Hike in drug prices essential owing to rise in dollar's value: Aamir Kayani

ISLAMABAD: Federal Minister for Health Services Aamir Mehmood Kayani on Sunday asserted that hike in drug prices was essential due to recent increase in the value of dollar.

Talking to journalist, Aamir Mehmood Kayani said that increase in prices of medicine was also essential for the survival of the pharmaceutical industry in the country.

He was of the view that textile industry had been shifted to Bangladesh due to inappropriate policies of the previous governments. Kayani said that the pharmaceutical industry was facing immense pressure due to the rupee’s devaluation.

The minister said that they would establish new ward in Holy Family Hospital and added that a new shelter home would also be established for the hospital.

Earlier, the Drug Regulatory Authority of Pakistan (DRAP) January 11 had announced to hike prices of medicines by up to 15 per cent.

A spokesperson for DRAP had termed the hike to be in larger interest of the country and patients.

He said the increase in medicine prices was inevitable owing to various reasons. “The dollar increased by 30 per cent over the last year, which led to an increase in prices of raw material and packaging.”

Besides, the spokesperson had said, the increase in gas and electricity prices, employees’ salaries and additional duty put extra burden on the pharmaceutical industry. The prices had to be revised to keep up with the cost incurred on the manufacturing of medicines, he added.