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The government of Bangladesh is going to include raw materials, needed for manufacturing cancer medicines locally in the existing notification, to encourage manufacturers to produce more cancer drugs at lower prices.
The proposed budget also aims to reduce the prices of anti-malarial and anti-tuberculosis drugs.
Finance Minister AHM Mustafa Kamal proposed the inclusion while placing the upcoming budget for FY24 in the national parliament on Thursday.
Terming cancer treatment in the country expensive, the minister said, “In order to make the treatment of cancer patients more affordable, I propose to include one hundred more raw materials of cancer medicines in the existing notification.”
Although subsidy issue of such materials had been in discussion for years, materials were out of the list as the statutory regulatory order (SRO) No 121 of 2021 did not include it.
The minister proposed to issue a new SRO in this regard.
The minister also proposed to allow one of the main raw materials for the production of IV cannula and silicone tube to be imported at a concessionary rate.
Besides, in order to encourage the production of diabetic management related drugs locally, he also proposed to include three more raw materials for the production in the existing notification.
He further proposed to extend the current period of exemption from value added tax (excluding AT) and supplementary duty (where applicable) on import of certain raw materials used in the production of sanitary napkins and diapers for the protection of women and children, till June 30, 2024.
The minister also proposed exemption of VAT at the production stage on anti-malarial and anti-tuberculosis drugs, so that people can get lifesaving medicines at lower prices.
3% increase in health sector budget
Though inflation remained high in the country in recent times, the minister on Thursday proposed allocating Tk 38,052 crore for the health sector in the budget for fiscal year 2023-24.
Of the total, Health Services Division will get Tk 29,430 crore while Medical Education and Family Welfare Division Tk 8,621 crore.
Tk. 36,863 crore was allocated in the last fiscal year. Despite high inflation, the health sector would see only 3.23% increase in the budget allocation. Last year the sector witnessed almost 5.4% increase in the budget allocation.
In last fiscal year, Tk 15,851 crore was allocated for health service division but this year the minister proposed Tk 12,210 crore in the budget for FY2024. Revised ADP allocation for the division stood at Tk 9,791 crore.
In his speech, Mustafa Kamal said that his prediction that FY2022-23 would be the last year to recover from the effects of the pandemic has come. So, in this budget, the government’s aim will be to sustain the economic recovery by successfully implementing the ongoing stimulus packages.
He said, “The foremost objective of the government is to ensure quality healthcare for all citizens. Consistent with this objective, we are providing healthcare services across the country through 31 operational plans under Fourth Health, Population and Nutrition Sector Programme (HPNSP).”
