ISLAMABAD, JUL 22 (DNA) – President, Islamabad Chamber of Commerce and Industry (ICCI) Muhammad Ahmed Waheed, has said that negative propaganda against pharmaceutical industry of the country would damage it and stressed that such tactics should be avoided to save this important industry from any adverse effects.
He expressed these views in a meeting with Nasir Qureshi, President, Islamabad Pharmaceutical Industry.
Muhammad Ahmed Waheed said that as per drug pricing policy of the government, annual increase in drugs prices was linked with the consumer price index and inflation rate. He said that pharma industry ensured regular supply of medicines during the crisis of Covid-19 pandemic due to which there was no shortage of medicines in the market.
However, negative propaganda against this industry would entail harmful consequences for it and emphasized that such propaganda should be avoided.
Speaking at the occasion, Nasir Qureshi, President, Islamabad Pharmaceutical Industry said that the pharma industry was providing quality life-saving medicines to the people. He said that the pharma industry has rendered useful services during the Covid-19 crisis as neither the prices of medicines were increased nor the shortage of medicines was allowed.
He said that under the government formula, the prices of medicines are revised keeping in view the CPI index and which are likely to be increased in September. He said that 98% of raw material has to be imported from abroad to manufacture medicines on which international prices are applicable.
However, he said that no material for the manufacture of medicines could be imported from abroad during the last five months, but the industry did not allow shortage of medicines in the market.
He said that according to the drug pricing policy, the prices of essential medicines are allowed to increase by 7% every year and the prices of non-essential medicines by 10%. However, after the 18th amendment, it has now become a provincial matter.
He said that our country is currently going through an emergency situation, so in these circumstances, negative propaganda against the pharma industry will be hurtful for this industry, which will also affect our economy. Therefore, he stressed that in order to save this important industry of the country from damaging impact, it was necessary to avoid unnecessary negative propaganda against it. DNA