: Govt caps trade margin on oxygen concentrators at 70 per cent #FinanceIndia #StockMarketNEWS Govt caps trade margin on oxygen concentrators at 70 per cent New Delhi, Jun 5 (KNN) In view of the extraordinary

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Govt caps trade margin on oxygen concentrators at 70 per cent #FinanceIndia #StockMarketNEWS
Govt caps trade margin on oxygen concentrators at 70 per cent New Delhi, Jun 5 (KNN) In view of the extraordinary circumstances arising due to the COVID pandemic that has resulted in recent volatility in Maximum Retail Prices (MRP) of Oxygen Concentrators, the government has capped the trade margin on oxygen concentrators at 70 per cent from up to 198 per cent being charged currently.

The order will be applicable up to November 30, 2021, subject to review.

By invoking extraordinary powers under Para 19 of the DPCO, 2013 in larger public interest NPPA has capped the Trade Margin up to 70 per cent on Price to Distributor (PTD) level on Oxygen Concentrators, an official statement said on Friday.

Earlier, in February 2019 NPPA had successfully capped the Trade Margin on Anti-cancer Drugs. Based on the notified Trade Margin, NPPA has instructed the manufacturers / importers to report revised MRP within three days. Revised MRPs will be informed in public domain within a week by NPPA.

Every retailer, dealer, hospital and institution shall display a price list as furnished by the manufacturer, on a conspicuous part of the business premises in a manner so as to be easily accessible to any person wishing to consult the same.

The manufacturers / importers not complying with the revised MRP after Trade Margin capping, shall be liable to deposit the overcharged amount along with interest at 15 per cent and penalty up to 100p per cent under the provisions of the Drugs (Prices Control) Order, 2013 read with Essential Commodities Act, 1955, it added.

State Drug Controllers (SDCs) shall monitor the compliance of the order to ensure that no manufacturer, distributor, retailer shall sell Oxygen Concentrators to any consumer at a price exceeding the revised MRP, to prevent instances of black-marketing.

With the spurt in cases under COVID 2.0 pandemic in the country, demand for Medical Oxygen has gone considerably. The Government is striving to ensure uninterrupted supply of Oxygen and Oxygen Concentrators in adequate quantity in the country during the pandemic. Oxygen Concentrator is a Non-Scheduled Drug and presently under voluntary licensing framework of Central Drugs Standard Control Organization (CDSCO).