ISLAMABAD: The Ministry of National Health (MoH) has allowed pharmaceutical companies to increase the prices of essential medicines by 7 per cent and non-essential medicines by 10 per cent as per the annual Consumer Price Index (CPI).
However, pharmaceutical companies have decided not to raise drug prices in the first quarter of the current financial year to co-operate with the government’s efforts to provide relief to the public against the corona virus.
According to a spokesman for the Ministry of Health, the government has taken immediate steps to keep prices stable by contacting pharmaceutical companies to alleviate the suffering of the people during the global epidemic.
It should be noted that under the Drug Policy 2018, according to the annual Consumer Price Index, pharmaceutical companies can increase the prices of critical drugs by 7% and non-essential drugs by 10%.
However, all medicines will remain available at the old prices till the end of next month as the pharmaceutical companies have decided not to increase the prices of medicines in the first quarter of the financial year to support the government’s relief measures.
The spokesperson said that the government appreciates the decision of the pharmaceutical companies to support the government in providing relief to the people in this difficult time.
Read more: Pharmacists announce reduction in prices of 395 essential medicines
The Ministry of Health had last month issued a notification to change the prices of medicines after the approval of DRAP, but due to the spread of Corona virus, discussions were underway with pharmaceutical companies on the issue.