Islamabad: Citizens already struggling with inflation are now facing difficulties in buying medicines as the government has allowed an increase in prices ranging from 14 to 20 percent.
Under the chairmanship of Finance Minister Ishaq Dar, a meeting of the Economic Coordination Committee (ECC) of the Cabinet was held, in which approval was given to raise the prices of medicines from 14 to 20 percent. In addition, various transactions, including the purchase of wheat and expensive medicines, were discussed.
For once, ECC allowed an increase in the prices of medicines up to 14 to 20 percent. Essential and life-saving medicines were allowed to be increased by 70 percent proportionate to inflation, meaning the consumer price of these medicines could be increased by up to 14 percent.
Similarly, ordinary medicines were also allowed to be increased by 70 percent proportionate to inflation, but their price could not be increased by more than 20 percent.
ECC also approved a sum of Rs. 350 million for the establishment of passport processing centers in 30 administrative units across the country and for the reopening of the Roosevelt Hotel in the United States. A four-member committee was set up for negotiations with the New York City government. The announcement said that the committee would be headed by the Secretary, AV Division, and the hotel’s 1,025 rooms would be made operational again at a cost of $200 per day.
The meeting also decided to set targets for the purchase of wheat for the years 2022-23 for Sindh, Punjab, and Balochistan.
