On Thursday, the federal government approved a proposal for Contract manufacturing agreements for the pharmaceutical industry.

The Prime Minister’s Trade Advisor, Abdul Razak Dawood, announced this on his Twitter account, adding, “This opens up new export prospects and joint venture opportunities for our pharmaceutical industry.”

The Advisor said contract manufacturing will allow small and medium-sized enterprises to start selling their products without the large capital investment required to build and operate the plant. “It also creates new job opportunities,” he said.

Earlier, speaking at the First Pharmaceutical Export and Awards Meeting (PESA) 2021, Dawood stated that the government has set an export target of $ 38 billion for the current fiscal year after consulting with relevant stakeholders.

He added: “The government is trying to raise exports of goods and services to $ 40 billion this year.”

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