Monday, 26 June 2017

Move to grow pharmaceutical industries prudent

ONE issue that has played out in the country’s quest to industrialisation and adding value to our raw materials has been the need to put the private sector as a major driver of that agenda.

Indeed, the New Patriotic Party has not shied away from its bias towards the private sector and it, therefore, does not come as any surprise that the current administration keeps trumpeting its resolve to create the enabling environment for the private sector to thrive.
It has been argued that if government is to achieve its ambitious goal of creating jobs for the teaming unemployed youth in this country, the private sector would have to be at its best bet.
It is when the private sector succeeds that they would be in the position play that pivotal role in delivering the jobs. The manufacturing sector in the mix of things should be the arrow head in this transformation agenda and that is why The Finder welcomes any move to prioritise and grow that sector.
In furtherance of this agenda, government has banned the importation of 49 various medicines into the country to create an avenue for the local manufacturing companies to produce them.
When fully implemented, the ban should make it possible for the local pharmaceutical companies to produce some class of drugs that are otherwise imported into the country.
According to Pharmaceutical Manufacturers Association of Ghana (PMAG), the banning of such medicines would help to grow the industry and provide employment to thousands of Ghanaian youth.
Although Ghana’s pharmaceutical industry holds great potentials to offer thousands of jobs, is itconfronted with a myriad of challenges ranging from high taxes, competition from imported products that often crowd them out of the market.
Even in this challenging environment, the pharmaceutical industry has proved to be resilient, producing quality drugs for the local and extended markets.
The progress made by some of the local industries in the manufacture of anti-retroviral drugs for the local and West African sub-region, in particular, is worth mentioning. Given the needed push, the industry should grow to play a pivotal role in the country’s developmental agenda.
We find everything right about the conscious effort of government to grow the local industries. Certainly, that is the way to go and we expect the local companies to make most of the opportunity to change the fortunes of this country.

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