This Is Why Medicine Prices Have Been Remarkably Increased In Pakistan

(@mahnoorsheikh03)

This is why medicine prices have been remarkably increased in Pakistan

Media reports revealed some influential mafia to have been involved in increasing the medicine prices in the country.

Islamabad (UrduPoint / Pakistan Point News – 14th January, 2019) The Drug Regulatory Authority of Pakistan (DRAP) had issued a notification to increase the prices of different medicines from 9 to 15 percent.

However, the reason for this hike in medicine prices has been revealed.

Media reports revealed some influential mafia to have been involved in increasing the medicine prices in the country.

Sources said that the prices of locally produced medicines were increased.

The reports revealed that there are 45 such politicians and lawmakers who own the drug manufacturing companies.

Moreover, 23 percent companies belong to the owners of private hospitals or doctors appointed on key positions in the hospitals and their close aides.

An artificial shortage was created before increasing the prices of medicines.

The DRAP had on January 11 notified the increase of up to 15 percent in the price of medicines across the country with the approval of the Federal government.

In a statement issued, the authority notified a 9 percent increase in the retail price of life-saving drugs and 15 percent in the retail price of other medicines.

The increase, in the prices of 898 branded and 123 solid drugs, takes effect from January 1, the notification said.

The price hike would impact the rate of some 24,000 medicines, including the life-savings drugs.

There were several reasons for the price hike, including devaluation of the rupee against the dollar during last one year, which in turn increased the cost of raw materials and packaging materials.

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