ISLAMABAD (July 31 2003) : To attract investment in pharmaceutical industry, the Central Board of Revenue (CBR) has allowed concessionary import of new raw materials, packing materials and chemicals.
The CBR has amended SRO 372 (I)/2002 through a notification issued here on Wednesday.
The pharmaceutical industry already enjoys concessional rate of custom duty on the import of hundreds of items of raw material, active ingredients and packing material. Now, the CBR has included 30 new items in the list of concessionay pharmaceutical products.
The concessional rate of duty in excess of ten percent ad valorem will now also be applicable on the import of amoxicillin sodium sterile, ampicillin sodium sterile USP, cloxacillin sodium, sterile USP/BP, pencillin benzathin and mastercote.
The exemption of duty in excess of five percent ad valorem would be applicable on butyl ortho propionate, diethylanlline, hydrofurane, hyoscine hydrooromide; iso butyl acetophonone, iso propyl chloro acciste, lithium chloride, mono chloro benzene, N-acetyl sulphanily chloride, N-benzyl-N-Butylamine, N-butyl bromide, o-chlorobenzonic acid, ortho nitro chloro benzene, para toulene sulphuric acid, P-hydroxy acetothephenone, sodium iso prope oxide, trimethoxy dipheny propylutene; trimethyl ortho vacreate, betamethasone-17, dexamethasone base, hyoscine N-butyl bromide, mefenamic acid and nimesulide.