Piracy Costs Pakistan Economy £2.2 Billion

A UK Government report has revealed that copyright piracy and trademark counterfeiting drained Pakistan’s economy by nearly £2.2 billion during 2023.

The study, developed by the UK Intellectual Property Office and Department for Business and Trade, highlights weak intellectual property enforcement as a critical economic challenge.

According to the report, piracy and counterfeiting are undermining legitimate businesses, discouraging innovation, and causing severe revenue losses that affect overall economic stability in the country.

The Overseas Investors Chamber of Commerce and Industry welcomed the findings, warning that poor IP protections continue to damage investor confidence and market growth.

OICCI Secretary General Abdul Aleem stressed that stronger intellectual property enforcement is essential for economic development, job creation, and building trust within the investor community.

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British Deputy High Commissioner in Karachi Lance Domm echoed these concerns, saying effective IP enforcement benefits both investors and creators by fostering sustainable business environments.

The report recommends a coordinated national strategy, enhanced technical capacity for enforcement agencies, and stricter legal measures to dismantle large scale counterfeiting networks.

It also calls for public awareness campaigns to change consumer behaviour, stressing that enforcement must be supported by education of retailers and law enforcement bodies.

Stakeholders believe that legal reforms and institutional strengthening will play a decisive role in shaping Pakistan’s ability to attract investment and protect innovators.