Federal cabinet approves 15% cut in medicine prices

ISLAMABAD: The federal cabinet on Tuesday gave the nod of approval to a 15% cut in the prices of 89 essential and life-saving medicines with immediate effect – offering some relief to the people reeling under the burden of the price hike of drugs approved by the government earlier this year, ET reported.

In addition, the cabinet also unanimously decided not to remove the name of PML-N Vice President Maryam Nawaz from the no-fly list, endorsing the recommendations of a subcommittee of the interior ministry which was directed by the Lahore High Court to decide the matter.

“Many of these medicines [whose prices are being decreased] are used in treating heart diseases and blood pressure,” Special Assistant to the Prime Minister on Health Services Dr Zafar Mirza told the media after the cabinet meeting.

“They were on the list of essential medicines whose prices had to be decreased by 10% annually for three years under the Medicine Pricing Policy 2018,” he added. “Keeping all the factors in view, we have obtained the government’s approval to cut the prices of essential medicines by 15%.”

The PM’s aide explained that the government had to increase the prices of medicines by 15% earlier this year because of the devaluation of the rupee.

“The prime minister has instructed that the Medicine Pricing Policy be reviewed within two months to facilitate the people,” he said. “The ministry is in the last stages of formulating a national medicine policy for the pharmaceutical sector, which will be announced in the coming weeks.”

In April this year, the prices of medicines were increased by up to 400%. This prompted the prime minister to order the reduction of the prices within 72 hours. Aamer Mehmood Kiani, the then national health services minister, was sacked and Dr Mirza was appointed PM’s special assistant on health.

In May, Dr Mirza announced that after meetings with representatives of the pharmaceutical industry, it had been decided that the increase in the prices of medicines would not exceed 75%.

Bookmark the permalink.

One Comment

  1. Wonderful web site. Plenty of helpful info here. I am sending it to a few buddies ans also sharing in delicious. And obviously, thanks on your effort!

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

  • RSS Newsnreleases

    • C. Hunter becomes CEO of HomeTrust Bank, President of HomeTrust Bancshares 27-Jul-2021
      ASHEVILLE: HomeTrust Bancshares Inc., the holding company of HomeTrust Bank, announced that C. Hunter Westbrook will assume the positions of... Continue reading The post C. Hunter becomes CEO of HomeTrust Bank, President of HomeTrust Bancshares appeared first on NewsnReleases.
    • Blackwood Partners and Nicola Wealth acquire another industrial land 27-Jul-2021
      TORONTO, ONTARIO: Blackwood Partners and Nicola Wealth Real Estate (NWRE) acquired a 34-acre industrial development site located in Grimsby, southwest... Continue reading The post Blackwood Partners and Nicola Wealth acquire another industrial land appeared first on NewsnReleases.
    • Neles to acquire Flowrox for Eur 40.9 million 27-Jul-2021
      HELSINKI, FINLAND: Neles has signed an asset purchase agreement to acquire the valve and pump businesses of the Finland-based technology... Continue reading The post Neles to acquire Flowrox for Eur 40.9 million appeared first on NewsnReleases.
    • Beatrice Mary Nicholas appointed non-executive director at Cohort Plc 27-Jul-2021
      LONDON, UK: Cohort Plc, the independent technology group, announced the appointment of Beatrice Mary Nicholas as a non-executive director, with... Continue reading The post Beatrice Mary Nicholas appointed non-executive director at Cohort Plc appeared first on NewsnReleases.
    • Stephen Birrell joins Live Company Group board 27-Jul-2021
      LONDON, UK: Live Company Group plc has appointed Stephen Birrell as an independent Non-Executive Director with immediate effect, a news... Continue reading The post Stephen Birrell joins Live Company Group board appeared first on NewsnReleases.