ISLAMABAD: The Economic Coordination Committee (ECC) of the Federal Cabinet on Monday approved the hike in the prices of 49 medicines under the Minimum Retail Price (MRP).
However, the government claimed that the prices of these 49 drugs were 24% to 77% lower than other regional countries including India, Bangladesh, Nepal and Sri Lanka.
Medicines include Taflotan Ophthalmic Solution 0.0015% w/v OBS Pakistan, MultiBic 2 mmo1/1 Potassium Solution for Hemodialysis/Hemofiltration M/s Fresenius Medical Care Pakistan (Private) Ltd, MultiBic 4 mmo1/1 Potassium Solution for Hemodialysis/Hemofiltration Multibac 3 MMO 1/1 potassium solution for hemodialysis/hemofiltration and others.
The ECC also approved a supplementary grant of Rs 402.251 billion for debt servicing on Chinese and Saudi loans mainly due to exchange rate fluctuations.
The exchange rate was fixed at Rs 186 against the US dollar but the exchange rate depreciated to an average of Rs 235 against the US dollar.
After the meeting, according to the official announcement of the Ministry of Finance, Federal Minister for Finance and Revenue Senator Muhammad Ishaq Dar presided over the ECC meeting.
ECC has approved release of GoP guarantee of Rs 9.5 billion for construction of Hyderabad Sukkur Motorway project.
It also sanctioned Rs 12 billion for procurement of relief items to restock/replenish its reserves to be better prepared to deal with any impending calamity.
The ECC also approved the summary of the Ministry of Interior for release of funds of Rs.66.336 million as TSG for the construction of Frontier Constabulary Training Centre, Machni, Khyber Pakhtunkhwa.
ECC also sanctioned supplementary and technical supplementary grants for 16 other projects.
