The government of Pakistan has given another shock to the poor people, by allowing an increase in the prices of medicines.
The Federal Government has allowed pharmaceutical companies to raise prices by 7 to 10 percent, according to Baaghi TV.
The notification was issued after the approval of the amendment in the drug pricing policy of DRAP. The amendment in the policy was made on the approval and recommendation of the Federal Government and the policy board of DRAP. Pharmaceutical companies and importers have been allowed 7% increase in prices of basic medicines while 10% increase in prices of other medicines.
According to the notification, the prices of all other medicines have been allowed to increase by 7.3410%. Pharmaceutical companies and importers have been directed to submit evidence of increase in retail price in DRAP which must also be signed by the CEO of the company.
New prices of pharmaceutical companies and importers who do not submit evidence of increase in retail price to DRAP will not be accepted and pricing will be approved within a month if all the evidence presented is correct. According to the notification, the increase in the prices of medicines will be done by the Ministry of Health every year according to the Consumer Price Index while applications for hardship cases will be disposed of in 120 days.
The rise in drug prices has been allowed under the Consumer Price Index.
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