ISLAMABAD    -  Federal Minister for Fi­nance and Revenue Sena­tor Mohammad Ishaq Dar on Wednesday said that the pharma industry had agreed to provide paracetamol products at reduced prices.

He said this during a meet­ing with heads of pharmaceu­tical companies involved in the production of paracetamol products, a Finance Ministry press release said. The meet­ing was also attended by the SAPM on Finance Tariq Ba­jwa. The meeting reviewed the maximum retail price and shortage of paracetamol prod­ucts in the country and dis­cussed modalities for smooth supply and availability of paracetamol products in the markets at affordable rate. It was informed that rising im­port prices of pharmaceutical raw materials and increasing production costs are increas­ing the shortage of essential medicines in the market. The pharmaceutical heads de­manded a high increase in the prices of paracetamol prod­ucts to overcome the shortage. In order to resolve the issue of shortage of paracetamol prod­ucts and to support local man­ufacturers, the chair discussed in details with the stakehold­ers and following reduced prices of paracetamol prod­ucts have been agreed upon by the Pharma industry against their demanded prices. 

The production of Paracetamol products has been started by the Phar­maceutical manufactur­ers. The Pharma industry agreed upon the reduced prices of paracetamol (plain) 500 mg tablet at Rs 2.35; paracetamol (extra) 500mg at Rs. 2.75 and Syrup at Rs. 117.6, which is almost half of the price increase demanded by them. The Pharma indus­try demanded the prices of paracetamol (plain) 500 mg tablet at Rs 2.67; paracetamol (extra) 500mg at Rs. 3.32 and Syrup at Rs. 117.6.