The Economic Coordination Committee (ECC) of the Cabinet Monday approved the fixation of Maximum Retail Prices (MRPs) of 49 new drugs on the basis of being lower as compared to their prices in the neighboring countries.
The meeting of the ECC, chaired by Finance Minister Ishaq Dar, gave the approval after considering a summary of the Ministry of National Health Services, Regulations, and Coordination.
Finance Minister Senator Mohammad Ishaq Dar chaired meeting of the Economic Coordination Committee(ECC) & approved a number of financial proposals including fixation of max:retail prices of 49 drugs for being lower as compared to their prices in the neighbouring countries
(1/)2. pic.twitter.com/CEKDAWK51A— Ministry of Finance (@FinMinistryPak) June 5, 2023
These are drugs that are being introduced in Pakistan for the first time mostly at prices considerably lower than the region.
The Drug Regulatory Authority of Pakistan (DRAP) submitted recommendations of the 52nd meeting of the Drug Pricing Committee (DPC) of the fixation of MRPs of 54 new drugs before the federal cabinet on January 3, 2023.
The federal cabinet directed to place the cases for the fixation of MRPs of 54 new drugs before the ECC for detailed discussion.
The case was placed before the ECC in its meeting held on January 25, 2023. The ECC directed that the comparison of the proposed price of new drugs with the neighboring countries may be included in the summary.
As per the direction of the ECC, needful was done and a comparison of recommended prices of 54 new drugs with prices in neighboring countries was placed before the ECC in its meeting held on Marcy 27, 2023.
However, at the time the ECC deferred the summary with the direction to separate drugs according to percentage differences in neighboring countries. Accordingly, drugs were separately annexed and the summary was once again put before the ECC meeting.
