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Lahore: JUNE 28 – President, Pakistan Businesses Forum (PBF) Mian Usman Zulfiqar has demanded that Pharmaceutical sector should be regulated by the government in a proper manner so that public can get competitive prices of medicines especially in ongoing pandemic.

Pakistan, with a population of 22 crore, does not have a single pharmaceutical plant that complies with the standards prescribed by US Food and Drug Administration (FDA) while in India more than 200 plants were approved and even in Bangladesh they have around 8 approved plants too.

Usman Zulfiqar also said it’s unfortunate local pharmaceutical companies failed to cater the needs of the masses, we have seen even in the ongoing pandemic the normal surgical mask prices gone beyond its range including N95 too.

The oxygenator which was available in market before COVID-19 at the rate of around Rs 3000 now its available in the black around Rs 20,000.PBF laminated that Drug Regulatory Authority of Pakistan (DRAP) are playing in the hands of the pharma companies; “in this regard the observation of the Supreme Court that the pharmaceutical sector was a huge mafia in Pakistan was absolutely right”.

He said Pakistan stood as novel example where mostly local industry didn’t cater the needs of the common man; pharmaceuticals and automobiles sectors are one of them, but their annual profits are at glance.He said both the pharmaceutical companies and buyers are in a state of uncertainty. He said pharmaceutical companies send abroad all profits in the name of buying raw materials.Similarly these companies spend so little on research and development, regardless Pakistan is an emerging market and pharmaceuticals has witnessed double digit growth for the past few years; he added.He also urged government may revisit on the recent hike of pertroleium prices, the Brent was not at that level where you may charge Rs 100 per litre from the common man. There is hike of only 17 percent in brent rate but here we have increased Rs 25 per litre which was too much. He stated through this hike oil marketing companies may get a benefit of around Rs 300 billion.

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Rawalpindi: JUNE 28 – The Rawalpindi Chamber of Commerce and Industry (RCCI) organized a business conference titled “ASPIRE” yesterday. Addressing the virtual session of the ASPIRE Business Conference, Secretary IT Shoaib Ahmed Siddiqui  said ministry’s first priority is to reach out to areas where 3G and 4G mobile networks are not available in the current Covid-19 situation.

The doors of our ministry are open. Telecommunication connections are also being extended to remote areas of Balochistan, GB and AJK through the Universal Support Fund. IT and telecom charges are being reduced, he added. He lauded the role of RCCI for hosting of this conference and termed it an excellent step.

In a video message, Governor Punjab Chaudhary Muhammad Sarwar also applauded the efforts of RCCI for promoting e-commerce and assured full support of his office.

Saboor Malik, President, RCCI in his welcome address said that e-commerce in Pakistan has a market of over Rs. 50 billion and it is growing rapidly. The IT sector is the only sector that has shown a growth of 20 to 40 percent in the last five years. Telecommunications, mobile apps and e-shops have revolutionized the mode of payments and shopping. He said the main purpose of the conference was to encourage businesses, increase their productivity and profitability while reducing their costs and exploring new opportunities through discussions with leading business professionals.

He said the approval of e-commerce policy framework is a welcome sign and the government should take further steps to promote e-commerce in the country.

Group leader Sohail Altaf said that the digital revolution has now become a reality. The e-commerce and Information Technology should be made part of the syllabus. The participation of more than 400 participants in the conference shows the seriousness of all the members and guests. Businessmen play an important role in the development of the economy, but at no level does an entrepreneur or businessman get any praise or applause. Successful entrepreneurs should also be awarded medals on important national days, he demanded.

Economies around the world have been hit hard by the corona, said Gonzalo Varela, an economist and World Bank economist. It also has repercussions in Pakistan. About 40% of exports have been affected, we have to invest in logistics and skills sector and the most important the private sector should be given support here to meet the growing challenges.

Waleed Mushtaq, CEO/rector Roots School and Colleges said that the education sector has been severely affected by Corona. Promoting education without classroom is no less of a challenge.

Irfan Wahab, CEO of Telenor, said that the travel tourism and hotel industry has been plagued by problems. However, the digital platform has also provided an opportunity to reduce your costs and expenditures. Now we have to take businesses in a new direction.

Wahaj Siraj of NayaTel said that in this difficult situation we have to bring forward the spirit of service. Business needs to be linked to the Service Manifesto, he added.

Daraz MD, Ahsan Sayya said that the online business has seen a 20% growth because the online platform has made shopping easier.

Noman Sikandar Mirza of Food Panda said that the demand for food delivery has increased but the delivery time has been disrupted due to lockdown. In the same way, the closure of hotels and food outlets has provided a limited choice for the customers.

Senior Vice President Nosherwan Khalil  Khan, Vice President Muhammad Hamza Sarosh, Convener Shahriaz Malik, former presidents Zahid Latif Khan, Shahid Saleem and others were also present on the occasion.

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ISLAMABAD, JUNE 28 – Former President ICCI Shahid Rasheed Butt on Sunday said the government has failed to deliver and become a threat for the poor masses as it has lost the confidence of people.

Government has surrendered to different business mafias and connived with the oil mafia to punish the common people through unprecedented oil price hike, he said.

The business community has rejected a sudden and record increase in fuel prices days before the end of the month bypassing OGRA which is unconstitutional, he added.

Shahid Rasheed Butt said that the business community also rejects the clarification given for up to 25 percent hike in the price of petroleum products which will result in another wave of inflation amid increasing prices of essentials.

He noted said that the hike of 27 to 66 percent in the price of fuel will help oil companies earn billions at the cost of masses reeling under economic depression and corona onslaught.

The move that has shocked the entire nation has again highlighted the influence of different business groups in the corridors of power, he added.

The business leader said that petrol price hike has sent a clear message that no meaningful action would be taken against any mafia and that all the tall claims against profiteers were just an eyewash.

Besides the 17 percent GST, the government has almost increased fourfold the rate of petroleum levy on HSD and petrol to Rs30 per litre from Rs8 per litre in January last year to extract as much resources out of pockets of masses as possible.

He said that the rewarding oil mafia which is behind artificial POL crisis in the country for the last 27 days will also embolden other mafias to milk masses as no action has been taken against sugar, IPP, wheat, pharma, or any other mafia.

Now the oil mafia will move to get the prices of petroleum products deregulated so that they can hurt the masses at will for-profit, he said, adding that it seems that certain elements in the government are also becoming a threat to the people.

Masses are already tired of the economic situation, virus and the so-called change, therefore, they should not be burdened more but given some relief, he demanded.

The economy has also been affected by the coronavirus since March 2020 but it was in decline since 2018.