The State Pharmaceutical Manufacturing Corporation (SPMC) earns up to eight-times of profit by deciding exorbitant prices for its products, a report by the Parliamentary Committee on Public Enterprises (COPE) has revealed.
An audit observation has found its profit margin to be between 26 per cent and 81 pc.
When asked to explain, the SPMC has informed COPE that even that those prices, purchasing their products is profitable to customers since other competitive products are priced very high.
