The prices of locally-manufactured medicines will go up by more than 20 per cent within the next two months as the machinery used and packaging material are not exempted from VAT, producers said.
VAT is not applicable only for raw materials, they said, adding that they had no option but to pass on the extra production cost to consumers.
Producers are also forced to minimize production and staff and as a result, allowing imports to take place, they noted.
The country presently has around 20 medicines manufacturers, who want an immediate discussion with authorities on how to arrest the situation.
(aruna.lk)
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