Pharma companies agree to reduce prices of fever medicines: Dar

Islamabad: Federal Minister for Finance and Revenue Senator Mohammad Ishaq Dar on Wednesday said that the pharma industry agreed to provide paracetamol products at reduced prices.

He said this during a meeting with heads of pharmaceutical companies involved in the production of paracetamol products, a Finance Ministry press release said.

The meeting was also attended by the SAPM on Finance Tariq Bajwa.

The meeting reviewed the maximum retail price and shortage of paracetamol products in the country and discussed modalities for smooth supply and availability of paracetamol products in the markets at affordable rate.

It was informed that rising import prices of pharmaceutical raw materials and increasing production costs are increasing the shortage of essential medicines in the market.

The pharmaceutical heads demanded a high increase in the prices of paracetamol products to overcome the shortage.

In order to resolve the issue of shortage of paracetamol products and to support local manufacturers, the chair discussed in details with the stakeholders and following reduced prices of paracetamol products have been agreed upon by the Pharma industry against their demanded prices.

The production of Paracetamol products has been started by the Pharmaceutical manufacturers.

The Pharma industry agreed upon the reduced prices of paracetamol (plain) 500 mg tablet at Rs 2.35; paracetamol (extra) 500mg at Rs. 2.75 and Syrup at Rs. 117.6, which is almost half of the price increase demanded by them.

The Pharma industry demanded the prices of paracetamol (plain) 500 mg tablet at Rs 2.67; paracetamol (extra) 500mg at Rs. 3.32 and Syrup at Rs. 117.6.

SOURCE: APP