How ironic it is that the pharmaceutical sector of Pakistan considers a 20 percent hike in the prices of essential drugs too little or too small. Rejecting the government move of raising drug prices through Economic Coordination Committee (ECC) of the Cabinet the other day, the drug manufacturers have demanded the government give them a 40 percent hike in accordance with the inflation rate.
It is however important to note that a number of drug-making companies had stopped producing certain essential and non-essential drugs to the sheer chagrin or discomfort of people many months ago.
This has allowed the unscrupulous people to hoard such drugs and sale them on exorbitant rates in black market. These companies had cited import restrictions as a reason that had caused a huge impediment to their ability to import raw materials and active ingredients to produce the much-needed drugs that had completely disappeared from the shelves of medical stores.
It is quite true that import curbs have adversely affected manufacturing sector in a big way. But the pharma sector’s questionable approach to import curbs has added to the human misery, so to speak.
Be that as it may, the 20 percent hike in drug prices is already quite significant or big. Rejecting this raise and demanding a much higher increase in drug prices is a step aimed at exerting udue pressure on the government. In my view, the relevant authorities must not succumb to such tactics in the larger interest of ailing people in particular.
Hammad Tahir (Lahore)
Copyright Business Recorder, 2023
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