Pharmaceutical manufacturers hailed exemption of anti-cancer drugs from import duty announced by Federal Finance Minister Miftah Ismail in his budget speech on Friday. Former chairman of Pakistan Pharmaceutical Manufacturers' Association (PPMA) Dr Kaiser Waheed termed the federal fiscal budget a popular budget for people of Pakistan.
"Government has slashed duties on import of Hepatitis and Cancer drugs which is a good move," he said. The federal government, under the head of Health Affairs and Services, has allocated Rs 13,897 million in the budget estimates 2018-19,which is higher by 8.2% and 7.4% when compared with budget and revised estimates 2017-18, respectively. The allocation for Hospital Services forms the major component, which is 83.9%.
Chief executive of Efroze Chemical Industries, Muhammad Abdullah Zafar, categorically supported the federal budget 2018-19, saying government has shown positive gesture for the poor masses by waving-off duties on import of Hepatitis and Cancer drugs. "It's a positive budget", he aid.
According to the federal budget, the government has exempted cancer drugs from customs duties at import stage but it only mentioned "Tasigna" alone on which customs duty at the rate of 5% is proposed to be withdrawn.
The government has also proposed that the rate of customs duty at the rate of 11%, on corrective eyesight glasses be reduced to 3%. Duty-free import of machinery and equipment has also been allowed for charitable institutions and hospitals, under the provision of Pakistan Customs Tariff code 9917. According to Miftah Ismail, in view of increasing cases of Hepatitis, the prices of Hepatitis drugs have been brought to the lowest level and its production in the country is encouraged.
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