Economy

Cost of kidney dialysis, dengue testing equipment may decline

Photo: Star

Importers will be able to avail significant benefits on the import of kidney dialysis and dengue testing equipment from the upcoming fiscal year.

This comes as the National Board of Revenue (NBR) has proposed to extend the current concessional facility on the import of raw materials necessary for the manufacturing of medicines, medical supplies and healthcare products in the upcoming budget.

It specifically suggested reducing the import duty on dialysis filters and dialysis circuits, essential materials used for kidney dialysis, to 1 percent from 10 percent.

The NBR is also planning to introduce a new notification in the upcoming budget to facilitate the import of dengue kits at subsidised rates.

The NBR had previously exempted import duty, value-added tax, and advance tax on rapid dengue detection test kits, dengue re-agents, and platelet and plasma test kits in 2019 due to increasing dengue outbreaks.

However, this exemption lapsed in October 2019 and was not renewed.

The new proposal comes in light of the ongoing dengue outbreaks in the country, which have been escalating every year.

The NBR also assigned a unique HS code for spinal needles, a common tool for medical treatment, and set the import duty at 5 percent.

Additionally, there are plans to facilitate the import of raw materials needed for manufacturing cancer drugs to reduce the cost of cancer treatment.

It was also proposed to include three new products for the production of bio-hygienic equipment in the medical sector.

However, the reduction of two existing facilities in the healthcare sector has also been recommended.

One of these is to increase the import duty on medical equipment and materials by referral hospitals from 1 percent to 10 percent.

Additionally, the import facility for ambulances will also be reduced due to misuse.

Currently, both Toyota Noah and Toyota Hiace cars can be imported as ambulances. But in the upcoming budget, only Hiace cars will be allowed.

To prevent misuse, it was proposed to set the minimum length of the passenger cabin of the ambulance at nine feet. Since the Noah vehicle does not meet that requirement, it can no longer be imported as an ambulance under the clause.

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Cost of kidney dialysis, dengue testing equipment may decline

Photo: Star

Importers will be able to avail significant benefits on the import of kidney dialysis and dengue testing equipment from the upcoming fiscal year.

This comes as the National Board of Revenue (NBR) has proposed to extend the current concessional facility on the import of raw materials necessary for the manufacturing of medicines, medical supplies and healthcare products in the upcoming budget.

It specifically suggested reducing the import duty on dialysis filters and dialysis circuits, essential materials used for kidney dialysis, to 1 percent from 10 percent.

The NBR is also planning to introduce a new notification in the upcoming budget to facilitate the import of dengue kits at subsidised rates.

The NBR had previously exempted import duty, value-added tax, and advance tax on rapid dengue detection test kits, dengue re-agents, and platelet and plasma test kits in 2019 due to increasing dengue outbreaks.

However, this exemption lapsed in October 2019 and was not renewed.

The new proposal comes in light of the ongoing dengue outbreaks in the country, which have been escalating every year.

The NBR also assigned a unique HS code for spinal needles, a common tool for medical treatment, and set the import duty at 5 percent.

Additionally, there are plans to facilitate the import of raw materials needed for manufacturing cancer drugs to reduce the cost of cancer treatment.

It was also proposed to include three new products for the production of bio-hygienic equipment in the medical sector.

However, the reduction of two existing facilities in the healthcare sector has also been recommended.

One of these is to increase the import duty on medical equipment and materials by referral hospitals from 1 percent to 10 percent.

Additionally, the import facility for ambulances will also be reduced due to misuse.

Currently, both Toyota Noah and Toyota Hiace cars can be imported as ambulances. But in the upcoming budget, only Hiace cars will be allowed.

To prevent misuse, it was proposed to set the minimum length of the passenger cabin of the ambulance at nine feet. Since the Noah vehicle does not meet that requirement, it can no longer be imported as an ambulance under the clause.

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