The government has allowed a 7 to 10 percent increase in pharmaceutical prices, it was learned on Saturday.

According to a notification issued by the Drug Regulatory Authority of Pakistan (DRAP), the increase in drug prices has been allowed under the Consumer Price Index. As per the statement, DRAP approved an amendment to the formal drug pricing policy in this regard, which was recommended by the federation and DRAP's policy board.

According to the DRAP announcement, pharmaceutical companies and importers were allowed to increase the prices of lifesaving medicines by 7pc while the prices of other medicines by 10pc.

The notification said that last year, the prices of basic medicines were allowed to increase by 5.14pc and other medicines by 7.34pc.

According to the DRAP declaration, all pharmaceutical companies and importers will be required to submit all evidence of price increase of any drug with the signatures of the CEO of the company to DRAP.