Medical mishap

In the past months, the exorbitant price hike on medicines has become concerning. What needs to be realized is the fact that generalized regulations on the prices of medicines will limit sales for drug manufacturers so the market may well empty out without a profit. In a country where foreign investment is imperative for its growth, it looks like government has failed to create an environment favourable for doing business. It has reached the point where many pharmaceutical companies have halted the production of life-saving drugs. This causes distress to patients as those suffering from fatal diseases now have to import these medicines at global market prices, which costs up to Rs500,000 per month.

Unfortunately, most of the manufacturing and production facilities in Pakistan are underused and have become non-competitive in relation to the industry benchmark followed in the region due to unjustified regulations. Being on the verge of total collapse, the pharmaceutical industry needs government support more than ever.

Kiran Farooq

Karachi