Caretaker Prime Minister Anwaarul Haq Kakar led a federal cabinet meeting, where a proposal to increase the prices of 146 medicines was approved. The decision, driven by escalating global raw material costs, was justified by the Ministry of National Health. The caretaker government, under Kakar’s leadership, aims to strike a balance, addressing the impact of rising raw material prices on pharmaceuticals while ensuring continued accessibility for the public.

During the meeting, Prime Minister Kakar stressed the importance of maintaining affordable rates for medicines. The surge in raw material costs emerged as a key factor influencing the decision to greenlight the price hike. Kakar urged stakeholders to propose measures for enhancing the performance of the Drug Regulatory Authority of Pakistan (DRAP), emphasizing that suggestions within existing regulations on price deregulation should be considered by the next elected government in parliament.

The federal cabinet’s decision reflects a concerted effort to navigate economic challenges affecting the pharmaceutical industry. The caretaker government remains committed to striking a balance between the interests of the pharmaceutical sector and ensuring the affordability of medicines for the public.

In a broader context, the federal cabinet also approved the signing of a Memorandum of Understanding (MOU) between the Competition Commission of Pakistan (CCP) and the State Administration of Market Regulation (SAMR) China. This move, recommended by the Finance Ministry, is expected to enhance information sharing and cooperation between Pakistan and China, aligning with the government’s efforts to strengthen diplomatic and economic ties.

The caretaker federal cabinet’s proactive approach, addressing economic challenges, pharmaceutical industry concerns, and fostering international cooperation, underscores its commitment to effective governance during this transitional period.

Also, see:

6 Technologies to Watch in 2024 : A Glimpse into the Future

Topics #featured #Pakistan #trending pakistan