Medicine prices likely to go up as govt forms committee for negotiations

By Muhammad JuniadPublished On 06 Jan 2023

ISLAMABAD: Prime Minister Shehbaz Sharif has formed an 18-member committee to discuss the increase in the prices of medicines, following demands from the pharma industry.

The Pakistan Pharmaceutical Manufacturers Association is demanding at least 40 percent hike in the prices of their products as they claimed that rupee devaluation and other factors had increased the cost of production in Pakistan.

Finance Minister Ishaq Dar will head the government’s committee while other members include Health Minister Abdul Qadir Patel, Minister for Economic Affairs Sardar Ayaz Sadiq, Advisor to Prime Minister on Establishment Ahad Khan Cheema,

SAPM on Government Effectiveness Dr Muhammad Jehanzeb Khan, Federal Secretary Health Dr Fakhre Alam and Secretary Board of Investment Fareeha Mazhar.

The committee will discuss the price increase of medicines with the companies, besides reviewing the exiting Drug Pricing Policy 2018 and its amendments.

It will submit a report to the prime minister, proposing ways to implement the request of the local and multinational pharmaceutical companies.