The latest reports suggest that the prices of life-saving drugs would see a 14 percent hike, while a 20 percent increase was approved for all other medicines.


Islamabad: The Drug Regulatory Authority of Pakistan (DRAP), with the federal government's approval, announced a price increase of up to 14 percent for life-saving medicines.
The latest reports suggested that the prices of life-saving drugs would see a 14 percent hike, while a 20 percent increase was approved for all other medicines.
The authority also issued notification in this regard, saying that a one-time dispensation, equivalent to a 70 percent increase in the consumer price index (CPI), as the reason for the price adjustment. However, the notification clarified that this increase would be considered the annual increment for the fiscal year 2023-24 and no further increases would be granted in the next financial year.
The DRAP's Policy Board will review the situation after three months and make recommendations to the federal government regarding price adjustments based on the appreciation of the Rupee. The recent surge in fuel prices and the depreciation of the national currency have contributed to record-high inflation, impacting various sectors of the economy.
According to the Pakistan Bureau of Statistics (PBS), the weekly inflation, measured by the Sensitive Price Indicator (SPI), decreased by 0.16 percent year-on-year for the week ending on May 18.
However, short-term inflation reached an all-time high of 48.35 percent for the period ending on May 4. The combined index for the week was recorded at 255.12 compared to 255.53 on May 11, 2023, and 175.08 a year ago on May 19, 2022.
Trump confirms progress on Gaza ceasefire deal
- 9 hours ago

PSX rallies for second consecutive day in new fiscal year
- 9 hours ago
USAID officially shut down as Trump administration ends 'charity-based' model
- 3 hours ago
Iran confirms damage to nuclear site after US strikes
- 8 hours ago

Karachi police arrest six fake officers in uniform near Defence
- 3 hours ago

PDMA issues alert over rising water levels in Punjab’s rivers
- 8 hours ago

Court issues non-bailable warrants for CM Gandapur
- 8 hours ago

Railway fare hike likely as diesel prices soar
- 4 hours ago
Gold prices decline amid global market downturn
- 9 hours ago

US dollar gains in interbank and open markets
- 8 hours ago
Father murders son over association with transgender individuals in Karachi
- 7 hours ago

LHC orders release of Sanam Javed
- 3 hours ago