Govt allows up to 10 percent increase in prices of medicines

By: News Desk      Published: 11:25 AM, 18 Jul, 2020
Govt allows up to 10 percent increase in prices of medicines

There is no escape route or back alley for the people of Pakistan as they are now supposed to pay more for each and everything. The latest move in this unending series is the seven to 10 percent further increase in the medicines’ prices which has been authorised by the PTI government.

24NewsHD TV channel on Saturday reported that the price hike has been allowed and justified under consumer price index under which the Drug Regulatory Authority of Pakistan (DRAP) issued a notification after amending the drug pricing policy.

Moreover, this notification allowing the drug manufacturing companies to increase the prices is issued on the recommendation of the federal government and the DRAP Policy Board.

The notification says the manufacturers and the importers now can increase the prices of basic medicines by seven percent, while this hike is 10 percent in the case of others.

Another alarming feature of the notification is that the DRAP will now increase the prices of the drugs every year on the basis of consumer price index which in the current scenario is expected to rise.

Hence, there is very little chance of any reduction after this yearly review as the inflation is on the rise due to multiple factors, including the devaluation of the rupee.

The drug manufacturers mostly depend on imported ingredients and the devaluation is certainly increasing the cost, not to mention the imported medicines as the price hike is obvious in that case.