950822

Govt devises

formula to

control increase

in drug prices

ISLAMABAD: The National Assembly was informed Tuesday that the government has devised a formula to have a controlled increase in the prices of medicines so that it is not a burden on the masses.

This was stated by Shah Mahmood Qureshi, Minister Incharge of Health while replying to a call attention notice by Ejaz Ahmed, Raja Muhammad Afzal and Rashid Akbar Khan.

The movers were concerned about the increase of 10 to 30 percent in prices of drugs.

Qureshi said the decision of deregulating and decontrolling the prices of drugs was taken by the previous government after taking into consideration the recommendations of a number of committees.

The decontrol of the prices of pharmaceutical products resulted in the escalation of prices of the medicines.

Apart from the prices of 21 life-saving drugs the prices of other medicines could not be controlled.

An informal agreement was signed not to increase prices more than 20 percent. The present government took notice of the issue and freezed the prices so as not to affect the consumers.

He said, the pharmaceutical companies have their own problems and say that the prices of raw material has grown due to international prices, charges of utilities and labour. They say their cost of production has risen and cannot do without rising the prices of medicines.

He said, since life-saving drugs are also involved, therefore government had to give some consideration. A formula has been devised in this regard to have a controlled increase in the prices, he added.-APP