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Tamil Nadu
Small pharmaceutical units observe protest day
Staff Reporter
CHENNAI:
Small scale pharmaceutical units in the State remained closed on Monday in protest against the Centre's practice of levying excise duty on the maximum retail price of the products, according to B. Sethuraman, president, Pharmaceutical Manufacturers' Association of Tamil Nadu. The manufacturers are demanding reversion to the earlier system under which the 16 per cent duty was levied on the ex-factory price of the drugs. Stating this, he said apart from the one-day closure, the manufacturers also organised a demonstration here to highlight the impact of the change and their demand.
Later, the association submitted a petition to the Chief Minister's office, appealing for the creation of "free economic zones" in Nagapattinam and Cuddalore, which were devastated in the tsunami on December 26 last. Entrepreneurs setting up units should be granted exemption from excise duty and income tax for a stipulated period.
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