LAHORE: Delegations from the Veterinary Pharmaceutical Association, farmers, pharmaceutical stakeholders, traders, Punjab Poultry Association, manufacturers, and importers visited the Lahore Chamber of Commerce and Industry and met with Vice President Adnan Khalid Butt.
The delegation included President Punjab Traders Association Tariq Javed, Chairman Punjab Traders Association Rana Qasim Iqbal, Co-conveners of Veterinary Pharmaceutical Association Nadeem Yousaf and Dr. Saleh Mahmood, Secretary Veterinary Pharmaceutical Dr. Majid Ijaz, former Chairman Rai Mansab Ali Kharal, President Tollinton Market Javed Iqbal, President Punjab Poultry Association Tariq Javed and others.
The representatives of the delegation informed the Vice President about the issues facing the veterinary pharmaceutical sector, stating that currently, more than 22,000 pharmaceutical companies are operating in the country. In the recent budget, the government has increased the General Sales Tax (GST) on feed from 10% to 14%, while a proposal has been made to increase the GST on veterinary medicine to 18%.
The participants demanded the immediate withdrawal of the proposed increase, warning that if not addressed, the poultry rates would more than double, putting them out of reach for the public. They mentioned that in the past, feed and veterinary medicines were zero-rated for GST. They argued that this increase would escalate their production costs, causing Pakistani exporters to lose markets like Afghanistan to India and other countries.
Copyright Business Recorder, 2024
Comments