The Active Pharmaceu-tical Ingredients (API) industrial park is yet to be completed. Due to the delay of implementing the park, huge money is being spent for importing raw materials of medicines from abroad. The government has taken an initiative to build a special pharmaceutical ingredients industral park in 2008. But it is still on the primary construction stage.
In eight years, the government has completed land acquisition and soil filling work. In recent times, the construction of boundary wall has started. But the drainage, power plants, fire services station and other infrastructure development have yet been completed. The Bangladesh Small and Cottage Industries Corp-oration (BSCIC), the dev-eloper of the park, has recently allotted plots to 27 local pharmaceutical companies at the API Park. The local manufacturers will produce pharmaceutical raw materials here.
An official of BSCIC said the API project could not start within due time for different complications. They have made commitment to allocate plots to the entrepreneurs in 2010. But they could not do it in time as they have failed to acquisition land.
He said the government has extended project time but not increased allocation. Now, prices all construction materials for the project are increasing. For this reason, Tk 5.50 billion will need for the completion the project. But the government has allocated Tk 3.33 billion. SM Shafiuzzaman, Secretary General of Bangladesh Aushad Shilpa Samity (BASS) said the government has already allocated plots to the entrepreneurs who are paying land price. After the payment of full price of the land, the plots owners will build factory.
He also said after the API Industria Park runs, the manufacturing capacity of the local pharmaceuticals will increase. When raw materials will produce locally, the manufacturers can produce new medicine items. The pharmaceutical park will be helpful to save billions of foreign currency.
For developing the API Industrial Park, the government has taken 200 acres of land at Boushia under Gazaria Upazila of Munshiganj. The proposed API Industrial Park Project will accommodate pharmaceutical industries for producing active pharmaceutical ingredients.
Country's pharmaceutical exporters fetched $15.76 million from exports during the July-August of the current fiscal year against the target of $16.37 million. The pharmaceuticals sector shipped products worth $89.17 million in last fiscal year. In the current fiscal year, the country's pharmaceutical sector has set a target to send medicines worht $100 million abroad.
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