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DRAP increases prices of drugs.

ISLAMABAD -- Drug Regulatory Authority of Pakistan (DRAP) has issued a notification of annual increase in prices of drugs linked with Consumer Price Index (CPI).

The notification was issued in pursuance of the Drug Pricing Policy-2015 and for transparency, fair practices and uniform application. The annual increase in prices of drugs has been linked with CPI which is announced by Pakistan Bureau of Statistics.

As per CPI, the rate of statistics has been announced for financial year 2015-16 as 2.86%. As per CPI rate of 2.86% under formula in the Drug Pricing Policy-2015 was approved by the Economic Coordination of the Cabinet (ECC).

These rates of price increase are not applicable on drugs, whether scheduled, non-scheduled or lower priced drugs, whose cases are pending adjudication before the courts of law.

The authority has asked the citizens to lodge complaint if any pharmaceutical company or retailer increases price of any drug at more than the notified rate.

Price increase on drugs will be as scheduled drugs (50% of CPI) 1.43%, non-scheduled drugs (70% of CPI) 2.002% and lower priced drugs (equal to CPI) 2.86%.

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Publication:Balochistan Times (Baluchistan Province, Pakistan)
Date:Jul 28, 2016
Words:223
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