ISLAMABAD: The federal government has decided to introduce a comprehensive drug pricing policy and mechanism to rationalize the prices of life-saving medicines.
Talking to journalists here, Minister for National Regulations and Services, Dr. Firdous Ashiq Awan on Wednesday said that prices of 92 medicines has been reduced substantially even to the extent of 400 per cent in some cases. The formal notification to this effect has been issued, she added.
She said the drug regulation Authority ordinance has been amended in consultation with the stakeholders and has been forwarded to the relevant house committee, which will be presented in the next session to make it a law.
Dr. Firdous warned to launch crackdown within a week on medical stores selling substandard, spurious and fake drugs in Federal Capital and asked the provinces to follow the Center.
She added it is responsibility of the provinces to ensure that no fake or spurious drug is being sold there. She said that another reason to launch crackdown was to ensure that 92 drugs, whose prices have been reduced are being sold at the cut prices.
She said that Drug Regulatory Authority (DRA) is the prime regulator to fix prices of the medicines. She said that necessary amendments have been made in consultation with all stakeholders to enforce Drug Act after approval from the Parliament.
She said that necessary changes have been made in the Drug Act 1997 and the bill would be tabled and passed during the upcoming session. She was of the view that comprehensive legislation was vital for cheaper and standard medicines.
She warned of stern action against those companies, which have not reduced prices of the medicines. She warned of dire consequences to those companies, which will not obey the orders of Regulator.
The minister said that hepatitis was still a big challenge for the country and asked the generic and local companies to reduce prices of medicines used for the treatment of this fatal disease.
She said that investment friendly policies are being introduced to fetch foreign investment in pharmaceutical sector. She was optimistic that investment in this sector would generate job opportunities for Pakistanis.
She said Pakistan Medical and Dental Council (PMDC) was heading towards legislation for revival of the institutions and added it has been decided to register herbal medicines to ensure that no spurious or fake herbal medicine is being sold at the medical stores.
She said it has been decided to upgrade drug testing lab and PC-I has been approved. She said Rs 215 million has been sought from Planning Commission for the project.
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