PA session to be convened soon to form new govt: Balighur Rehman

LAHORE   -  Punjab Governor Muhammad Baligh Ur Rehman on Wednesday said that he would summon the Punjab Assembly session upon receiving requisition. He said the session of the Punjab Assem­bly should be held in few days to form new government. Talking to media after inaugurating the two-day Pak Pharma and Healthcare Expo at the Lahore’s Expo Centre, the governor said they are thankful to Allah Almighty for providing them another opportunity to serve the masses. The two-day 16th Pak Pharma & Healthcare Exhibition & Conference (PPE) kicked off with the participation of more than 400 stalls and 100 foreign and local exhibitors. The mega event is being organised by Prime Event Management with the support of the Pakistan Phar­maceutical Manufacturers Association (PPMA). “We have done constitutional work in the previous governments too and we will continue to do it again,” he said. Governor Baligh Ur Rehman said the new government must see the initia­tive of the caretaker government to de­regulate the prices of medicines and that regulation should not be so much tight that the pharmaceutical companies start thinking to leaving the industry. And any regulation should also not be so weak that the companies start exploiting the masses, the governor said, adding pa­tients should not be exploited under any circumstances. He recalled that during the tenure of PML-N govern­ment in 2013-18, the prime minister had rejected such summaries of in­crease in the prices of medicines. The governor lauded the efforts of Prime Event Management and the Pakistan Pharmaceutical Manufacturers Asso­ciation (PPMA) for organising a suc­cessful expo. He was of the view that it’s good that raw materials are being produced in Pakistan too, saying there is still room for technology and exports in the pharma sector. Earlier, the gov­ernor visited various stalls and inter­acted with the representatives of local and foreign companies. PPMA Chair­man Mian Misbah Ur Rehman told me­dia that Pakistan was the only country where the government is still fixing prices of medicines and drugs and now the government’s permission to the pharmaceutical companies to fix prices except life-saving drugs would follow the World Health Organization (WHO) standards. He said that the prices of more than 450 medicines, which do not fall in the ambit of the essential drugs list of the WHO, are being determined by the government bodies. He said the Indian government regulates prices of only 360 medicines. Talking to media, organizer Kamran Abbasi said that the exhibition is exclusively focused on the Pharmaceutical Equipment Manufactur­ers, Laboratory Equipment, Research and Testing Laboratories, Raw and Pack­aging supplier, Pharma Printing, Pharma Chemicals, Lab chemicals and Pharma Instruments, Hospital & Health Equip­ment Manufacturers, Ultra Sound, X-Ray, MRI Machines Cardiac Monitors, Medi­cines manufacture, surgical equipment, Hospital Consumables and accessories.

Meanwhile, Corporate tax reforms are essential to spur Pakistan’s economic potential and innovation, thus improv­ing living standard of the people. Talk­ing to a delegation of industrialists here, Pakistan Furniture Council (PFC) Chief Executive Officer Mian Kashif Ashfaq Wednesday said on Wednesday that new government must prioritize these reforms to pave the way for a prosper­ous future. At present, corporate tax reforms were imperative for economic growth and sustainability in Pakistan, he said and asserted that the current tax structure was burdened with com­plexities coupled with high tax rates and loopholes that deters investment, stifles innovation and hinders jobs creation. “Implementing comprehensive corpo­rate tax reforms is essential to address these issues and propel Pakistan towards prosperity,” he remarked. Reducing cor­porate tax rates would make Pakistan more competitive globally besides at­tracting foreign investment and encour­aging domestic businesses to expand. Lower tax rates would also incentivize entrepreneurship and spur economic activity, ultimately leading to job cre­ation and higher incomes, he said. The PFC chief said that simplifying the tax code and closing loopholes would en­hance transparency and fairness, ensur­ing that all businesses contribute their fair share to the country’s development. This would help broaden the tax base and reduce reliance on borrowing, lead­ing to a more sustainable fiscal position in the long term,he added.

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