islamabad - The Drug Regulatory Authority of Pakistan has formally approved annual increase in the prices of registered drugs in the country following the directions of the federal cabinet, said an official on Tuesday.

According to details, prices of scheduled drugs have been increased by 2.8% while the non-scheduled drugs prices have been increased by 2.91%. As per new prices, the price of a medicine costing lower than rupee five has been increased by 4.16%.

The notification issued in this regard said that maximum retail prices of drugs may be increased as per drug pricing policy 2015.

The notification added that the MRP shall not be subject to the conditions including the price increase. It shall not be applicable on the batches manufactured before affecting the increase of authorized rates by the federal government. No recall of drugs of already marketed batches shall be allowed.

It said the revised MRPs shall be printed on the label in the manner prescribed by the drugs and no manufacturer, importer, retailer, hospital, clinic, wholesaler or distributer shall be allowed to affix stickers, overlapping or masking of prices.

The order stated that calculations of revised MRPs duly signed and stamped by the managing Director or any other high official shall be intimated to the authority at least 15 days prior to affecting.

The revised price shall be submitted in hard copy and uploaded on the DRAP website as prescribed by the authority. Evidence for the authenticity of the approved prices shall be submitted with declaration that the calculation has been made in accordance with the provisions of the drug pricing policy 2015, said order.

The notification also said that if after 4.16percent increase in MRP of any lower priced drug, its MRP is more than the threshold given under para 11 of the drug pricing policy 2015, such drug shall be excluded from lower priced category and given price increase.  

Spokesperson DRAP Sajid Hussain Shah talking to The Nation said that the increase of price is implementation of 2015 drug pricing policy.

He said that the policy was made taking all stake holders into confidence and the consumer will pay the price through a rule instead of illegally set prices.