An increase of more than 3% in the prices of life-saving medicines is expected, with drug prices likely to be adjusted in line with the inflation rate.
This year, inflation has been recorded at 4.49%, and medicine prices may be increased up to 70% of this rate. Prices of medicines under DRAP (Drug Regulatory Authority of Pakistan) control are expected to rise by up to 3.14%. The annual price hike is anticipated in August or September, and several pharmaceutical companies have already submitted applications to DRAP seeking price increases.
Regarding hardship cases, the Prime Minister has formed an inter-ministerial committee. Prices of certain medicines may be increased based on the committee’s recommendations. According to the Federal Health Minister, recommendations regarding the price hike will be sent to the Prime Minister within two weeks.
