The government has agreed to increase the price of paracetamol in a move that will likely avert the shortage of the drug in the country.
The government has taken a decision to this effect during a meeting between Finance Minister Ishaq Dar and major pharmaceutical companies in Islamabad.
According to a Twitter message issued by the Ministry of Finance on Wednesday, pharmaceutical companies agreed in the meeting to start production of paracetamol immediately.
Under the agreed pricing, the price of plain paracetamol 500mg tablet will be Rs2.35 from Rs 187, the price of paracetamol extra 500 mg will be Rs2.75 from Rs2.19 and the price of the Syrup will be Rs117.6 from Rs104.80.
The cost of producing paracetamol has climbed along with the import price of the raw materials, according to the ministry of finance.
According to reports, the medication is not sold on the market since Panadol’s sole manufacturer reduced production and declared a force majeure because it was no longer economically feasible to produce the medication.
Fortunately, the price rise that the pharmaceutical industry has agreed to is almost half of what was initially sought.
Federal Finance Minister Senator Mohammad Ishaq Dar in a meeting with heads of main pharmaceutical companies discussed the retail price of paracetamol products. The pharma industry agreed upon the reduced prices of paracetamol 500mg tablet at Rs. 2.35,..(1/2)…
— Ministry of Finance (@FinMinistryPak) October 26, 2022
