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ECC to discuss price hike of over 141 drugs tomorrow

ISLAMABAD (Eshfak Mughal):- The Economic Coordination Committee (ECC) of the Cabinet to discuss the price hike of paracetamol and other 141 drugs on the recommendation of Drug Pricing Committee.

Sources told the scribe that the ECC will meet tomorrow under the chairmanship of Finance Minister Ishaq Dar to discuss the 10 point agenda in Islamabad.

The committee will discuss the increase the proposal for increase in in maximum retail price of Paracetamol, fixation of maximum retail prices of 18 new drugs as recommended by the Drug Pricing Committee in its 53th meeting on 27th to 29th Dec 2022.

The ECC also discuss the proposal of increase in Maximum Retail Price of 119 drugs as under Hardship Catagorya as recommended by Drug Pricing Committee in its 53rd meeting on the summary presented by National Health Services. The meeting will also discuss on the summary of National Health Services for increasing in Maximum Retail Prices of four drugs under Hardship Catagory as recommended by Drug Pricing Committee in its 52nd meeting.

It is pertinent to mention here that Pakistan Pharmaceutical Manufacturers were pressing the government to increase the prices of drugs otherwise they have no option but shutdown the businesses. They added that the their business is no more viable due to free fall of currency devaluation as they import costly raw material. At domestic side, they believe that the salaries and utility bills has been increased during last two years.

The ECC will also discuss a proposal regarding the reduction in Maximum Retail Prices of 20 Drugs as recommended by Drug Pricing Committee in its 53rd meeting.

The ECC will approve and recommend to the Federal Cabinet for final approval which meets under the Chairmanship of Prime Minister almost on every week.

The committee will also discuss the summary of Kamyab Pakistan Program, wheat subsidy issue in Gilgit Baltistan, provision of Funds through Technical Supplementary grant in R/O Prime Minister’s Office (Internal) undder Grant no 10 and declaration of Commerciality, approved of Field Development Plan and Grant of Development and Production Lease Over Jugan Field (Latif Block).

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