PM’s intervention sought for pharma tax recovery

ISLAMABAD: The Pakistan Young Pharmacist Association has alleged over Rs500 billion worth of general sales tax evasion by the pharmaceutical sector and demanded intervention by the prime minister for the sum’s recovery.

In a letter to the prime minister, Pakistan Young Pharmacist Associa general secretary Dr Furqan Ibrahim said the government imposed GST on the pharmaceutical industry in March 2002 before fixing zero-rated GST in October 2002 on human allopathic registered medicines, whose maximum retail prices were fixed by it.