27/06/2022
PPMA DELEGATE MEETING WITH
Minister NHS, R&C / Finance Minister / FBR
Regarding 17% Sales Tax on APIs
1. Chairman PPMA Mr. Qazi Muhammad Mansoor Dilawar.
2. Vice Chairman PPMA Mr. Atif Iqbal.
3. Mr. Usman Shaukat member CEC PPMA
4. Mr. Khalid Misbah Ur Rehman member CEC PPMA.
5. Mr. Hamid Raza Former Chairman PPMA.
Bridging the series of meetings with the same forum and the context, Chairman PPMA urges again for the waiver of Sales Tax on APIs as well as quick reimbursement of deducted Sales Tax on Purchase.
Minister NHS, Mr. Abdul Qadir Patel & Finance Minister finally announces the waiver of Sales Tax as per the following:
• 17% Sales Tax has been reduced by 1% ONLY on APIs.
• Non pharma raw material shall remain the same, 17% tax with refunds on consumption base.
Previous Govt. imposed 17% Sales Tax on APIs resulting in the blockage of running capital of Pharma Manufacturers & ultimately shortages of essential medicines. Upon advise of honourable Prime Minister Mr. Shahbaz Sharif and his team including Finance Minister Mr. Miftah Ismail, Minister NHS, Mr. Abdul Qadir Patel & Chairman FBR Mr. Asim Ahmed reveals that availability of Medicine is much more important than its cost. Therefore they took a brave decision to provide relief to the Pharma Industry in terms of just 1% Sales Tax on APIs instead 17%.
As a good gesture delegate PPMA led by Chairman PPMA Mr. Qazi Muhammad Mansoor Dilawar announces to provide worth PKR:50 Million intense needed medicines to Govt. Hospitals every year free of cost in form of donation for needy patients.
Minister NHS / Finance Minister & FBR appreciated PPMA’s excellent step purely for the sake of ailing humanity.
