Pakistan is considering the establishment of a "Pharma Economic Zone" with the assistance of the China-Pakistan Economic Corridor (CPEC) and SIFC. This initiative aims to promote medical tourism and attract investment in the pharmaceutical industry.
The government intends to create a medical health city through this project, providing comprehensive healthcare facilities. Pakistan is already working on special economic zones under CPEC, with one zone potentially dedicated to the pharmaceutical industry.
The primary objectives of this initiative are to encourage foreign investment, including from China, in the pharmaceutical sector and to promote medical tourism. The project is expected to facilitate Chinese investment in the pharma zone, potentially improving Pakistan's healthcare sector.
To attract investment, the government is also considering deregulating the prices of medical products. The Ministry of Health has been instructed to develop a workable strategy for price determination in collaboration with Pakistan's Drug Regulatory Authority and the Ministry of Industry.
The Health Ministry has been urged to prepare an immediate action plan to finalize the project after conducting a pre-feasibility study. The establishment of a 'Pharma Zone' with SIFC's support is viewed as a positive step towards strengthening Pakistan's economic structure in the international market.
