2023, 800 billion loss to exchequer due to IPR violations

Karachi: Effective protection of intellectual property rights is essential to attract and retain foreign direct investment in the country.

According to OICCI’s IPR Survey 2023, the national exchequer lost Rs 800 billion due to IPR violations, as well as the total turnover to companies due to IPR violations. OICCI’s Chief Executive and Secretary General Muhammad Abdul Aleem said in OICCI’s IPR manual ‘Evolution of Intellectual Property Rights in Pakistan: OICCI’s Position’. While addressing the introductory ceremony of the second edition of

Speaking at the event, Intellectual Property Organization Pakistan Chairman Farrukh Amal said that intellectual property is directly linked to development in many ways and is an important tool for empowerment.

Martin Dow Group Director Legal and Intellectual Property Usman Javed Altaf said that due to IPR violations consumers are also suffering and consumers are unknowingly buying fake or substandard products.

OICCI members say that the country has a comprehensive IPR law, it just needs more enforcement and Intellectual Property Organization Pakistan can play a key role in ensuring that the law is enforced. Ensure enforcement of IPR.

Unilever Pakistan Executive Director Legal and Company Secretary Aman Ghanchi said that effective use of media is essential for effective implementation of IPR to create mass awareness and protect consumer interests and government revenue.