In a letter to the Pakistani government, Pakistan Pharmaceutical Manufacturers Association has demanded an increase in medicine prices, adding that all the factories across the country would be closed if the government does not increase the prices in a week.
In a week’s time, Pakistan might run out of essential medicines as 40 pharmaceutical companies have stated that the are unable to continue production due to lack of raw material and delay in their cases seeking price increase.
The Pakistan Pharmaceutical Manufacturers Association (PPMA) has given a one-week ultimatum to the Shehbaz Sharif-led government and said that it would close factories across the country if their demands are not met.
On the other hand, Pakistan’s health ministry has assured that it would make sure there was no shortage of medicines in the country, Dawn reported.
In a letter to Ministers of Finance and Health, and the Drug Regulatory Authority of Pakistan (DRAP), PPMA has demanded an increase in medicine prices. It added that all the factories across the country would be closed if the government did not increase the prices “in a week”.
Furthermore, it was stated that courts had not made decisions in their cases requesting price increases under the “hardship category.” If production costs exceed the maximum sale price, businesses may pursue legal actions to raise prices under the hardship category, reports said.
PPMA chairman Syed Farooq Bukhari said the association had demanded a 28.5 per cent across-the-board increase in prices. “In 2018, one US dollar was of around Rs140 but now, due to depreciation of rupee, that value has increased to around Rs270.
Because of this situation 40 companies have written letters to the health ministry and Drap that they will not be able to continue production of medicines (after) one week,” Dawn quoted Bukhari as saying.