The Pakistan Pharmaceutical Manufacturers Association (PPMA) has endorsed the government’s recent decision to deregulate the prices of non-essential medicines. This policy shift aims to stabilize the pharmaceutical market, revive production lines, and ensure the availability of critical medications without leading to indiscriminate price increases.

Ensuring Sustainable Production and Supply

PPMA Chairman Tauqeer ul Haq emphasized that the intent behind deregulation is not to escalate prices arbitrarily but to make the production of previously unprofitable medicines financially viable. He noted that outdated price caps had rendered the manufacturing of certain drugs unsustainable, leading to their disappearance from the market. With the new policy, medicines such as insulin, antibiotics, and cardiac drugs are returning to pharmacy shelves, addressing long-standing shortages.

Immediate Positive Impact on the Pharmaceutical Industry

The deregulation has had an immediate effect, with local manufacturers ramping up production. Several multinational companies that had considered scaling back operations in Pakistan are now reassessing their decisions due to improved market conditions. The removal of bureaucratic hurdles, including price revision cases pending for over three years, has played a crucial role in this turnaround.

Economic Growth and Employment Opportunities

The policy change is expected to open avenues for employment, particularly for young pharmacists, technicians, and quality control professionals. Improved pricing models are anticipated to support infrastructure upgrades and promote international certifications, potentially increasing Pakistan’s pharmaceutical exports beyond the current US $700 million.

Conclusion

The deregulation of non-essential drug prices in Pakistan represents a strategic move to ensure the sustainable production and availability of medicines. By addressing supply chain issues and eliminating unviable pricing structures, the policy fosters a more robust pharmaceutical sector without imposing undue financial burdens on consumers.