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Business Health Pakistan Trending Now

Sales Tax Likely to Be Imposed on Life-Saving Drugs

Karachi: There is a possibility of imposing a sales tax on life-saving drugs based on the suggestion of the International Monetary Fund (IMF).

According to media reports, a sales tax ranging from 10% to 18% may be applied to medicines. Consequently, each company will have the freedom to set prices for all drugs, with the potential for companies to increase prices of non-essential medicines at their discretion.

It is worth noting that the decision to deregulate drug prices was made by the former caretaker government.

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