If you are doing D Pharmacy or B Pharmacy In Pakistan then the best career line for you is to establish your own medical store business in Pakistan. Here I am telling you complete details about Medical store license requirements, procedure, investment required in Pakistan. Pharmaceutical and Medical Industry of Pakistan is one of the leading and ever growing business. For a planned and successful feasibility, pharmacy and medical store must be a blend of both national and multinational pharmaceutical products. It is one of the highest professions or business including a little staff i-e (Pharmacist, Cashier, and Accountant). For retail pharmacy or a medical store, the profit margin is lies from 15% to 20% on per product. Pakistan has total 800 pharmaceutical manufacturing units and meets 70% of the country’s demand for finished medicines.
Here we have some important instructions and comprehensive information regarding Medical Store License Requirements, Procedure, and Total Investment Required for commencing a medical store in Pakistan. Keep reading this article will probably help you to find the comprehensive detail regarding this.
Medical Store License Requirements, Procedure, Investment Required in Pakistan
Medical Store License Procedure:
The process or procedure of commencing new medical store is simple and comprises of following steps mentioned below. One should have enough investment for starting a Medical store for quality services of drugs.
Medical Store License Requirements:
There are following license requirements for starting a medical store in Pakistan. After inspecting report by Secretary of District Board or Area Drugs Inspector, the authority didn’t issue a license. The licensing authority shall not issue license in Form (9) and Form (10) unless;
- The premises must be clean and hygienic
- The premises must have the adequate and proper facility of storage of drugs and keenly protected from direct sunlight, dust, dirt including refrigerator facility.
- The area of the premises of the Medical Store will not be less than 96 square feet and a minimum breath and height of 8 feet.
- The applicant has not a convict who has been sentenced to imprisonment for a period of one year or more of sentenced to pay fine of 30,000 Rs for manufacturing or selling spurious drugs
Medical Store License Registration Fee:
The grant for new or renewal of license referred to in rule 14 in Form 8(A) or Form 8(B), the applicant shall deposit the fee for a License in the Head of Account No. 1252 Health
- Three thousand rupees for a license of a Pharmacy and two thousand rupees for a license of Medical Store
- Two thousand rupees for renewal of a license of a Pharmacy and one thousand rupees for renewal of a license of a Medical Store
Medical Store License Investment In Pakistan:
Undoubtedly Pharmacy or Medical Store is one of the leading businesses in Pakistan form which you can earn high. But for starting Medical Store in Pakistan at competitive level heavy investment is required. One should have round about 2 million rupees in order to commence a Medical Store including inventory, furniture, and décor at the ideal place. The project will be financed through 90% debt and 10% equity with a payback period of 3.20 years. The legal business status of this project is proposed on sole proprietorship.
Key Factors for Successful Medical Store Business:
- Experienced and Technical qualified entrepreneur
- Experienced and skillful staff
- Ideal and appropriate selection or a location easily accessible to clinics and hospitals.
- Reasonable and affording competitive prices of pharmaceutical drugs
- Inventory control to avoid any pilferage
I have discussed all the details about medical store license requirements, procedure, investment required in Pakistan. Hopefully you are all now well aware with starting medical store business in Pakistan. If you want to get more details about this business please your feed backs in the following comments section.