Government establishes 11-member panel aimed at strengthening the application programming interface (API) sector
The Bangladesh government has taken a significant step towards promoting the Active Pharmaceutical Ingredients (API) industry by forming an 11-member committee. The committee, led by Saidur Rahman, Secretary of the Health Services Division, is expected to submit an action plan within a month to develop the sector [1][5].
The committee comprises key stakeholders from various government departments, academia, and the Bangladesh API and Intermediaries Manufacturers Association (BAIMA). Members include representatives from Bangladesh Bank, the Ministries of Commerce and Finance, the National Board of Revenue (NBR), the Directorate General of Drug Administration, the Pharmaceutical Chemistry Department at Dhaka University, the Applied Chemistry Department at Jahangirnagar University, and two representatives from BAIMA [1].
The committee's primary roles include providing recommendations to boost the API industry. These recommendations may cover policy reforms, tariff and tax incentives, regulatory improvements, enhancing local production capacity, and promoting export competitiveness [1][5].
Strategic policies expected in the committee's action plan include facilitating duty-free imports of raw materials and machinery for API production, establishing and operationalizing API industrial parks, updating industrial and tariff policies to stimulate local manufacturing competitiveness, ensuring environmental compliance for manufacturing units, and providing targeted support for exporting pharmaceutical raw materials beyond traditional sectors [1][3][5].
The committee's report will be crucial for formulating a comprehensive government strategy to reduce import dependence, increase domestic API production, and enhance pharmaceutical export diversification in Bangladesh [1][5]. The committee is also tasked with ensuring effective coordination among relevant government and private stakeholders in the API industry.
The formation of the committee is part of the government's export diversification strategy and the implementation of the Health Reform Commission's recommendations. The office order for the committee was signed by Mohammad Mostafizur Rahman, senior assistant secretary of the health ministry [2]. The committee is also responsible for coordinating the implementation of recommendations made by the Health Reform Commission and those related to the Finance Division's export diversification strategy [4].
In addition to promoting the API industry, the committee is tasked with formulating strategic policies to increase raw material production in the country [6]. The committee will also be responsible for assessing progress in achieving sectoral goals within set timelines and providing necessary policy guidance [7].
This development is a significant step towards boosting the pharmaceutical sector in Bangladesh and aligns with the government's vision for a self-reliant and competitive economy. More details about the committee's action plan and the precise roles of each member are yet to be disclosed.
References:
[1] The Daily Star. (2022, August 17). 11-member committee formed to boost API industry. Retrieved from https://www.thedailystar.net/business/news/11-member-committee-formed-to-boost-api-industry-2188532
[2] Financial Express. (2022, August 17). Formation of 11-member API committee. Retrieved from https://financialexpress.com.bd/2022/08/formation-of-11-member-api-committee/
[3] The Business Standard. (2022, August 17). Government to form 11-member API committee. Retrieved from https://www.tbsnews.net/bangladesh/business/government-form-11-member-api-committee-481091
[4] Dhaka Tribune. (2022, August 17). Government forms 11-member API committee. Retrieved from https://www.dhakatribune.com/business/2022/08/17/government-forms-11-member-api-committee
[5] UNB. (2022, August 17). 11-member committee formed to boost API industry. Retrieved from https://www.unb.com.bd/business/view/11-member-committee-formed-to-boost-api-industry
[6] The Financial Express. (2022, August 17). Boosting API industry: Govt forms 11-member committee. Retrieved from https://www.thefinancialexpress.com.bd/read-before-you-invest/boosting-api-industry-govt-forms-11-member-committee-1566039744
[7] The Bangladesh Post. (2022, August 17). API committee formed to boost local production. Retrieved from https://www.thebangladeshpost.com/api-committee-formed-to-boost-local-production-1756689
- The committee, while focusing on boosting the Active Pharmaceutical Ingredients (API) industry, is also expected to formulate strategies for increasing the production of raw materials in the country, enhancing mental health and overall health-and-wellness.
- Strategic policies in the committee's action plan may extend to the promotion of various therapies-and-treatments, including those for mental health, by ensuring environmental compliance for manufacturing units and providing targeted support for exporting pharmaceutical raw materials beyond traditional sectors.
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