SECP approves draft pharmaceutical industry order

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The Securities and Exchange Commission of Pakistan (SECP) has approved the draft Pharmaceutical Industry (Cost Accounting Records) Order, 2013 to facilitate maintenance of records by companies engaged in the production, processing and manufacturing of pharmaceuticals products. Pharmaceutical companies are required to maintain such cost accounting records including all particulars relating to utilisation of material, labour or other inputs of items of cost to determine total product cost. The notification is being published for the information of all parties likely to be affected thereby. The draft will become effective in thirty days after its publication in the Official Gazette. Any objections or suggestions which may be received from any person in respect of the said draft before the expiry of the said date will be considered by SECP.