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New Delhi , March 18

THE Indian Drug Manufacturers Association (IDMA) on Friday demanded a reduction in excise duty on drugs and pharmaceutical products to 8 per cent from the current 16 per cent.

At a protest rally here against the Government's decision to charge excise duty on maximum retail price, the IDMA said this would lead to small and medium companies shutting down.

Mr S.R. Vaidya, Co-Chairman, SSI Committee, IDMA, said, "Ever since the notification came on January 7, many companies are shifting to excise-free zones in Himachal Pradesh and Uttaranchal and those which cannot have shut their factories." He added that the bigger companies are able to pass the impact of 16 per cent excise duty to customers, smaller companies are unable to do so. "This has created a disparity,'' he said, urging the Government to create a level-playing field.

IDMA also regretted that the Ministry of Chemicals and Fertilisers has been non-committal on their demand.

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