Daily Times

Industry representatives and other stakeholders have urged the government to reconsider GST hike on veterinary medicines, feed.

Delegations from the Veterinary Pharmaceutical Association, farmers, pharmaceutical stakeholders, traders, Punjab Poultry Association, manufacturers, and importers mad this demand in a meeting with Lahore Chamber of Commerce and Industry (LCCI) Vice President Adnan Khalid Butt here at LCCI on Wednesday. The delegation included President Punjab Traders Association Tariq Javed, Chairman Punjab Traders Association Rana Qasim Iqbal, Co-conveners of Veterinary Pharmaceutical Association Nadeem Yousaf and Dr. Saleh Mahmood, Secretary Veterinary Pharmaceutical Dr. Majid Ijaz, former Chairman Rai Mansab Ali Kharal, President Tollinton Market Javed Iqbal, President Punjab Poultry Association Tariq Javed, Vice Presidents PPA Mian Aqeel and Chaudhry Shakeel, Chairman Rate Committee Mehar Irfan, Rana Qasim Iqbal, Mian Shehbaz, and others.

The representatives of the delegation informed the Vice President about the issues facing the veterinary pharmaceutical sector, stating that currently, more than 22,000 pharmaceutical companies are operating in the country. In the recent budget, the government has increased the General Sales Tax (GST) on feed from 10 to 14 percent, while a proposal has been made to increase the GST on veterinary medicine to 18 percent. The participants demanded the immediate withdrawal of the proposed increase, fearing that if not addressed, the poultry rates would double, putting them out of reach for the public. They mentioned that in the past, feed and veterinary medicines were zero-rated for GST. They argued that this increase would escalate their production costs, causing Pakistani exporters to lose markets like Afghanistan to India and other countries.

They explained that this would diminish the potential of Pakistani exporters and halt farm activities, leading to employment issues. They also highlighted that the 18 percent tax is imposed on every item related to poultry. They emphasized the critical role this industry plays in meeting the country’s nutritional needs, with millions of businesses and a significant economic cycle linked to this sector.