Reduction in Sales Tax for Pharma Sector to Make Medicines Cheaper: RCCI President

Rawalpindi Chamber of Commerce and Industry (RCCI) President Nadeem Rauf has said that the abolition of the 17 percent sales tax on pharmaceuticals will not only make medicines cheaper but will also alleviate the shortage of capital for pharma-related companies to manufacture medicines.

The RCCI president said that due to the imposition of a 17 percent sales tax on pharmaceuticals, the production of medicines had decreased.

Rauf maintained that RCCI had also presented its recommendations to the government on the removal of 17 percent sales tax at the All Pakistan Chambers Conference held in January earlier this year.

He said that the sales tax imposed on raw materials had multiplied the prices of medicines. He hoped that the reduction in sales tax would make medicines cheaper and more easily available.