DRAP asked to probe alleged money laundering via purchase of pharmaceutical raw materials

Report claims local manufacturers pitch higher prices to launder money
Aug 30, 2022
<p>Photo: File</p>

Photo: File

A subcommittee of the National Assembly (NA) Standing Committee on Health has directed the drug regulator to probe into alleged money laundering in the name of import of raw materials for manufacturing medicines.

The meeting of the subcommittee of the NA Standing Committee on Health was held in Islamabad on Tuesday.

The interim report on evaluation of Drug Regulatory Authority of Pakistan (DRAP) performance was presented before the subcommittee.

The participants looked into alleged money laundering through the purchase of raw materials from abroad.

As per the report, drug manufacturers offer higher prices for cheaper raw materials. This way, additional money is allegedly laundered to foreign countries, it added.

The subcommittee sought an investigation report from DRAP on the matter.

Further, the panel also sought a complete indicating comparison of 386 medicine prices from the drug regulator.

It also asked DRAP how much a common man is impacted due to changes in price.

The subcommittee also suggested strict supervision of companies and doctors involved in the purchase and sale of unregistered medications.



Tabool ads will show in this div