Duty, VAT Waiver on Cancer Drug Raw Materials

The government has moved to make the production of cancer drugs in the country easier and more cost-effective. To this end, Finance Minister Amir Khasru Mahmud Chowdhury has proposed a full exemption from customs duty and VAT on the import of nine new raw materials used in the manufacture of cancer medicines.

The budget proposal states that the government aims to strengthen the country’s pharmaceutical industry and make it more self-reliant in producing internationally standard cancer drugs. As part of this initiative, nine new raw materials will be added to the existing list of items eligible for concessional benefits. The proposal sets both import duty and VAT on these raw materials at zero percent.

Stakeholders say the measure will reduce the cost of producing cancer medicines in the country if implemented, allowing patients to access essential drugs at comparatively lower prices. At the same time, it will enhance the capacity of the domestic pharmaceutical industry and help reduce dependence on imports to some extent.