Pakistan: Drug companies head for shutdown amid faltering economy

A pharmaceutical crisis in Pakistan is heating up amid a delay in releasing crucial bailout funds from the International Monetary Fund (IMF) to the tune of $1.1 billion (€1.03 billion).

Medicine production in the South Asian nation has plunged by 21.5% in recent months — mainly due to the prolonged refusal of commercial banks to facilitate the import of raw materials.

Syed Farooq Bukhari, chairman of the Pakistan Pharmaceutical Manufacturers Association, told DW that the banks resumed…