*ISLAMABAD: The Drug Regulatory Authority of Pakistan (DRAP) on Fridayannounced to hike prices of medicines by up to 15 per cent.*
A spokesperson for DRAP termed the hike to be in larger interest of thecountry and patients.
He said the increase in medicine prices was inevitable owing to variousreasons. “The dollar increased by 30 per cent over the last year, which ledto an increase in prices of raw material and packaging.”
Besides, the spokesperson said, the increase in gas and electricity prices,employees’ salaries and additional duty put extra burden on thepharmaceutical industry. The prices had to be revised to keep up with thecost incurred on the manufacturing of medicines, he added.
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“In exercise of the powers conferred by clause (a) of section 7 of the DrugRegulatory Authority of Pakistan Act, 2012 (XXI of 2012) read with section12 of the Drugs Act.1976 (XXX of 1976), the Drug Regulatory Authority ofPakistan with the approval of the Federal Government is please to fixmaximum retail prices of drugs subject to the conditions specifies below,”states a notification issued by DRAP.
“Maximum prices of drugs may be increased under paragraph 12(*) of the DrugPricing Policy, 2018, namely: (a) Nine per cent over and above the maximumretail prices as determined under hardship category during the year 2018.(b) Fifteen percent over and above existing maximum retail pricesdetermined under Drug Pricing Policy, 2018 for drugs other than thosespecified in clause (a),” reads the notification.
