The Cabinet yesterday approved the “National Drug Policy 2016” to ensure the manufacturing of medicines is in compliance with international standards to increase export of pharmaceutical items.
The approval of the policy came in a regular cabinet meeting held at the Secretariat with Prime Minister Sheikh Hasina in the chair.
Briefing reporters after the meeting, Cabinet Secretary Mohammad Shafiul Alam said: “Some clauses have been added in the new policy and it will replace the current Drug Policy 2005.
“The authorities concerned will have to update the price of drugs every year and publish the updated prices online.”
While talking about export, he said: “Currently, a lot of pharmaceuticals companies, including Square, Incepta, Beximco, are exporting medicines to over 122 countries. Maintaining international standards will enable the companies to reach more markets.”
The cabinet secretary said the new policy also suggests forming a National Drug Regulatory Authority to stop adulteration of medicine and raw materials.
Meanwhile, the cabinet also approved the proposal of “National Human Resources Development Fund” which aims to develop human resources skill nationwide through a proposed legal authority named “National Skill Development Authority.”
Shafiul Alam said: “National Human Resources Development Fund will be under the Finance Division for initial funding. The proposed authority will coordinate all functions of the initiative and it will run under the Prime Minister’s Office.”
The draft of “Cost and Management Accountants Act 2016” was also approved in principle by the Cabinet. As per the draft, three new clauses have been added keeping the provision of punishment for the violators of the law.
Shafiul Alam said: “The draft states that if anybody deceptively uses the name of Institute of Cost and Management Accountants of Bangladesh, they will be punished with six-month prison term and a highest of Tk300,000 fine.”