In a major policy move aimed at strengthening the pharmaceutical sector, authorities have abolished customs duty on more than 100 types of raw materials used in the local manufacturing of medicines, including those used in cancer and other critical disease treatments.
The decision is designed to reduce production costs for local drug manufacturers and improve access to essential medicines.
Officials say the step will support the domestic pharmaceutical industry by easing the import burden on key active pharmaceutical ingredients (APIs) and other essential inputs.
Industry stakeholders have long demanded duty relief, arguing that high import costs were driving up medicine prices and limiting affordability for patients.
With the new exemption in place, manufacturers are expected to increase production efficiency and potentially pass on the cost savings to consumers.