There are multiple problems faced by exporters in Pakistan. These problems are major because of higher competition in the international market and also because of imports vs exports scenario in Pakistan. Fewer imports mean less production which ultimately leads to less exports volume.
Exporters face a number of challenges in the global marketplace. Some of the most significant challenges include:
Competition:
Exporters face intense competition from both domestic and foreign competitors. In order to be successful, exporters must be able to offer high-quality products at competitive prices and be able to differentiate their products from those of their competitors.
Tariffs and trade barriers:
Pharmaceutical exporters in Pakistan must navigate a complex web of tariffs and trade barriers in order to access foreign markets. These can include tariffs on imported goods, import quotas, and other regulations that make it difficult for exporters to enter new markets.
Currency fluctuations
Top pharmaceutical companies in Pakistan are often exposed to currency fluctuations, which can have a significant impact on their bottom line. A strong domestic currency can make exports more expensive, while a weaker currency can make imports cheaper.
Rising utilities cost & shortages
Rising utilities costs and shortages in Pakistan have made it difficult for pharmaceutical exporters in Pakistan to produce and transport their products efficiently. The country has experienced frequent electricity shortages in recent years, causing frequent power cuts and hindering the smooth functioning of medicine production businesses. This results in increased production costs and decreased competitiveness in the global market.
Additionally, the rising cost of utilities, such as electricity and raw products for medicines, has added to the financial burden of medicine exporters, making it even more challenging for them to remain profitable. To address these challenges, the government has taken steps to improve the energy sector, but the effects of these efforts have yet to be fully felt. These difficulties pose a significant obstacle to the growth of Pakistan’s export industry and highlight the need for further investment and improvement in the country’s energy infrastructure
Logistics and transportation
Exporters must navigate the logistics of getting their products to foreign markets, which can be a complex and costly process. This includes everything from packaging and labeling to customs clearance and freight forwarding. Exporters must ensure that their logistics should be cost effective and able to meet deadlines.
Cultural and language barriers:
Pharmaceutical exporters in Pakistan must also be aware of cultural, language & regulatory barriers that can make it difficult to communicate and do business with foreign customers. This can include everything from understanding local business practices & regulatory requirements to being able to effectively satisfy the customers.
Technological barriers
Technology barriers pose a significant challenge for exporters in Pakistan who are trying to export their products globally. Many companies in the country lack access to modern technology and equipment, which limits their ability to produce goods that meet international standards and requirements. Additionally, limited investment in technology and research and development has resulted in a lack of innovation and competitiveness in the export sector.
Inadequate infrastructure and a lack of internet access in rural areas have also limited the ability of medicine companies in Pakistan to take advantage of e-commerce and digital marketing opportunities. This may limit their exposure to international markets and reduce their ability to reach customers globally.
Skilled & Experienced Technical Staff
Skilled and experienced technical staff is a critical factor for exporters in Pakistan who face difficulties in exporting their products. A lack of qualified and trained personnel can limit a company’s ability to produce goods that meet international standards and requirements. This can result in delays and increased production costs, making it difficult for companies to remain competitive in the global market.
Additionally, the shortage of skilled and experienced technical staff can also limit the ability of companies to adopt and implement new technologies and processes, reducing their competitiveness in the global market. This can be particularly challenging for small and medium-sized enterprises that may need more resources to attract and retain top talent.
Political instability:
Exporters must also be aware of political instability in the countries which they are exporting to. This can include everything from civil unrest to changes in government policies that can affect trade, tariff, logistics, etc.
Regulations and compliance:
Exporters must also comply with a wide range of regulations and laws in order to export their products. This can include everything from safety and environmental regulations to intellectual property laws.
Lack of access to finance:
Many medicine companies may lack access to finance, which can make it difficult for them to invest in new markets, expand their operations, or pay for logistics and transportation costs.
Lack of market information:
Pharmaceutical exporters in Pakistan may lack information about potential markets, consumer preferences, and competition, regulatory measures, etc which can make it difficult to make informed decisions about where to export their products.
Cybersecurity threats:
With the increasing use of digital platforms and technology in global trade, exporters also face risks related to cyber security threats, such as hacking, data breaches, and fraud.
Despite these challenges, many companies are able to export their products and services to foreign markets successfully. By understanding these challenges and taking steps to address them, exporters can increase their chances of success in the global marketplace.
How the ban on imports disturbs medical exports in Pakistan
Like many other developing countries, Pakistan has a significant dependence on imports to meet the domestic demand for goods and services. A ban on imports of medical products can have a significant impact on the country’s best medicine companies, trade, and the overall well-being of its citizens.
Pakistan pharmaceutical industry
Another impact of a ban on medical imports would be on the country’s trade. Pakistan has a trade deficit, meaning it imports more goods than it exports. A ban on imports can lead to a reduction in the trade deficit, but it can also lead to a decrease in exports. A decrease in exports can lead to a decrease in foreign currency earnings, which can negatively impact the country’s ability to pay for imports and service its foreign debt. This can heavily affect the exports of the Pakistan pharmaceutical industry.
Furthermore, a ban on imports can have a significant impact on the availability and affordability of essential goods, such as medicine. A ban on imports of medicines can also have significant negative effects on the availability and affordability of essential medicines for the country. It could lead to shortages of certain medicines, making them more expensive and less accessible. Additionally, a ban on imports may also restrict access to new and innovative medicines, as many countries rely on imports to access the latest treatments and technologies.
As a highly responsive, dedicated, and committed team, Don Valley pharma is setting new goals for personal growth every year. Don Valley is building its 25-year legacy of undeniable industrial-level leadership by providing cost-effective treatment for more than 150 million patients all over the country. Don Valley is not only the best pharmaceutical company in Lahore but also among the few leading progressive companies of the entire country. With more than 123 distributors working with Don Valley globally, we make sure everyone from every corner of the country & globe has easy access to our products.
Don Valley takes the charge of being the best medicine company in Pakistan and plays a major role besides all hurdles in providing medicines for people belonging to every age group. No matter if you have infants or adults in your house suffering from minor ailments to difficult infections such as Pneumonia, typhoid, or cardiovascular problems and or others, our quality-conscious medicines are prepared accordingly for different patients. We make sure that the best quality components are used for the production of medicines for everyone in both pharmaceutical and nutraceutical products.
Apart from professional responsibilities Don Valley is contributing a lot towards social responsibilities.
