Essential Drug Prices Double After Deregulation

ISLAMABAD: Ministry of National Health Services and DRAP dropped a bombshell before the Senate Standing Committee: essential medicine prices have doubled, others surged 50% since February 2024 deregulation, per a nationwide survey ordered by the PM amid public outrage.

Over 100 common drugs jumped 32% on average after the caretaker government axed price caps to “spark competition”—instead unleashing cartel-like hikes. Committee Chairman Senator Amir Waliuddin Chishti vowed to grill pharma giants on 50%+ spikes and unleash the Competition Commission if cartelization is sniffed.

Pre-deregulation, firms were capped at 7% annual hikes (14% over 2 years)—far below the 32% explosion. PPMA pushed back, claiming 12–15% average, insisting deregulation saved the industry from collapse via cost surges, PKR crash, inflation, and restarted production of vanished drugs, slashing counterfeits.

Retailers cheered end to shortages, with Pakistan Chemists chief Abdul Samad Budhani hailing steady supply of non-essentials—but slamming bureaucratic delays on essential pricing. The committee will fire recommendations post-PM input on non-essential pricing.