Prices of more than a hundred commonly used medicines have increased by an average of 32 per cent since February last year, after the caretaker government lifted price controls under its deregulation policy, prompting concern among officials and calls for the pharmaceutical industry to explain the steep hikes, according to officials and industry sources. The steep rise has not only fuelled public anger but also caught the authorities off guard, as they had expected that price deregulation would promote competition and eventually bring down costs for consumers. However, the outcome appears to be quite the opposite.
The surge in medicine prices came to light through recent findings of an ongoing national survey ordered by the prime minister, following complaints from citizens, hospitals, and provincial health departments about soaring drug costs. (DAWN)