Pakistan jacks up prices of lifesaving drugs amid rapid depreciation of national currency

In this file photo taken on March 28, 2019, worker sorts and arranges medicine packs at a pharmacy store in Peshawar. (Photo courtesy: REUTERS/File)
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Updated 10 February 2023
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Pakistan jacks up prices of lifesaving drugs amid rapid depreciation of national currency

  • The government increased the prices of 18 medicines, saying their rates were still the ‘lowest’ in the neighborhood
  • Pakistan faced shortage of medicines due to high cost of raw material that forced manufacturers to stop production

ISLAMABAD: The government fulfilled a major demand of pharmaceutical companies in Pakistan on Friday by increasing the rates of essential lifesaving drugs to ensure their market availability amid a rapid depreciation of national currency against the US dollar.

The country has been facing an acute shortage of medicines for about a year, as their manufacturers decided to stop their production due to the rising cost of raw material in the international market which was further exacerbated by the devaluation of Pakistani rupee.

The Economic Coordination Committee (ECC) of the Cabinet considered a summary from the Ministry of National Health Services, Regulations and Coordination and “allowed the fixation of Maximum Retail Prices (MRPs) of 18 new drugs as recommended by Drug Pricing Committee (DPC).”

“The prices of these 18 new drugs are at the lowest as compared to the prices of the same drugs in neighbouring countries, especially in India,” the ECC, a top federal body mandated to take economic decisions, said in a statement on Friday.

The committee also approved an increase in the prices of paracetamol products and fixed the rate of its 500-mg plain and extra tablet at Rs2.67 and Rs3.32, respectively.

The paracetamol products have been in short supply across Pakistan since the beginning of the coronavirus pandemic in 2020. Last year, this shortfall worsened due to the devastating floods.

Approving another summary, the committee also reduced the prices of another 20 drugs without specifying their names.

An official of the ministry said these medicines were used to treat typhoid, malaria, depression, fever, kidney diseases, infertility, tuberculosis and ulcer.

The Pakistan Pharmaceutical Manufacturers Association last week threatened to stop supplying medicines if the prices of the drugs were not increased within seven days. The manufacturers said they required the federal government’s approval to jack up the prices since they could not revise them on their own.

The association’s chairman, Syed Farooq could not be reached for a comment since he was “out of Karachi.”

Pakistan imports an estimated 95 percent of its pharmaceutical raw materials from China. The country’s direct trade with India has remained suspended since August 5, 2019, when the administration in New Delhi revoked the special constitutional status of the disputed Kashmir region. However, Islamabad is still importing pharmaceutical raw material from the neighboring state via Dubai.


Karachi mayor says city focused on rescue, identification after mall fire kills 67 

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Karachi mayor says city focused on rescue, identification after mall fire kills 67 

  • Blaze broke out on Jan. 17 at Gul Plaza, trapping workers and shoppers inside and burning for more than 24 hours 
  • Authorities say identification has been significantly slowed by the condition of the bodies recovered from the site

ISLAMABAD: Authorities in Karachi are focused on ongoing rescue operations and the identification of victims and handover of remains to families, the city’s mayor said on Friday, after a deadly fire at a shopping plaza killed at least 67 people this month.

The blaze broke out on Jan. 17 at Gul Plaza, a densely packed commercial building in the heart of the city, trapping workers and shoppers inside and burning for more than 24 hours before being brought under control. Recovery operations are still underway as teams sift through unstable debris at the site.

Karachi Mayor Murtaza Wahab said in a statement the city administration remained focused on retrieving remains and returning them to families as quickly as possible. His remarks came after he visited the homes of several victims, according to a statement from his office.

“Rescue personnel of the Karachi Metropolitan Corporation are still engaged in the rescue operation, while the administration is making every effort to hand over [remains] of the victims, loved ones to their families at the earliest,” Wahab was quoted as saying.

Identification has been complicated by the condition of the remains, Karachi Police Surgeon Dr. Summaiya Syed told reporters.

Most of the bodies recovered so far were discovered in fragments, she said, making forensic identification extremely difficult and prolonging the process for families waiting for confirmation.

Relatives of more than a dozen missing persons have remained near the destroyed plaza and at hospitals even after submitting DNA samples for testing. Some families have voiced frustration over the pace of recovery and identification efforts.

Wahab said the provincial government stood with affected families and had committed to long-term support.

“The Sindh government would also not sit back until the victims are fully rehabilitated and that all possible support would be provided [to them],” he said.

Authorities have yet to determine the cause of the fire. Police have said preliminary indications point to a possible electrical short circuit in the plaza which houses over 1,200 shops, though officials stress that conclusions will only be drawn after investigations are completed.

Deadly fires are a recurring problem in Karachi, a city of more than 20 million people, where overcrowded markets, aging infrastructure, illegal construction and weak enforcement of safety regulations frequently contribute to disasters. 

Officials say a blaze of this scale is rare.

The Sindh government has announced compensation of Rs10 million ($35,720) for each person killed in the fire and said all affected shopkeepers would also be compensated.