The Economic Coordination Committee of Cabinet Friday approved a 20percent hike in the medicine prices, reported 24NewsHD TV channel.
Federal Minister for Finance and Revenue Senator Mohammad Ishaq Dar presided over the ECC meeting, a Finance Ministry press release said.
The meeting also approved 14% increase in prices of essential life-saving medicines. The ECC also allowed pharmaceutical companies to fix the maximum retail price of medicines.
The ECC also approved Rs3.5 million for setting up passport processing centers in 30 administrative units across the country.
The committee also approved the summary for reopening of US-based Roosevelt Hotel.
In this regard, a four-member committee headed by the Secretary Aviation Division has been formed to negotiate with the New York City government, a statement issued by the ministry after the meeting.
It was announced in the meeting that all 1025 rooms of the hotel will be made functional again at the rate of $200 per day.
The meeting approved the setting of wheat procurement targets for Sindh, Punjab and Balochistan for 2022-23.
A target of purchasing 1400 metric tons of wheat has been set for Sindh at a price of Rs.4000 per maund.
A target of 3500 metric tonnes has been set for Punjab at a price of Rs 3900 per maund while 0.100 metric ton wheat purchase target was set for Balochistan at Rs3900 per maund.
The Committee also sanctioned technical grant of Rs.45 crore for Ministry of Home Affairs. The grant will be utilized for the needs of the Islamabad Police.