Pakistan backtracks on uncapped prices for privately imported COVID shots

News Image

By MG News | March 19, 2021 at 10:38 AM GMT+05:00

0:00

March 19, 2021: Pakistan has reversed its decision to allow uncapped prices for COVID-19 vaccines imported by private firms, the health minister said on Thursday, a move that coincided with the arrival of the first shipment of privately imported Russian Sputnik V shots.

Pakistan, with a population of 220 million and largely reliant on the COVAX vaccine sharing initiative for poorer nations, last month allowed private firms to import coronavirus vaccines and agreed to exempt them from price caps.

"Now, however, there is a formula, already in vogue, to determine maximum price," minister Faisal Sultan told Reuters. "So yes, there is a price cap that DRAP (Drug Regulatory Authority of Pakistan) will recommend and get approval for."

An official with M/s AGP Ltd, the company that imported the Sputnik shots, said a first shipment of 50,000 doses arrived on Wednesday night and that it will be made available to the public as soon as the government agreed on a price.

The official spoke on condition of anonymity because he wasn't officially authorised to release the information.

Russian Direct Investment Fund (RDIF), responsible for marketing the Sputnik V vaccine abroad, confirmed to Reuters that a batch had been delivered to Pakistan.

The decision to allow commercial imports of vaccines with an exemption on upper price caps had sparked criticism that it would be unfair.

China's Sinopharm and CansinoBio, Sputnik V, and AstraZeneca vaccines are approved for emergency use in Pakistan, which hasn't secured any vaccine from manufacturing companies, relying so far on donations.

The country is vaccinating frontline health workers and older people with over 1 million doses of Sinopharm donated by longtime ally China.

Prime Minister Imran Khan, 68, got his COVID-19 vaccine on Thursday, said a video statement from his office that showed him getting the shot.

Pakistan is seeing a sharp increase in COVID cases. It has recorded 615,810 coronavirus infections and 13,717 deaths, with 3,495 cases and 61 deaths reported in the last 24 hours.

Reuters

Related News

Name Price/Vol %Chg/NChg
KSE100 131,949.07
198.95M
0.97%
1262.41
ALLSHR 82,069.26
730.83M
0.94%
764.01
KSE30 40,387.76
80.88M
1.11%
442.31
KMI30 191,376.82
77.76M
0.36%
678.77
KMIALLSHR 55,193.97
350.11M
0.22%
119.82
BKTi 35,828.25
28.42M
3.64%
1259.85
OGTi 28,446.34
6.84M
-1.02%
-293.01
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 108,125.00 110,525.00
107,865.00
-2290.00
-2.07%
BRENT CRUDE 68.51 68.89
67.75
-0.29
-0.42%
RICHARDS BAY COAL MONTHLY 97.50 0.00
0.00
0.75
0.78%
ROTTERDAM COAL MONTHLY 106.00 106.00
105.85
-2.20
-2.03%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 66.50 67.18
66.04
-0.50
-0.75%
SUGAR #11 WORLD 16.37 16.40
15.44
0.79
5.07%

Chart of the Day


Latest News
July 05, 2025 at 02:57 PM GMT+05:00

National Savings Schemes see over Rs27bn inflow in May


July 04, 2025 at 10:16 PM GMT+05:00

CAT upholds CCP’s ruling against PREMA Milk


July 04, 2025 at 10:07 PM GMT+05:00

Gold price in Pakistan falls Rs1,500 per tola


July 04, 2025 at 08:01 PM GMT+05:00

TRG in Supreme Court


July 04, 2025 at 06:41 PM GMT+05:00

Govt domestic debt, liabilities nears Rs54tr in May



Top 5 things to watch in this week

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