Prices of over a hundred commonly used medicines have surged by an average of 32% since February 2024, following the caretaker government’s decision to lift price controls under its deregulation policy.
The steep increase has triggered concern among officials and consumers alike, as authorities had expected deregulation to foster competition and lower prices, not drive them higher.
The sharp hikes were revealed in a national survey ordered by the prime minister after widespread complaints from citizens, hospitals, and provincial health departments about soaring drug costs.
Senator Amir Waliuddin Chishti, chairman of the Senate Standing Committee on National Health Services, said the health ministry and the Drug Regulatory Authority of Pakistan (DRAP) had confirmed the overall 32% rise since deregulation. In some cases, prices had doubled, while several others recorded 50% increases.
Senator Chishti said the committee would seek justifications from pharmaceutical companies where prices had risen by 50% or more, warning that any signs of cartelisation would be referred to the Competition Commission of Pakistan.
Officials noted that under the previous regulated system, medicine prices would have increased by only about 14% over two years.
