Govt plans Panadol price rise; manufacturers seek hike due to costs.
The price rise translates into a 25.6% increase in Panadol drug prices and a 12% increase in Panadol syrup pricing.
The federal cabinet’s Economic Coordination Committee (ECC) meeting will take place today, with Finance Minister Ishaq Dar serving as chair.
According to reports,
The agenda will be presented at the meeting
On Tuesday, the ECC suppose to convene, The ECC meeting canceled because the Minister is too busy meeting with the IMF delegation that’s in Pakistan for the ninth review of its loan program.
The federal government has the authority to determine drug pricing under Section 12 of the Drugs Act of 1976 and Section 7 of the Drug Regulatory Authority of Pakistan (DRAP) Act of 2012.
Moreover, the Medicine Pricing Policy 2018—which was updated in July 2020—lays out the rules for evaluating drug prices.
The federal government receives medicine price recommendations from DRAP’s Drug Pricing Committee (DPC).
The DPC had advised the ECC to raise the cost of six medications, including Paracetamol, between January and September of last year.