Cabinet slashes drug prices by 30 percent
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On the recommendation of Federal Health Minister Abdul Qadir Patel, the federal cabinet on Tuesday approved a cut in the prices of 20 medicines, reported 24NewsHD TV channel.
According to the Health Ministry spokesperson, the prices of most of the medicines have been decreased by 30 per cent.
On the occasion, Abdul Qadir Patel said that the decrease in the prices of medicines used against various diseases was another step towards providing relief to the people.
“The prices of medicines used against blood pressure, cancer and eye diseases have been reduced. An approval has also been given to fix the prices of 54 new medicines,” he added.
“The PTI government increased the prices of medicines by 700 per cent,” he deplored.
“Ensuring uninterrupted supply of quality medicines for the welfare of the people is our top priority,” he stated.
On the other hand, upon a letter from the State Bank of Pakistan (SBP) for opening Letters of Credit (LCs) for importing raw material for manufacturing medicines, former Pakistan Pharmaceutical Manufacturers Association (PPMA) chairman Qazi M Dilawar Mansoor said that $30 to $40 million should be allocated for the pharma industry on the pattern of Sri Lanka.
“In view of the increasing value of dollar, the prices of medicines should be increased by 40 per cent,” he demanded.
Reporter: Kifayat Ali Shah