Nawaz orders reversal of hike in prices of medicines

"The price raise is unacceptable," said the spokesperson at PM's Office, quoting Prime Minister Nawaz Sharif.

ISLAMABAD:

Prime Minister Nawaz Sharif on Friday took notice of the increase in prices of drugs and medicines and decided to retract the increase immediately, said a spokesperson of the Prime Minister's Office.

The spokesperson said that the premier had termed the price raise as unacceptable and directed that prices of drugs should remain unchanged.

He said that the increase in price of medicines has been withdrawn with immediate effect and a notification has also been issued in this regard.

An inquiry has also been ordered to determine why the hike was approved.

Earlier, pharmaceutical companies had expressed their concern at working with capped prices.

“This is also a political government and we won’t put any undue pressure because public reaction could be harsh. But right now, it has become really difficult for us to operate," Nasir Javaid, chairman Pakistan Pharmaceutical Manufacturers Association (PPMA)  had said.