Parliamentary panel recommends categorising pharma as ‘strategic sector’

A parliamentary panel has recommended that the pharma industry should be categorised as a “strategic sector” and called for necessary follow-up action in this regard.

In its report, tabled in Parliament on the review of loss-making central public sector enterprises, the Committee on Public Undertakings chaired by Meenakshi Lekhi said it was of the strong opinion that pharma sector plays a very important role to keep the nation healthy and strong, and this has been quite apparent during the current pandemic.

“The Committee, therefore, recommend that the pharma sector should be categorised as a ‘strategic sector’ and a necessary follow-up action needs to be taken accordingly,” the report stated.

The panel underlined that pharma PSUs like Hindustan Antibiotics, IDPL, etc. are facing very stiff competition from foreign companies, particularly, the Chinese ones.

“Even the Department of Pharmaceuticals informed the Committee that the reasons for pharma CPSUs going under loss include outdated plant and machinery and obsolete technology” the report stated.