The coalition government unveiled the budget for the fiscal year 2024-25 today, introducing significant changes that could impact the cost of healthcare in Pakistan. One of the most notable proposals is the imposition of an 18% sales tax on drugs, including medicaments and Active Pharmaceutical Ingredients (APIs).
The proposed tax, if implemented, is expected to increase the prices of both over-the-counter and prescription medications, potentially affecting millions of Pakistanis who rely on these essential products for their health and well-being. The move has sparked immediate concern among healthcare professionals, pharmaceutical companies, and patients alike, who fear the higher costs could make necessary treatments unaffordable for many.
Pharmaceutical companies are also wary of the proposed tax. Many argue that the increased costs could disrupt the supply chain and hinder the availability of essential drugs.
The next steps involve potential amendments to the budget before it is finalized. Stakeholders from the healthcare and pharmaceutical sectors are expected to lobby intensively against the proposed tax.
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