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Pharma companies plan to halt production over lack of raw materials

Posted On: Feb. 7, 2023 9:57 AM CST

As many as 40 pharmaceutical companies in Pakistan have warned they may have to halt production due to unavailability of raw materials and delays in their cases seeking hardship price increases, Dawn reported. The pharmaceutical industry, which is facing a severe shortage of dollars and difficulties in securing letters of credit, is heavily dependent on import of raw materials with the prices increasing exponentially in the international market since the outbreak of COVID-19 pandemic.