The Pakistan Pharmaceutical Manufacturers’ Association (PPMA), the representative body of pharma companies, has decided to halt production citing the unavailability of raw material and delay in their cases seeking price hike.
Pharmaceutical businesses stated in a letter to the Drug Regulatory Authority of Pakistan (DRAP) that they will cease production in a week owing to a lack of raw materials.
Citing the increasing rate of the dollar, the pharmaceutical companies said they cannot sell the medicines at the DRAP’s rate as the cost of doing business and raw materials has increased.
The prices of medicines in Pakistan are regulated by DRAP, which means pharmaceutical companies cannot increase rates unless the authority gives them a go ahead. At present, the country is facing a shortage of several medicines including the ones used to treat fever.
The Pakistan Pharmaceutical Manufacturers Association had requested an overall price rise of 28.5%.
The government, according to the health ministry, would ensure that there was no medication scarcity in the country.
The pharmaceutical sector issued a warning earlier in January that the crisis of the medicine shortage is likely to get worse as pharmaceutical companies run out of raw materials.
