ISLAMABAD: The Pakistan caretaker cabinet has approved an increase in prices of more than 146 life-saving drugs on Wednesday.
The hike in prices of life-saving medicines is another huge blow to the poor masses already grappling with inflation and finding it difficult to make ends meet due to rising prices.
As per a notification released today, the decision primarily impacts critical drugs crucial for treating ailments such as cancer, vaccines, antibiotics, as well as medications vital for heart disease, diabetes, physical pain, epilepsy, and injections.
The Drug Regulatory Authority of Pakistan (DRAP) had recommended adjustments for 262 drugs. However, the government chose to implement increases solely for 146 life-saving medicines.
Among the listed medications, 116 will see price adjustments initiated by pharmaceutical companies themselves.
In a noteworthy policy shift, the government has opted to deregulate drug prices, granting pharmaceutical companies autonomy to independently raise prices. This move marks a significant change in pharmaceutical pricing governance, potentially reshaping the healthcare industry’s dynamics.
As per the proposals, medicines not categorized as essential in the national list will be exempt from the Drugs Act of 1976, with necessary amendments to the Drug Pricing Policy 2018.
