New committee formed to address pharmaceutical pricing issues

LAHORE: Under the Prime Minister’s directive, a committee has been established to address drug pricing issues and tackle current challenges within Pakistan’s pharmaceutical sector.

The Law Minister led the committee’s inaugural meeting yesterday, during which stakeholders provided insights into the operations of independent price authorities and their global practices. The discussion focused on identifying the most effective pricing model for Pakistan, with input from all involved parties.

The committee has agreed to prepare a comprehensive working paper for review at their next meeting.

Key issues on the agenda include market pricing concerns, the impact of medicine imports on market distortions, and the classification of drugs not currently subject to government pricing controls.

Additionally, the committee will explore strategies to create a favourable environment to attract international pharmaceutical companies back to Pakistan.

It was emphasised that pricing and regulation functions should remain distinct. While regulators are responsible for maintaining medicine standards, pricing should be determined by market forces rather than government intervention.

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