Karachi, April 29, 2024 – Pakistan economy suffered a substantial loss of approximately Rs 800 billion last year due to violations of intellectual property rights (IPR), according to a recent survey conducted by the Overseas Investors Chamber of Commerce and Industry (OICCI).
The report highlights a critical area of concern for the country, impacting not only the national exchequer but also diminishing foreign direct investment (FDI) appeal.
M Abdul Aleem, Chief Executive and Secretary General of OICCI, revealed these figures during the launch of the second edition of the OICCI IPR Manual titled ‘Evolution of Intellectual Property Rights in Pakistan: OICCI Perspective (Edition 2).’ He emphasized that the pervasive IPR infringements accounted for a 20 percent turnover loss for companies in the nation, underscoring the urgent need for strengthened IPR enforcement.
The event also featured remarks from Farukh Amil, Chairman of the Intellectual Property Organization of Pakistan (IPOP), who stressed the importance of intellectual property as a cornerstone for development and empowerment. Amil advocated for increased IP awareness starting from the educational level to align Pakistan’s youth with global standards and opportunities.
The newly launched IPR manual aims to deepen the understanding of Pakistan’s IPR laws among investors, innovators, legal students, and practitioners. It provides valuable guidelines and insights into fostering a culture of innovation and securing intellectual property rights effectively.
Highlighting consumer concerns, Usman Javed Altaf, Group Director (Legal & Intellectual Property) at Martin Dow, pointed out the detrimental impact of IPR violations on consumer safety. He noted that counterfeit and substandard products not only endanger health but also deceive consumers financially. Altaf called for stronger collaboration between IPOP and law enforcement agencies to enhance the enforcement of intellectual property laws.
The OICCI members underscored that while Pakistan has a comprehensive legislative framework for IPR, the enforcement mechanisms remain lax, calling for more rigorous actions from IPOP and other relevant authorities. Proposals include speeding up court processes, imposing sterner penalties for violators, improving the training of law enforcement and judicial entities, and using media effectively to educate the public about the importance of IPR.
Aman Ghanchi, Executive Director Legal and Company Secretary at Unilever Pakistan, echoed the need for media utilization to boost public awareness, aiming to protect both consumers and governmental revenue streams. “Effective use of media is crucial to raise mass awareness and protect both customer interests and government revenue streams,” Ghanchi stated.
The business community, particularly innovators and foreign investors, regards an effective IPR regime as essential for attracting FDI and promoting research and innovation within the local economy. OICCI has actively engaged with government officials, ministries, academia, and media to promote an IPR-friendly environment in Pakistan and has been at the forefront of advocating for the protection and stringent enforcement of IPR.
The 2023-2024 edition of the OICCI IPR Manual introduces new chapters on Plant Breeders Rights and Geographical Indications and updates existing chapters on Trademarks, Patents, Copyrights, Designs, and Enforcement of IPR to reflect recent developments. This publication is a testament to OICCI’s ongoing commitment to strengthening IPR awareness and enforcement in Pakistan.
