February 07, 2024 (MLN): The Federal Cabinet has approved the proposals regarding de-regulation of the prices of those medicines which are not included in the National List of Essential Medicines.

The decision was taken on the recommendation of the Ministry of National Health.

Under these proposals, prices of drugs other than essential drugs in the National List will be exempted from the Drugs Act, 1976 and necessary amendments will be made in the Drug Pricing Policy 2018.

Furthermore, the Pakistan Medical and Dental Council will ensure that doctors do not prescribe vitamins, multivitamins, minerals, and over-the-counter (OTC) products to patients.

The Drug Regulatory Authority will compile a list of vitamins, multivitamins, minerals and OTC products according to international standards and will also maintain communication with provincial governments regarding this matter.

The Federal Cabinet meeting was held yesterday in Islamabad, chaired by Caretaker Prime Minister Anwarul Haq Kakar.

Moreover, on the recommendation of the Ministry of Law and Justice and the proposal of the Chief Justice of Peshawar High Court, the Federal Cabinet approved the conversion of 4 out of 8 accountability courts in Peshawar into special courts.

Additionally, approval was given regarding the appointment of judges for these courts as per the recommendation of the Chief Justice of the Peshawar High Court.

The remaining courts will continue to function as accountability courts. These changes will not impose any additional burden on the national treasury.

The Federal Cabinet also approved the restructuring of Pakistan International Airlines (PIA) on the recommendation of the Privatization Division.

Taking into account international examples, a financial restructuring plan for PIA has been devised whereby PIA will be divided into two companies, TopCo and HoldCo. These measures will help attract capital investors to PIA.

The Federal Cabinet also directed the Cabinet Sub-Committee on Privatization to expedite matters related to the settlement of dues from government-owned institutions to PIA.

Furthermore, the cabinet also approved the privatization of First Women Bank Limited (FWBL).

The Government of Pakistan owned the majority shareholding (82.64%) in the bank, while the remaining shares are held by the five major commercial banks, namely NBP, HBL, MCB, UBL, and ABL.

Copyright Mettis Link News

Posted on: 2024-02-07T11:26:08+05:00