Business

Taskforce to explore investor obligations in medicinal cannabis

October 12, 2023 6:16 am

Medicinal cannabis

There will be very strict criteria in relation to medicinal cannabis that manufacturers or investors will need to follow.

Speaking during the public consultation Permanent Secretary for Trade Shaheen Ali says the Medicinal Cannabis Task Force is looking into what sort of obligations can be placed on investors, which include licensing requirements, a license fee, and taxes.

Ali says the Ministry of Home Affairs and Immigration is part of the task force and is keeping a watchful eye on how the whole introduction and implementation of the industry take place.

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Permanent Secretary for Trade Shaheen Ali

He adds that they have pointed out a number of factors and issues that need to be watched as far as monitoring and security are concerned.

“And this may be a costly exercise, but like I said, we can make investors and manufacturers responsible for ensuring that the loop is very tightly controlled and the industry is very tightly controlled, so there is no leakage or any sort of security threat arising out of the establishment of this industry.”

Ali says they also plan to implement facility surveillance systems.

He adds that the government’s focus is to strictly regulate and control the manufacturing process and ensure compliance with the highest standards, international standards, and regulations as well.

The Permanent Secretary says the approach is to reduce the risk of any negative impacts or externalities such as misuse, diversion, and crime.

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