New notification issued for increase in prices of medicines

Islamabad: The government has allowed a 20% increase in the prices of medicines. A notification has been issued, authorizing a 14% to 20% increase in the prices of life-saving drugs.

The approval for the price hike was granted by the Federal Cabinet’s committee on April 14, with the rising value of the dollar being cited as the reason for the increase.

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According to details, the Drug Regulatory Authority of Pakistan (DRAP) has issued a notification regarding the increase in prices of medicines.

As per the issued notification, the prices of life-saving drugs can be increased by 14%, while the prices of all other medicines can be increased by 20%.

The notification states that the policy board of DRAP will review the prices after a period of three months. In this regard, it is stated by the authorities that if there is a decrease in the value of the dollar, the prices of medicines can also be reduced.

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It should be noted that the approval for the price hike was given by the Federal Cabinet’s Economic Advisory Committee.

Abdul Rehman

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