ISLAMABAD: Ministry of National Health Services on Saturday said that the government has not approved any increase in the price of essential drugs for the pharmaceutical industry by September 30.
The spokesperson for the Ministry of National Health Services said that Drug Pricing Policy, 2018, granted the manufacturer with an annual right to automatically increase prices by 7 percent and 10 percent without the government’s right to intervene.
He said that the companies will not hike prices in the current financial year’s first quarter, adding that the decision was made to bring relief to the public amid the COVID-19 epidemic.
The spokesperson further said that the companies can raise the prices under the annual Consumer Price Index, lauding the decision by the pharmaceuticals against the price hike.
Meanwhile, Punjab Chemists and Drugs Association Chairman, Zahid Bakhtawari said that they had asked the government not to raise the prices, to which it concurred.
“The nation is in the grips of the COVID-19 (that’s why) pharmaceutical companies gave it due consideration,” Bakhtawari said.
In July, it emerged that the government had decided to abolish all sections of the drug pricing policy taking away the powers of pharmaceutical companies to increase drug prices on their own.
In line with the directives from Prime Minister Imran Khan, the government abolished all the sections of the policy, which clearly negates the Drugs Act, 1976.
The Prime Minister had directed a review of the pricing policy after the prices rose in the last 10 months.
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