Borrowed raw materials will cause loss, PPMA, price increase formula not decided, Kadir Patel (Photo: File)
Karachi: A negotiation meeting was held between Federal Health Minister Qadir Patel and Pakistan Pharmaceutical Manufacturers Association regarding the increase in drug prices, which ended without any result.
CEO Drap, Special Secretary Federal Ministry of Health were included in the negotiation meeting while Farooq Bukhari, Zahid Saeed and Qaiser Waheed were included on behalf of PPMA.
According to the sources, the negotiations between the committee established by the federal government and PPMA will be held again this month. PPMA complained that the permission to procure raw materials on credit is not beneficial to us, if we procure raw materials on credit we will face loss in future, opened bank LC for import of pharmaceutical raw materials. And the prices of 1300 medicines should be determined according to inflation.
Federal Health Minister Qadir Patel assured the PPMA delegation. This month, talks between the federal government and PPMA will resume in Islamabad.
Health Minister Abdul Qadir Patel said that no formula has been decided to increase the prices of medicines, hoarders store medicines, the representative organization of pharmaceutical companies has demanded the government to increase the price of medicines by 38.5%.
Farooq Bukhari, Chairman of Pakistan Pharmaceutical Manufacturers Association (PPME), a representative organization of pharmaceutical companies, has said in his video statement that the problem of shortage of medicines in Pakistan has intensified, many medicines are not available.
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