In 2024, decisions by both caretaker and elected governments have heavily burdened patients, as the deregulation of pharmaceutical prices has removed government control over medicine costs. Over 80,000 medicines have seen a price increase of more than 200%, while taxes on medical devices have risen by up to 70%, with companies passing this burden onto consumers.
The rising inflation has added to the woes of Pakistanis, making not just healthcare but medicines increasingly unaffordable. The caretaker government introduced deregulation to promote competition, a policy upheld by the current government, leaving the public to bear the brunt. While deregulation has alleviated shortages of insulin, TB, cancer, and heart disease medications, the prices have skyrocketed.
Pharma Advocate Muhammad Noor Mehr described 2024 as the most unfortunate year for medicine affordability. On February 18, 2024, the caretaker government led by Anwaar-ul-Haq Kakar removed price control mechanisms, leading to a steep rise in medicine prices and imposing 65-70% taxes on medical devices. Pakistan’s pharmaceutical market, worth PKR 960 billion, has shifted the tax burden entirely onto consumers.
Reports from Karachi reveal that antibiotics, painkillers, and diabetes medications have seen a price surge of 100% to 200% during 2024. Frequent price changes have caused conflicts between shopkeepers and customers at medical stores. The Pakistan Chemists and Druggists Association (PCDA) expressed concern over the continuous increase in non-essential medicine prices due to deregulation.
PCDA Chairman Abdul Samad Budhani highlighted the unchecked rise in prices, while residents of Lahore shared frustrations over weekly or monthly price hikes affecting essential medicines for diabetes, blood pressure, heart diseases, mental health, fever, and antibiotics.
Medical store owners noted that treatments costing PKR 2,000 now exceed PKR 6,000-7,000. Authorities claim to monitor the situation but have yet to implement effective solutions.
Experts stress the need to curb the misuse of price-setting authority by pharmaceutical companies, warning of severe repercussions for both the public and the healthcare sector. Dr. Ashraf Nizami, a senior member of the Pakistan Medical Association, accused pharmaceutical companies of profiteering, stating prices have surged up to 300%, making medicines unaffordable for middle-income families.
The unchecked price increases demand immediate action to balance public welfare with pharmaceutical industry regulations.
