ECC green-lights hiking prices of 49 medicines

Rs402.25bn supplementary grant for debt servicing of Saudi, and Chinese loans on account of exchange rate swings approved

By Our Correspondent
June 06, 2023
ECC green-lights hiking prices of 49 medicines.—Pinterest

ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet on Monday granted approval for increasing the prices of 49 medicines under Minimum Retail Price (MRP). However, the government claimed that the prices of these 49 medicines were 24 to 77 percent less as compared to other regional countries, including India, Bangladesh, Nepal, and Sri Lanka.The medicines included Taflotan Ophthalmic Solution 0.0015% w/v OBS Pakistan, MultiBic 2 mmo1/1 potassium solution for haemodialysis / haemofiltration. by M/s Fresenius Medical Care Pakistan (Private) Ltd, MultiBic 4 mmo1/1 potassium solution for haemodialysis/ haemofiltration, MultiBic 3 mmo1/1 potassium solution for haemodialysis/ Haemofiltratio and others.


The ECC also approved a supplementary grant of Rs402.251 billion for debt servicing on Chinese and Saudi loans mainly because of fluctuations in the exchange rate. The exchange rate was envisaged at Rs186 against the US dollar but the depreciation in the exchange rate increased to an average of Rs235 against US dollar.According to official announcement made by the Ministry of Finance after the meeting, Federal Minister for Finance and Revenue Senator Mohammad Ishaq Dar chaired the meeting of the Economic Coordination Committee (ECC) of the Cabinet.

The ECC accorded approval for issuance of GoP guarantee amounting to Rs9.5 billion for the project construction of Hyderabad-Sukkur motorway on build-operate-transfer basis. It also approved Rs12 billion for procurement of relief items to restock/replenish its reserves in order to be better prepared to respond to any impending disaster.The ECC also approved a summary of Ministry of Interior for release of funds worth Rs66.336 million as TSG for the construction of Frontier Constabulary Training Center, Michni, Khyber Pakhtunkhwa. The ECC also approved supplementary and technical supplementary grants of 16 other projects.