Review pharmaceutical tariffs, urges Moyo

HARARE - Reveiwing of import tariffs on pharmaceutical products will go a long way in sustaining the local industry, Pharmaceutical Society of Zimbabwe president, Dr Dothan Moyo has said.

Moyo added the national drug procurement processes need to address the question of preferential quotations for the local pharmaceutical industry.

“We believe challenges faced by the local manufacturing industry still exist and these low capacity utilisation, unfavourable lines of credit, high labour costs, competition from low cost manufacturing countries such as India, tariffs and non-tariff barriers and lack of support for local procurement policies, affect the industry,” said Moyo.

He said favourable lines of credit and recapitalisation will help in sustaining the industry.

“Issues of import Duty and Value Added Tax (VAT) on raw materials should be reviewed with a view of eliminating these taxes completely. At the end user point, all prescription medicines are tax exempt and indeed the majority of over the counter drugs. This regime should carry on,” said Moyo.

Moyo said it is the view of the industry that in order to level the playing field, duties and VAT should be levied for all imported finished pharmaceutical preparation that the local industry can manufacture.

“The industry can supply at least 40 percent of the medicines listed in the Essential Drugs List of Zimbabwe,” he said.

The Pharmaceutical Society of Zimbabwe is a voluntary body representing the interests of pharmacists from across the varied scope of pharmacy practice.

It seeks to improve the art and science of pharmacy and to uphold ethical practice and professionalism within various stakeholders from patients, regulations and policy makers through advocacy, consultation and representation.


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