Govt approves up to 10 percent increase in drug prices

News Image

MG News | August 24, 2020 at 12:10 PM GMT+05:00

August 24, 2020 (MLN): The Ministry of National Health Services Regulation and Coordination allowed pharmaceutical companies to increase prices of medicines up to 10%.

However, according to the statement issued by the Ministry of NHSRC on Saturday, the pharmaceutical companies have decided not to raise drug prices in the first quarter of FY21 to support the government’s move to provide relief to people affected by the pandemic.

Earlier, the government took proactive measures to keep prices stable by negotiating with the pharmaceutical industry to lessen the burden on people amid the COVID-19 pandemic.

Under the Drug Pricing Policy 2018, it is worth mentioning that pharmaceutical companies can raise prices of life-saving drugs by 7% and non-essential drugs by 10% in line with the Consumer Price Index (CPI).

In order to provide a relief to people, the government appreciated and commended the decision of the pharmaceutical companies. Moreover, the ministry stated that all drug prices will remain available at old prices in the first quarter of the current fiscal year.

The ministry issued a notification last month (July) to revise the prices of essential and non-essential drugs following the approval of the Drug Regulatory Authority of Pakistan, but due to the spread of the coronavirus, the matter remained under discussion with pharmaceutical companies.

Copyright Mettis Link News

 

Related News

Name Price/Vol %Chg/NChg
KSE100 171,153.17
162.52M
0.16%
268.58
ALLSHR 103,477.03
691.59M
0.17%
179.80
KSE30 50,901.99
58.56M
0.04%
18.99
KMI30 243,765.66
75.35M
0.26%
626.41
KMIALLSHR 67,087.03
368.61M
0.16%
107.81
BKTi 47,614.72
15.03M
-0.06%
-27.39
OGTi 34,853.92
4.57M
-0.80%
-282.58
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 85,450.00 85,890.00
80,410.00
4120.00
5.07%
BRENT CRUDE 100.10 104.90
99.88
-3.77
-3.63%
RICHARDS BAY COAL MONTHLY 130.00 0.00
0.00
6.10
4.92%
ROTTERDAM COAL MONTHLY 138.50 0.00
0.00
1.45
1.06%
USD RBD PALM OLEIN 1,228.00 1,228.00
1,228.00
0.00
0.00%
CRUDE OIL - WTI 92.13 97.22
92.00
-3.95
-4.11%
SUGAR #11 WORLD 18.57 18.60
18.15
0.33
1.81%

Chart of the Day


Latest News
September 21, 2026 at 04:52 PM GMT+05:00

Auto assemblers accelerate profit growth in FY26


September 21, 2026 at 04:25 PM GMT+05:00

Pakistan set to receive second Qatari LNG cargo in September


September 21, 2026 at 04:03 PM GMT+05:00

PSX Closing Bell: A Mild Upswing


September 21, 2026 at 03:53 PM GMT+05:00

Bitcoin closes in on $85,000 as bears get forced out



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg