‘40-50 percent of drugs in Pakistan are fake’April 26th, 2008 - 2:21 pm ICT by admin
Islamabad, April 26 (IANS) Pakistan has become a lucrative target of counterfeit drug sellers, according to media reports Saturday. About 40 to 50 percent of medicines being sold in Pakistan are counterfeit, said Dawn newspaper quoting experts.
The problem has become huge and might cause prolonged illness or even death of patients, according to the experts.
The experts, at a meeting held here Friday in connection with the global Intellectual Property Rights Day, said the global trade of counterfeit drugs had crossed $35 billion.
The experts also spoke on the issue of software piracy and said its incidence in Pakistan was to the extent of 90 percent.
If the illegal use of software dropped by 20 percent, Pakistan could attract 100,000 high-tech, high-paying jobs and millions of dollars in foreign investment, they said.
Nearly 65 percent of the goods being sold in the country were counterfeit, said Saleem Farruk, head of the research team of the Centre for Research and Security Studies, which had organised the event.
He said more than half of the cigarettes sold in Pakistan were counterfeits, causing more that Rs.15 billion annual revenue loss to the government.
The experts stressed that Pakistan has to respect intellectual property rights if it wants to attract foreign investment.
- Unbalanced recovery better than balanced recession: China - Nov 21, 2011
- Counterfeit, fake and smuggled goods impacting 'Brand India' (Comment) - Jul 08, 2012
- US lists Delhi's Nehru Place among 30 'notorious markets' - Dec 21, 2011
- Wikipedia, Google join anti-piracy bill protest (Lead) - Jan 18, 2012
- Reducing software piracy can inject $142 bn into economy - Sep 16, 2010
- Russia to fight faking of its weapons abroad - Feb 27, 2012
- 18,500 bottles of fake vodka destroyed in China - Apr 24, 2012
- Chinese search giant Baidu in spot over copyright theft - Mar 16, 2011
- India-EU trade deal threatens access to life saving drugs - Mar 23, 2011
- China's smartphone firms warned of patent disputes - Apr 15, 2012
- India's trade barriers hampering economic ties: EU - Mar 17, 2011
- FDI in Latin America hits record high - May 04, 2012
- US envoy asks Pakistan to check corruption - Dec 07, 2010
- Karnataka to have aerospace policy to woo investments - Aug 24, 2012
- Fake currency from Pakistan causing a headache to India: Report - Feb 08, 2011
Tags: cigarettes, counterfeit drugs, dawn, drug sellers, extent, foreign investment, global intellectual property, global trade, high paying jobs, intellectual property rights, medicines, pakistan, security studies, software piracy, target