The Federal Health Ministry, after a gap of 7 years, granted permission to local pharmaceutical companies to make an upward revision in the prices from 7 to 20 percent on 240 locally manufactured drugs. The increase came into affect after persistence appeal by the Pakistan Pharmaceutical Manufacturers Association (PPMA).
An official of the PPMA informed that increase in rates of 240 locally manufactured medicines out of total 47,000 produced in the country was necessary, as their cost of manufacturing had exceeded, prices making it virtually impossible for the related pharmaceutical companies to produce them. As a result, shortage of these medicines caused immense hardship for a large number of patients.
Federal Secretary Health and DG Health also attended the meeting besides other high officials of the health department. Members of the delegation informed the minister about static rates of medicines during the last 7 years despite steep rise in inflation, devaluation of the Pakistani rupee and increase in the input price of the pharmaceutical sector, which forced the industry to face worst ever crises.
Massive increase in raw and packaging material rates, majority of which was imported from abroad for catering to the requirement of indigenous industry was also brought to the notice of the minister.
However, despite presentation of all facts and figures, response of the Federal Minister was unfavourable as he failed to give patient hearing to the problems faced by the pharmaceutical industry in the country. He told them plainly that the government would not hesitate importing medicines from India if the local pharmaceutical industry shuts down their businesses.