August 10, 2024, 11:47 AM
August 10, 2024, 11:47 AM
The Bolivian pharmaceutical industry regretted that despite the Government’s commitment to provide foreign currency, through the Union Bankto pay suppliers of raw materials abroad, difficulties in accessing the US currency continue.
The Bolivian Chamber of the Pharmaceutical Industry (Cifabol), He said on Friday that the sector needs between $10 and $14 million per month to normally develop its activities, especially with international suppliers of inputs. But the state entity has not been able to meet the need.
He Cifabol general manager Josip Lino, He stated that pharmacists have been feeling, since the end of 2023, the negative effects of limitations in access to the dollar. Given this situation, andThe sector was forced to ask the national government for some measure that would allow them access to the US currency. After a meeting it was agreed that Banco Unión would provide them with this currency.
Cifabol, through a statement, stated that the approach did not have the expected results. He considered that not paying suppliers on scheduled times not only means not having access to raw materials, but losing overseas suppliers who trade with the country.
Due to the small order volumes, Bolivia does not have direct access to the original supplier, but rather through intermediaries.
Lino said that in order to have the raw materials in a timely manner and To meet their obligations to suppliers, pharmaceutical industries made payments abroad in other currencies and the most used has been the euro, but access to that currency has meant a greater extra cost.
“We have been suffering from a lack of dollars for a long time” and we are currently experiencing difficulty in accessing other currencies such as the euro, because the banks are already ceasing to make transactions in this currency, hence the request to see with the Government some other measure, We are in an emergency situation.” said the manager of Cifabol.
Lino states that, in a final note, They asked the Government for alternatives In the absence of access to foreign currency or the additional costs that are faced, these measures may include: some of a tariff or tax nature, that allows them, in a certain way, cover these extra costs and thus these do not affect the production or the final price of the medicine.
However, he stressed that despite these difficulties, the pharmaceutical industries They have been ensuring the normal supply of medicines, But the lack of a solution has led the sector to state in the latest notes sent to the Ministry of Economy that there are Concern about stock shortages of some raw materials, which does not guarantee supply.
Regarding tax relief, Lino anticipated that the issuance of a regulation that provides for it could be analyzed for a certain period of time, zero tariff for the import of raw materials and supplies for the production of medicines, something similar to what was established during the Covid-19 pandemic.
Currently, the difficulties in accessing foreign currency are compounded by the additional costs for logistics, both national and international, because they depend on the prices of the container freight, which has also increased due to the lack of diesel. “Therefore, there are several factors that affect the production of medicines, in the complicated situation that the sector is currently facing, We ask for urgent measures and quickly to overcome these obstacles,” he added.
