Kathmandu, January 18:

Representatives of the pharmaceutical companies as well as business entrepreneurs in the drug business have stressed to face the challenges that Nepal is facing after the entry into the WTO regime and turn it into a good opportunity.

They were addressing an interaction programme organised in the capital yesterday by South Asia Watch on Trade, Economic And Environment, and Association of Pharmaceutical Producers of Nepal (APON). They also said that it is more advantageous for Nepal to produce quality medicines within the country itself.

At the programme, vice-chairman of the National Planning Commission (NPC), Dr Shankar Sharma called on the pharmaceutical producers to pay heed to the opportunity offered by the WTO, while internalising the crisis of Nepal following the entry into the global trade regime.

Dr Sharma observed that Nepali pharmaceutical companies can easily be competitive in the domestic market, if they are developed as export-oriented industries.

A research report was also presented by Ajay Pradhananga on behalf of Matrix Services, on the occasion. The report mentioned that the business transactions of drugs in domestic market stand at Rs 8649 million, which is increasing at the rate of 10 per cent annually. While only 30 per cent of the demand is met by domestic products, rest of the 70 per cent is imported into the country.

Commenting on the report, director at the Department of Drug Administration, Bhupendra Bahadur Thapa complained that low priority is given to planning side of the department. He stressed on the need for a new policy for the domestic pharmaceutical industry, amendments in the act as well as the need for strengthening the department.

Speaking on the occasion, general secretary of the APON, Umesh Lal Sherstha noted that the industry has made a remarkable achievement in the past 20 years which has provided employment to 5,000 people in the country. The programme was presided over by Pradeep Man Vaidya, the chairman of APON.