Herbal medicine sector: There’s a USD200m annual loss due to imported raw materials: PAAM
Wire desk byline Sourced from Xinhua, Dawn, Arab News, Anadolu and Minute Mirror. Translated and abridged by the GSRRA Desk.
The Pakistan Association of Alternative Medicine (PAAM) has highlighted a critical economic drain in the country’s herbal medicine sector, estimating an annual loss of USD200 million due to a heavy reliance on imported raw materials.
According to PAAM’s latest data, Pakistan’s herbal industry currently holds less than a 0.5pc share in the global market, which has surpassed USD200 billion.
Despite the country being home to over 6,000 types of medicinal herbs, the industry remains dependent on imports, initially from India and now primarily from China, while a lack of institutional support, timely harvesting, and proper processing facilities leads to the wastage of raw material worth USD100 million annually.
In contrast, India’s focused efforts through the ‘AYUSH’ ministry, established in 2014, have helped boost their herbal exports to USD15 billion.
PAAM President Kashif Aslam Malik termed the current export model based on processing imported Chinese raw materials—as ‘artificial growth’, emphasizing that true economic sustainability will only be achieved when Pakistan utilizes its own land to cultivate and process herbs, branding them as ‘Made in Pakistan’ using modern technology.
Reference Link:- https://www.brecorder.com/news/40423354
Zamir Ahmed Awan is the founder and Chair of the Global Silk Route Research Alliance, a think tank in Islamabad. He studied engineering at Shanghai University in the 1980s, and years later he went back to China as Pakistan's science counsellor in Beijing, from 2010 until 2016, working on science and higher education cooperation between the two countries.…
