Industry & Economy
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Pharmaceuticals
New pharma policy on cards: Paswan
Our Bureau
New Delhi
,
Nov. 25
THE Government will shortly announce a new policy for the pharmaceutical sector based on the recommendations of Dr Pronab Sen, Principal Advisor Planning Commission, after seeking views of the various stakeholders, said the Chemicals and Fertilisers Minister, Mr Ram Vilas Paswan.
Replying to questions in the Rajya Sabha, the Minister highlighted the recommendations of the task force, which include imposing price controls on drugs based on `essentiality' and not on the turnover and promoting generic drugs.
He said public sector enterprises would be revived, fiscal incentives in research and development would be provided and financial support would be extended to ensure that good manufacturing practices are followed.
He said the task force also recommended reduction of excise duty of drugs to eight per cent from 16 per cent and enhance exemption limit of SSI units from Rs 1 crore to Rs 5 crore.
Mr Paswan further said after the passage of the Patent Law, prices of drugs have not gone up.
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