"Though the proposal is yet to get approval from the Election Commission in view of the present general elections, however, we are hopeful that it will get the nod from the Election Commission before the scheduled date," Mr Jasti told f48FE.f45
The proposed new council has already received the corpus fund of Rs 3 crore from the Andhra Pradesh government, which was an important criteria put forth by the ministry of commerce, Mr Subba Rao, secretary, BDMA said.
The new council will be headquartered at Hyderabad with a regional office in Mumbai, he said. In this regard, the commerce ministry has already sought required clarification from the Election Commission and pleaded for exclusion of this issue from the election code, Mr Rao said.
The government is expected to release a notification after it receives clarification from EC, he added.
About 2,000 members have decided to join as members in the newly-formed body.
Meanwhile, a steering committee was formed recently and unanimously elected a committee of administration to take care of initial operations comprising of Mr DB Mody of JB Chemicals & Pharmaceuticals as chairman and Mr Venkat Jasti of Suven Life Sciences Ltd as vice-chairman.
The other members of steering committee in Pharmaexcil include Mr NH Israni of Blue Cross Laboratories, Mr K Nityananda Reddy of Aurobindo Pharma, Mr Arun Sawhney of Dr Reddy's Laboratories, Mr Nalvade of Aventis besides executive committee members of Bulk Drug Manufacturers Association of India (BDMA), Indian Drug Manufacturers Association (BDMA), Organisation of Pharmaceutical Producers of India (OPPI).