright Business Recorder, 2019