A biodegradable pharma grade dressing ointment for treatment of wounds, cuts, abrasions, surgical sutures and any such injuries, in the form of topical hemostatic-antiseptic dressing ointment essentially comprising of chitosan and povidone-iodine as active substances which altogether synergizes the effect of proposed invention, as the chitosan serves the purpose of topical hemostatis with antimicrobial activity for arresting the bleeding and efficiently promoting the faster healing whereas povidone-iodine enhances the wound healing property by preventing the contamination and infection at the affected site.