Lahore: Pakistan government has decided to increase the price of medicines in the country. Price of general medicines will be hiked by 20% and essential medicines by 14%. The government took this decision as the country is witnessing a higher inflation.
Meanwhile, the drug manufacturers said the increases were too small. Drug importers and manufacturers were demanding an across-the-board 39% rise.
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Pakistan’s annual inflation rate hit 35% in March, fuelled by a depreciating currency, a rollback in subsidies and the imposition of higher tariffs to secure a bailout package of $1.1 billion from the International Monetary Fund. Food inflation has soared to 47%.
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