Minister hails successful conduct of investment conference, expects around $850 million agreements

ISLAMABAD, Jul 18 (APP): Federal Minister for National Health Services, Regulations and Coordination Syed Mustafa Kamal on Saturday lauded the success of “Pakistan–China Pharmaceutical & Healthcare B2B Investment Conference 2026”, expecting around $850 million in agreements, including 16 agreements and 80 Memorandum of Understanding (MoUs) in the conference.

While talking to media on second day of the conference, he expressed confidence to revolutionize Pakistan pharma & health sector by million dollars’ investment that would not only promote local production but also create new job opportunities.

He attributed the success of conference to the visionary and patriotic leadership of Prime Minister Shehbaz Sharif, calling the effects of the conference beneficial for future generations.

“Everything was made possible due to the leadership skills and vision of Shehbaz Sharif. Now a new era has begun between Pakistan and China; its results will go down to generations,” he added.

He said the conference focused on increasing the local production, including vaccines, preparation of raw materials and medical devices that would help to reduce the import bill and enhance the foreign reserves.

At present, Pakistan imports 90 percent of the raw materials for medicines, he said.

“The cost of vaccine imports could reach $1.2 billion by 2030,” he said, adding, “to remove Pakistan from import dependence, the production of local vaccine is imperative.”

Pakistan’s first vaccine policy has been prepared and approved by the cabinet, which would pave the way to produce the vaccine locally, he said, adding that local production of raw materials will reduce the prices of medicines.

Regarding research and development in the pharma sector, he said, clinical research in the pharma sector Trials and vocational training agreements have also been signed, helping the sector to boost research and open new avenues in developing techniques, procedures and medicines to facilitate the public in controlling diseases.

Several reforms have been initiated in the health sector, he said, underscoring that 80 percent operations of the Drug Regulatory Authority of Pakistan (DRAP) made digital, enabling users to obtain their drug licenses by applying online from home.

“The license is issued via email within 20 days of registration on the DRAP portal,” he said.

He expressed confidence that Pakistan is gaining global recognition in pharma regulation, adding that Pakistan exports medicines to 52 countries at WHO Maturity Level 2 (ML2).

He maintained that DRAP would achieve WHO Maturity Level 3 (ML3) accreditation by April 2027, after which it would open the way for exports to 100 more countries.

Signing of the agreements in the pharma sector is proof of Pakistan’s business potential, highlighted by the participation of a large number of Chinese companies, the minister said.

While concluding, he expressed satisfaction over the achievement of goals in the conference and urged stakeholders to capitalise on new investment opportunities, so that the benefits of new investments and business agreements would reach the people.