Ghana’s Pharmacy Chamber has appealed to the government to remove all taxes on all imported inputs and raw materials for pharmaceutical companies.
The group argues that this will reduce the imports of medicines substantially within the short term.
The Chamber asking for a 100 percent exemption on export duty to enable them export to neighbouring countries.
According to the Chamber the continuous importation of medicines which is currently estimated at 70 percent, prevents the local industry from growing. He added that this has partly contributed to the rise in the cost of healthcare.
The President of the Pharmaceutical Importers and Wholesalers Association, Samuel Donkor said “We, therefore, urge the government to do what it can by providing the physical incentives; 100 percent exemptions on import duties and levies on all inputs and raw materials to be used for the pharma-park; 100 percent exemption on export duty to enable us export to neighbouring countries; 100 percent exemption on income tax; total exemption from payment of withholding taxes from dividends arising out of investments as well as relief from double taxation for foreign investors.”
He said this during the signing of a Memorandum of Understanding (MoU) between the Chamber and Apollonia City.
The MoU will see to the release of about 60-acre land for the establishment of pharma-park at the Apollonia village. The site will be home to factories that will produce medicines locally and improve supply both to the local and regional markets.
CEO of Apollonia City, Bright Amofa also committed to the provision of the needed incentives to get the project fulfilled.
“Our partnership here today is to assist the Chamber with providing the land, the infrastructure and also assisting with funding for their members to be able to develop their industries. There are a number of indigenous companies who are members of the Chamber who are importing and distributing,” he observed.
“It is important that we strengthen our local economy so this for us marks the beginning of many things to come and the growing of our local pharmaceutical company to match that of others like India which have grown,” Mr Amofa added.
Meanwhile, Ghana’s Deputy Minister of Health Kingsley Aboagye Gyedu who witnessed the event said the government will support pharmaceutical companies to achieve their aim.
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