A liquid oral pharmaceutical formulation containing an effective amount of the phenylaminopyrimidine compound NRC-AN-019 including its pharmaceutically acceptable salts and polymorphs (Form I, Form II and Form III) to improve the bioavailability intended for self-emulsification upon its contact with the gastro-intestinal fluid. Also included is a process for the preparation of said oral formulation containing NRC-AN-019 in an effective concentration for enhanced therapy against Chronic Myeloid Leukemia (as a BCR-ABL tyrosine kinase inhibitor) and against other tumors such as head and neck cancer, prostate cancer and the like.