ECC approves to fix maximum retail prices of 25 medicines

Islamabad: Economic Coordination Committee (ECC) has approved the fixation of maximum retail prices of 25 new drugs.

The approval was given at a meeting of the cabinet committee, chaired Finance Minister Mohammad Ishaq Dar in Islamabad.

Forum allowed allocation of 50 percent local and 50 percent imported wheat to the recipients on the weighted average price of the stock.

Committee directed that all recipients would pay full price of wheat and incidental charges of Pakistan Agricultural Storage and Services Corporation (PASSCO), as there would be no financial liability on the part of federal government for supply of wheat to the respective provinces and entities.

It also asked the provincial governments to pay the pending liabilities of Rs149 billions of PASSCO before signing a Memorandum of Understanding (MoU) for procurement of wheat for the current year.

The Committee also approved Technical Supplementary Grants of over Rs47 billions in favor of Ministry of Housing and Works for execution of development schemes under Sustainable Development Goals (SDGs) Achievement Program in the four provinces.