Karachi - The Pakistan Pharmaceutical Manufacturers Association (PPMA) has warned that it will be compelled to increase prices of medicines manufactured in the country by 40 per cent in one month’s time if the present government takes no step to provide much-needed relief to the local drug producers in view of massive rupee devaluation and other pressing factors. The warning to this effect was given by Central Chairman of PPMA Zahid Saeed while addressing a press conference here on Saturday.

“We have very fewer choices before us now as already up to 250 medicines have virtually vanished from the Pharma market of the country as their manufacturers did find it simply unfeasible to keep producing them given the irrational pricing of the government for these drugs,” said PPMA chairman. He said that 40 per cent increase in prices of locally produced medicines would be a highly undesirable step for pharmaceutical manufacturers of the country as such a decision would only be taken to keep the industry afloat only for the sake of patients’ needs.

“We know very much what could be the serious repercussions of our unilateral decision but this will be like the last resort for us to keep our businesses viable and functioning as otherwise ailing citizenry of this country would be the ultimate sufferers,” he said.  He said that manufacturing cost of the medicines in the country had been lately increased up to 60 per cent given the record devaluation of rupee and increase in duties and taxes on the industry.

He said that federal government had been reluctant to notify the new prices of a number of medicines despite over a year had passed since recommendations had been given to this effect by the Drug Pricing Committee (DPC).

He said that it was high time for the government to notify new prices of medicines as per the recommendations of the DPC as any further delay to this effect would compel the Pharma industry to take a unilateral decision.

“The issue has been pending since the last federal government as we were very much hopeful on this front once the new government of Pakistan Tehreek-e-Insaf came into power over 100 days back but so far no progress has been done on this matter,” he said.