Rupee devaluation amongst main reasons for increase in drug prices

MG News | January 31, 2020 at 04:01 PM GMT+05:00

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January 31, 2020: Devaluation of Pak rupee, increase in raw material, manufacturing, electricity, gas and labor cost were the main reasons behind the increase in drug prices in the country, Minister for Parliamentary Affairs Azam Swati told Senate on Friday.

Replying to a question, he said the increase in the retail prices of drugs was linked with Consumer Price Index (CPI) under drug policy 2015-18.

He said the drug pricing policy 2018 provided a transparent mechanism for fixation, decrease and increase in maximum retail prices of drugs.

The government has decreased maximum retail prices of 395 drugs in 2018 and 78 drugs in May 2019. Maximum retail prices of 89 originator brands had also been reduced in 2018.

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