Medicine prices jacked up by 14.15pc in Pakistan: Report

Islamabad: The prices of medicine have increased by 14.15 percent in Pakistan, ARY News reported quoting an official report.

According to a recent report, the prices of medicines have seen a significant surge, with an annual increase of 14.15 percent recorded.

The report stated that health facilities have become 15.22 percent more expensive, making it difficult for people to afford medical treatment.

Additionally, doctor’s fees have risen by 18.76 percent within a year, adding to the financial burden on patients.

The prices of medicines have also seen a surge, with a 1.66 percent increase in just September. Dental services have become 29.47 percent more expensive, and medical tests have become 7.32 percent more costly.

The cost of medical facilities has increased by 17.12 percent within a year, making it challenging for people to access healthcare services.

The report also revealed that the education sector has seen a 9.58 percent price hike, and tax on cars has increased by a staggering 168.79 percent.

Moreover, textbooks and stationery have become 5.75 percent and 7.71 percent more expensive, respectively.

In May, the prices of medicines were expected to rise exponentially in Pakistan after the imposition of an sales tax up to 18 per cent.

According to the Ministry of National Health Services, Regulations and Coordination (NHS, R&C) official, the government proposed an 18 percent sales tax on medicines in budget on the recommendation of the International Monetary Fund (IMF)

Experts warned that medicine prices will become out of reach for many people with the imposition of 18 pr cent GST. The step will allow pharmaceutical companies to set and sell medicines at prices of their choice, they say.