- Web Desk
DRAP seeks price hike of 200 medicines
- Web Desk
- Jul 25, 2023
ISLAMABAD: The Drug Regulatory Authority Pakistan (DRAP) has forwarded a summary to the government, seeking to increase the price of at least 200 medicines.
DRAP officials said that registration of unavailable medicines will be carried out on a priority basis.
On the other hand, doctors said that several life-saving medicines were currently unavailable across the country.
They said that diagnostic drugs used in radiography were missing from the market. They said that numerous essential medicines for the treatment of neurological and nervous system disorders were also missing from the market.
In February 2023, 70 pharmaceutical companies wrote a letter to the government, urging it to increase the prices of medicines in Pakistan due to the rising inflation and significant rupee depreciation in the country.
They also warned that they would halt or reduce their production if the government did not meet their demand.
The pharmaceutical companies cited several factors for their request, such as the global increase in the prices of raw materials and pharmaceutical ingredients due to the COVID-19 pandemic, the high costs of fuel, electricity, freight charges, and packing material and the suppression of imports.
The DRAP had earlier submitted a summary to the government, requesting to raise the prices of 200 medicines. However, the government deferred a decision on their request, saying that it would ensure that there was no scarcity of medicines in the country.
In April 2023, the Economic Coordination Committee approved a 20% increase in the prices of several medicines including painkillers, anti-infection drugs, cardiac drugs, and antibiotics due to the worsening economic crisis.