ECC approves increase in prices of 49 drugs

June 05, 2023 (MLN): To ensure the smooth supply of drugs in the market, the Economic Coordination Committee (ECC) of the Cabinet on Monday allowed to increase the prices of 49 drugs on the basis of being lower as compared to their prices in the neighboring countries.

Earlier on April 28, 2023, the committee allowed manufacturers and importers to increase their existing maximum retail prices (MRPs) of essential drugs equal to a 70% increase in CPI ( with a cap of 14% ) and MRPs of all other drugs and lower priced drugs an increase up to 70% in CPI (with a cap of 20%).

This is on the basis of the average CPI for the current year i-e July 01, 2022, to April 01, 2023, with the condition that it should be considered as an annual increase for the financial year 2023-24 and no increase under this category will be granted in next financial year.

in addition, the committee also accorded approval for the issuance of the government's guarantee amounting to Rs9.5 billion for the Hyderabad-Sukkur motorway. 

Furthermore, the ECC approved Rs12bn for  NDMA for the procurement of relief items to restock/replenish its reserves.

The ECC also approved the following Supplementary and Technical Supplementary Grants: 

1. Rs839.12mn in favor of the project titled “New Gwadar International Airport (NIGA) of Ministry of Aviation. 
2. Rs120.45mn TSG in favor of Establishment Division.
3. Rs140.5mn in favor of Establishment Division for Payment to Govt. Departments for Services Rendered from various sources. 
4. Rs116.49mn in favor of the Ministry of Human Rights. 
5. Rs700mn in favor of the Ministry of Information and Broadcasting.
6. Rs48mn in favor of the Ministry of Interior for construction of FATA Levies Centre at Shakas Peshawar. 
7. Rs470.82mn in favor of the Ministry of Interior for the payment of troops cost/subsistence allowance to personnel of Civil Armed Forces deployed in UN Peacekeeping Missions.
8. Rs66.336mn for the construction of Frontier Constabulary Training Center, Michni, Khyber Pakhtunkhwa.
9. Rs347.9mn in favor of the Ministry of Interior to complete the raising process of the 6th Battalion of Pakistan Post Guards for anti-smuggling purposes.
10. Rs49.5mn in favor of the Ministry of Interior for further disbursement of the amount as financial assistance for the families of Shuhada and injured persons in the Swat terrorism incident.
11. Rs9.14bn in favor of Power Division for the execution of 2x660 MW Coal-fired Power project Jamshoro.
12. Rs48.429mn in favor of the Ministry of Parliamentary Affairs.
13. Rs110.65mn in favor of the National Counter Terrorism Authority.

Federal Minister for Finance and Revenue Senator Mohammad Ishaq Dar chaired the said meeting.