The government has withdrawn the authority to raise prices from pharmaceutical companies.
In this regard, a notification has been issued stating that companies can recommend 7 to 10 percent increase in prices.
According to the notification, the companies will fix the prices of the medicines and send them to Drug Regulatory Authority of Pakistan (DRAP). The authority will decide any change after reviewing the prices.
The notification also states that the recommendations of the price hike must be signed by the head of the company concerned. Can stop the increase or decrease.
The notification states that the authority will fix the prices within 30 days. If the authority does not make a decision within 30 days, the proposed prices will be applicable.