Pakistan Pharmaceutical Manufacturers Association (PPMA) has termed an immediate hike in the prices of medicines inevitable due to rising manufacturing cost.
In a statement issued on Monday, a PPMA spokesperson said that the manufacturing cost of medicines has surged astronomically and demanded an immediate rise in the prices of medicines to offset it.
He said that the pharmaceutical companies would stop the production of many medicinal drugs if the prices are not increased on ad-hoc basis.
Explaining the reasons behind the demand, the spokesperson said the salaries of the workers in the pharmaceutical companies in Pakistan have been raised while the raw materials for the production of medicines have also become expensive in the global market.
The official said the transportation cost has also risen amid a hike in fuel prices.
Hence, considering these factors, the PPMA spokesperson said it had become impossible to manufacture and sell medicines at their current prices.
Under these circumstances, he said that thinking of discounting prices was out of the question.
He warned that if the prices are not raised immediately, many local drugmakers would stop the production of various medicines. Consequently, he said that those drugs would have to be imported which would be automatically expensive for the patients.
PPMA spokesperson claimed that many multinational pharmaceutical companies were shutting down their operations in Pakistan which, he said, is the last option for any company.