Mansoor Sadiq

The government is likely to raise the prices of life-saving drugs as pharmaceutical manufacturers have expressed inability to continue their operations owing to increased production costs, shortage of raw material and depreciation of rupee against dollar. A senior official of Drug Regulatory Authority Pakistan (DRAP) told WealthPK that pharmaceutical manufacturers are facing acute shortage of raw material with subsequent issues of raised production costs following the import constraints. He said the profit margin of pharmaceutical manufacturers has reduced substantially. He said a considerable increase in the prices of medicines has become inevitable as the pharmaceutical manufacturers are unable to continue with old prices in the current situation.

Senior Vice Chairman of Pakistan Pharmaceutical Manufacturers Association (PPMA) Nadeem Zafar said while talking to WealthPK that the PPMA had written a letter to the government to increase the prices of medicines. It has forewarned the government that the PPMA can’t afford to continue production of medicines without an increase in prices.

Zafar said the pharmaceutical sector is facing acute shortage of raw material and increased production costs following the depreciation of rupee and skyrocketed prices of other ingredients. Zafar said that a meeting of the PPMA North and South Zones was held on Monday, 06-02-2023, which demanded the government raise the prices of medicines. He said the PPMA would have to halt production of medicines all over the country if the prices were not increased immediately.

Meanwhile, the PPMA Chiarman Qazi Dilawar said that about 100-150 pharmaceutical companies had already closed production in the country as they were unable to continue operations owing to increased cost of production. It has added to the uncertain situation in the country and it is feared that life-saving drugs might be in short supply if the issue was not addressed on a priority basis.

The Drug Control Wing of the Punjab Health Ministry has been playing a proactive role in addressing the artificial shortage of life-saving drugs. It has directed the pharmaceutical manufacturers and medicine distributors to ensure the availability of medicines without any constraint. Pharmacists have also been instructed not to make hoardings of medicines. Drug inspectors in 41 districts of Punjab are making visits at outlets of pharmacists, and wholesale distributors are directed to ensure the availability of all the medicines.

Credit: Independent News Pakistan-WealthPk