ECC denies pharma demand for price hike, medicine shortage looms
March 27, 2023
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March 27, 2023 (MLN): The Economic Coordination Committee (ECC) of the Cabinet has once again held the pharmaceutical industry's demand for increasing the prices of medicines which will likely create another round of medicine shortage as the devaluation of currency and inflation spiked the cost of production.
The industry is asking for an across-the-board increase in prices on the basis of high inflation and unprecedented devaluation.
Despite asking for an across-the-board increase in prices on the basis of soaring input costs, the ECC, chaired by Finance and Revenue Minister Senator Mohammad Ishaq Dar, has deferred the Ministry of National Health Services, Regulations, and Coordination's proposals for fixing the Maximum Retail Price (MPR) of 54 new drugs and increasing the prices of 119 drugs.
In addition, the ECC also discussed a summary presented by the Ministry of National Health Services, Regulations and Coordination on the maximum retail price of Remdesivir 100 mg injection.
The committee decided not to increase the price of the injection, and the existing MRP of Rs. 1892/vial shall remain fixed.