OICCI Advocates Stricter IPR Enforcement in Pakistan

Pakistan faced a significant economic setback last year, losing a staggering Rs800 billion due to infringements on intellectual property rights (IPRs). The effective protection of IPRs is crucial for attracting and retaining Foreign Direct Investment (FDI). According to the OICCI IPR Survey 2023, companies reported a total loss of 20% of their turnover, emphasizing the detrimental impact of these violations on the national economy.

At the launch ceremony of the second edition of the IPR Manual 'Evolution of Intellectual Property Rights in Pakistan: OICCI Perspective (Edition 2)', M Abdul Aleem highlighted the urgent need for stricter enforcement of IPR laws. Farukh Amil, Chairman of the Intellectual Property Organization of Pakistan (IPOP), stressed the direct link between intellectual property and development, emphasizing the importance of grassroots awareness from an early age.

The manual aims to provide a comprehensive understanding of IPR laws in Pakistan to facilitate investors and innovators. Usman Javed Altaf from Martin Dow pointed out that these infringements not only harm businesses but also pose risks to consumers by promoting counterfeit products.

Efforts are being made to enhance IPR enforcement, with a focus on engaging law enforcement agencies and imposing harsh penalties on violators. Aman Ghanchi from Unilever Pakistan highlighted the crucial role of media in raising awareness and protecting consumer interests.

The OICCI continues to advocate for a more IPR-friendly environment in Pakistan to attract FDI and promote research and innovation. The updated edition of the OICCI IPR Manual includes new chapters on Plant Breeders Rights and Geographical Indications, reflecting the latest developments in IPR protection.