Islamabad (HRNW) The Economic Coordination Committee (ECC) has given the green light to hike the prices of 19 medicines, including paracetamol products used for pain relief and fever reduction.
ECC meeting was presided over by Federal Finance Minister Ishaq Dar during which various matters including electricity bill collection and medicine prices were discussed.
The ECC has given the green light to hike the prices of 19 medicines, including paracetamol products used for pain relief and fever reduction.
The committee has approved the fixing of the maximum retail price for 18 new drugs.
According to the finance ministry, these medicines are more affordable than their counterparts in other countries in the region.
The price determination of these medicines was approved on the recommendation of the drug pricing committee.
In addition to the new drugs, the ECC also approved an increase in the retail price of paracetamol products, setting the price of a 500mg tablet up to Rs3.32.
The move has been described as a “bitter pill to swallow” for consumers who heavily rely on these products for pain management.
However, the ECC has not completely forgotten the plight of patients and consumers. They have also approved a reduction in the retail price of 20 other medicines, offering some much-needed relief.