Rupee devaluation, main reasons of drug prices increase, Senate told
ISLAMABAD: The devaluation of Pak rupee, increase in raw material, manufacturing, electricity, gas and labour cost was the main reasons behind increase in drug prices in the country, Minister for Parliamentary Affairs Azam Swati told Senate on Friday.
Replying to the question of Senator Mushtaq Ahmed, 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.
Drug Regulatory Authority of Pakistan (DRAP) controlled prices of drugs in the country, he added. - APP