PESHAWAR: The local pharmaceutical manufacturers have demanded of the government to increase the maximum retail prices (MRP) of medicines, including lifesaving ones, by 20-30 per cent and abolish 17 per cent sales tax for them.

The demand was made during a meeting between the owners of drug manufacturing units and Sarhad Chamber of Commerce and Industry leader Hasnain Khurshid Ahmad at the Chamber’s House here on Wednesday.

The visitors led by Junaid Altaf said if 20-30 per cent hike in the MRPs of medicines and abolition of 17 per cent sales tax for the pharmaceutical industry were not notified, many units would close down causing medicine shortages and price hikes.

Mr Altaf said it would be ‘completely’ unjust not to increase medicine MPRs in view of the escalating oil and raw material prices in the local and global markets.

“The prices of raw pharmaceutical materials have increased in the global market causing serious problems for drug manufacturers, who are reeling from the impact of pandemic-induced losses,” he said.

He warned that if the issues were not resolved immediately, many associated with the pharmaceutical industry in the province would lose jobs.

Mr Khurshid assured the delegates that the SCCI would take up their issues with the relevant federal and provincial authorities for effective resolution.

He complained about the excessive power outages and said the prolonged suspension of electric supply had badly affected industrial production causing massive losses to the industry.

“Over 70-80 pharmaceutical manufacturing units in Khyber Pakhtunkhwa are nearing closure to cause massive unemployment,” he said .

Published in Dawn, June 16th, 2022