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Islamabad, Oct 23: Pakistan has capability to reduce $2bn health care imports within five years, says TDAP CEO Zubair motiwala Imported products such as medical equipment and pharmaceuticals have been the main mainstay of Pakistan’s health care sector, from which the country has incurred a high importation cost.
The chief executive identified that Pakistan could slash its import bill in the health care sector by $2 billion in the next 5 years. This optimism is informed by policy review on trade related issues, local content development, and emphasis on African traditional medicine.
The Growing Health Care Import Bill
Several years ago, many hospitals and other healthcare facilities of Pakistan were known for high dependence on imported equipment and medications as well as many other medical products.
This dependence has led to the increase of a healthcare import bill to over $2 billion per annum.
As awareness of the need for better health care services and up standard physical structures in health facilities, this number has gone up.
This issue has become a major concern of the Trade Development Authority of Pakistan (TDAP) that work towards the enhancement of local production and investment in health care products and services.
Local Production and Investment
TDAP CEO Zubair motiwala has particularly emphasized the enhancement of the local industries to help the country support its health facilities. Promoting local production of medical devices, pharmaceuticals and hospital equipment etc. may easily reduce the import bill substantially.
At the same time, the country could reduce its $2 billion health care sector import bill if it provides support to the manufacturers within the country which would help the country not only reduce its imports but also provide people jobs and boost the economy.
To this end, there is need to pursue government policies that promote local production. Foreign investments to the health care industry are also being invited and Pakistan is offering free incentives to multinationals to open source in the country.
In the case of a local pharmaceutical industry, the country can increase strength localization of supply which will mean that it is not sensitive to disruptions that may be caused by foreign suppliers.
Promoting Indigenous Medical Technologies
Besides encouraging the growth of the production base, Zubair motiwala is also concentrating on promoting indigenous medical technologies. Pakistan should be able to reduce its $2 billion health care sector import figure by pushing for innovation and development (R & D) in medical industry.
The problem can be solved by tight cooperation with universities, research institutions, and local enterprises in developing innovative practices and producing the necessary medical technologies to substitute imports.
To this end, TDAP Zubair motiwala intends to launch drives aimed at helping start-ups involved in medical innovation procure essential tools to support the production of first-rate products.
These measures, if effectively managed, could drastically decrease reliance on importing the related technologies and place Pakistan in the context of a competitive actor in the international system of healthcare services.
The Road Ahead
Despite the strategic plan that has being set to reduce Pakistan’s healthcare import bill, the TDAP CEO Zubair motiwala believes that this goal could be realized within the end of the five-year period. Fundamental to this kind of success will be continued actions by both the government and business communities.
Measures intended to support the growth of domestic industries, the improvement of research potential, and the encouragement of foreign investments are already under way.
Pakistan could cut down $2 billion health care sector importation bill by emphasizing long-term causalities that foster health sector development and import substitution.
If these strategies are adopted properly then the country could not only decrease the import bill but also become a healthcare destination of the region.
