Karachi (Lord Media): The Pakistan Pharmaceutical Manufacturers Association (PPMA) has urged the government to allow pharmaceutical companies to retain 35% of their export earnings in foreign currency to increase exports to 2 billion U.S. dollars. PPMA states that this move would help cover overseas marketing and brand registration costs.<\/p>\n
Currently, companies are permitted to retain only 15% in foreign currency, which Dr. Qaiser Waheed considers insufficient. He stated that this change would not only boost exports but also strengthen competitiveness in the global market.<\/p>\n
PPMA has included in its budget proposals to the Ministry of Finance a request to amend the State Bank’s foreign exchange manual to increase the foreign currency retention limit to 35%.<\/p>\n
The pharmaceutical industry has also requested the restoration of a 10% tax credit on machinery purchases, which would promote industrial growth and economic stability.<\/p>\n
PPMA has proposed tax exemptions on export earnings and other incentives to enhance the international reach of Pakistani products.<\/p>\n","protected":false},"excerpt":{"rendered":"
PPMA seeks 35% forex retention for pharma firms to boost exports to 2 bn USD, citing marketing cost coverage. Current 15% limit deemed insufficient by Dr. Waheed.<\/p>\n","protected":false},"author":1,"featured_media":74621,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[292,468,469,470,471,305],"ppma_author":[94],"class_list":["post-74620","post","type-post","status-publish","format-standard","has-post-thumbnail","category-uncategorized","tag-export-growth","tag-foreign-currency-retention","tag-pharmaceutical-industry","tag-ppma","tag-trade"],"yoast_head":"\n