ISLAMABAD: The Economic Coordination Committee (ECC) of the cabinet has approved an increase in the prices of medicines by 14 to 20 percent.
A meeting of the ECC, chaired by Finance Minister Ishaq Dar, was held to discuss various matters including the purchase of wheat, the Roosevelt Hotel, and increasing the prices of medicines.
The ECC has allowed a one-time increase in the prices of medicines by 14 to 20 percent, with life-saving drugs being allowed to be increased by up to 70 percent in proportion to their existing inflation. This means that the consumer price (retail price) of these drugs can be increased by up to 14 percent.
Similarly, the prices of common drugs have also been allowed to be increased by up to 70 percent of the inflation, but the increase cannot be more than 20 percent in their price.
