The government ordered to increase the price of paracetamol as the manufacturers demand for it due to shortage of raw material and increase in importing cost of raw material.
The Drug Pricing Committee (DPC) notified minister of health to prepare the summary for new increased prices. Ministry of Health prepared the increased pricing list which will be approved in Economic Coordination Committee (ECC).
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Increase in prices
According to the details written in summary, the price of paracetamol 120 ml syrup is increased by Rs 12 and new price will be Rs 117. The Health ministry also increased the 500 mg paracetamol tablet price after which the new price will be Rs 2.67.
It is to be mentioned here that last month pharmaceutical companies threatened government for countrywide protest and closure of pharmacies to which Ministry of Health and Drug regulatory authority (DRAP) increased the retail prices of medicines to 350%.
The Health Ministry after finalizing the prices, sent it to the federal cabinet of 119 members where they will review the increase of 350 percent in prices. The increase in prices of tablets include medicine of typhoid, malaria, colds and other diseases.
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The pharmaceutical companies also asked for halt of production of medicines within country as the rate of dollar is increasing day by day and so as the raw materials cost. With the current financial situation of country, the industries are facing shortage of raw material and increase in dollar rate is also increasing the cost of imported products.
This worse situation can only be handled with proper economy plans. The government of Pakistan is dealing with IMF for ease in funds to stabilize the economy of Pakistan.