The federal government has decided to introduce a comprehensive drug pricing policy and a mechanism to rationalise the prices of life-saving medicines.
Talking to journalists on Wednesday, the Minister for National Regulations and Services Dr Firdous Ashiq Awan said that prices of 92 drugs have been reduced substantially even to the extent of 400% in some cases. The formal notification to this effect has been issued, she added.
Awan said that the drug regulatory authority ordinance has been amended in consultation with the stakeholders and has been forwarded to the relevant house committee, which will present the summary in the next session to convert it into a law. She warned to launch crackdown within a week against medical stores selling substandard, spurious and fake drugs in the federal capital and asked the provinces to follow the centre.
She said that the DRA is the prime regulator to fix prices of the medicines and necessary changes have been made in the Drug Act 1997. She was of the view that comprehensive legislation was vital for cheaper and standard medicines.
She said that investment friendly policies are being introduced to fetch foreign investment in the pharmaceutical sector.
Published in The Express Tribune, July 20th, 2012.