Plans to bring down prices of key essential medicines

The prices of over 60 essential medicinal drugs will be reduced by 10-15 percent, a senior official at the Health Ministry said.

He said among the essential medicines are ones used to treat kidney, cancer, heart ailments, and other non-communicable diseases as well as antibiotics and pediatric medicines.

“Due to the forex crisis, prices of these essential medicines went up by 90 percent. The Ministry is planning to gradually bring down the prices of medicines. Initially, it will be about 10 to 15 percent. The situation will be continuously monitored in order to reduce prices further,” he said.

The Ministry has held discussions with the pharmaceutical bodies in the private sector importing several essential medicines to the country.

“We have received positive responses from them,” he added.

Last year the prices of 60 drugs and medicines were raised twice through gazette notifications issued by the Health Ministry. The initial price-hike of 29 percent and then the second was a 40 percent increase. The country faced a severe essential medicine shortage especially in the state sector due to dollar-rate fluctuations.