7% to 10% increase in prices of medicines

Expensive medicines will get out of the reach of poor masses

The Drug Regulatory Authority of Pakistan (DRAP) has approved a 7% hike in the price of essential drugs/biologicals and a 10% increase in other medicines. DRAP has issued the notification of this increase today July 18. 
This decision to increase the prices came at a time when the people are feeling the impact of soaring inflation. Prices of food items and other products are already on the rise. The sugar price has gone up to RS 90 per kg. The falling incomes will make it difficult for low wage workers and pensioners to buy medicines. 
"Manufacturers and importers may increase their existing MRP's of essential drugs/biologicals (excluding lower-priced) equal to 70% increase in CPI (with a cap of 7%) and MRPs of all other drugs/biologicals and lower-priced drugs up to increase in CPI (with a cap of 10%) subject to conditions," read the notification.
DRAP further stated that the calculations of the revised Maximum Retail Price (MRP) of the medicines will have to be submitted by the concerned manufacturer or importer, signed and stamped by the Managing Director, Managing Partner or CEO or any other authorised person.
"Evidence for the authenticity of existing MRPs to the Authority (Division of Costing and Pricing) Calculations of revised MRPs, duly signed and stamped by the Managing Director or Managing Partner or CEO or any authorized person on his behalf, shall be submitted," the notification further added.
The government had allowed a 5.14% increase in prices of essential medicines and biologicals whereas it had allowed a 7.3410% increase in prices of other medicines.
                                                        Rukhsana Manzoor Deputy Editor

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