Tax exemptions, lesser import duties on Cancer drugs proposed
Finance Minister AHM Mustafa Kamal has proposed a cut in import duties for lifesaving gases to make them affordable for poor patients at a lower price.
“I propose cutting regulatory duties to 10% from 20% on the import of liquid Oxygen, Nitrogen, Argon, and Carbon Dioxide to make these lifesaving gases available to poor patients at a lower cost,” said the finance minister in his budget speech.
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The quality of medication and drugs being produced in Bangladesh is globally recognized and the burgeoning pharmaceutical industry of the country is one highly potential export-earning sector in Bangladesh.
Exemptions and discounted rates of import-duties on some highly sought-after pharmaceutical raw materials, including cancer medication, have been proposed.