Duty Concessions On Some Drugs, Medicines

Press, Volume C, Issue 29637, 6 October 1961, Page 14

Duty Concessions On Some Drugs, Medicines

(New Zealand Press Association)

WELLINGTON, October 5. Changes in the Customs tariff affecting certain drugs and medicinal preparations were gazetted tonight and will come into force tomorrow.

The Minister of Customs (Mr Marshall) said the amendment would enable him to approve the entry, at concessional rates of duty, of drugs, chemicals, and medicinal preparations recommended by the Minister of Health.

“Many drugs and medicinal preparations avilable under the Social Security pharmaceutical benefits scheme are subject to normal rates of duty under the Customs tariff” he said. “This duty is costed into the wholesale and retail price of the goods, and ultimately results in a substantially higher charge being made against the Social Security fund than the Government originally collected in the form of Customs duty. “The admission of approved drugs and medicinal preparations at the concessional rates provided in the amendment should result in a

worth-while reduction in Government expenditure. “Applications for the concession should, in all cases, be made to the Health Department to enable the Minister of Health to consider whether or not particuiai medicinal preparations should be recommended for approval,” Mr Marshall said. He added that in all cases consideration would be given to the interests of local manufacturers and compounders. The order will expire on June 30, 1962, but the Government intends to include a similar provision in the proposed new Customs tariff during the present session of Parliament