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Saturday, May 25, 2024  
16 Dhul-Qadah 1445  

ECC gives nod to fixing maximum price of 49 drugs

Also approves Rs9500m for Hyderabad-Sukkur motorway
Customers buy medicine from a medical supply store in Karachi on February 09, 2023. Reuters
Customers buy medicine from a medical supply store in Karachi on February 09, 2023. Reuters

The Economic Coordination Committee has approved the fixation of maximum retail prices (MRPs) of 49 new drugs on the basis of being lower as compared to their prices in the neighbouring countries.

“These drugs are being introduced in Pakistan for the first time mostly at prices considerably lower than the region,” the ECC said in a statement. The decision was made on the summary of the health ministry during a meeting presided over by Finance Minister Ishaq Dar.

MRP is the highest price allowed by the government to be charged on a product.

In addition to other decisions, the ECC approved supplementary and technical supplementary grants (TSG) of Rs422.3 billion in favour of various divisions.

The ECC approved the communications ministry summary for issuance of the government’s guarantee amounting to Rs9,500 million for the construction of the Hyderabad-Sukkur Motorway on a build-operate-transfer basis.

List of funds approved

  • Rs12 billion for the National Disaster Management Authority for procurement of relief items to restock/replenish its reserves.

  • Supplementary and Technical Supplementary Grant of Rs839.129 million for the project titled ‘New Gwadar International Airport’.

  • TSGs of Rs120.450 million and Rs140.584 million for the Establishment Division for the CFY 2022-23 to meet the shortfall of ERE and Non-ERE components, and for the payment to government departments for services rendered from various sources respectively.

  • Rs116.499 million for the human rights ministry for meeting the shortfall in essential expenditures in different organizations working under it.

  • TSG of Rs700 million for the information ministry to meet the shortfall during CFY 2022-23.

  • TSG of Rs48 million for interior ministry for release of funds to HQ Frontier Corps (North) KP for the construction of erstwhile FATA Levies Centre at Shakas, Peshawar

  • Rs470.827 for the payment of troops cost/subsistence allowance to the personnel of Civil Armed Forces deployed in UN Peacekeeping Missions

  • Rs66.336 million for the construction of Frontier Constabulary Training Center, Michni, Khyber Pakhtunkhwa. The funds had been granted in aid to Pakistan by the United States for capacity building of the civil armed forces.

  • TSGs for the interior ministry, including Rs347.99 million to complete the raising process of sixth Battalion of Pakistan Post Guards for anti-smuggling purpose

  • Rs1,251.374 million for the erstwhile FATA Temporary Displaced Persons Emergency Recovery Project (TDP-ERP) of NADRA to serve the vulnerable families, affected by military operations

  • Rs49.5 million for further disbursement of amount as financial assistance for the families of martyrs and injured persons of the Swat terrorism incident.

  • TSG of Rs9,145 million for the Power Division for the execution of 2x660MW coal-fired power project Jamshoro

  • Rs48.429 million for the parliamentary affairs ministry to meet its ERE shortfall

  • Rs1,422.394 million for the Pakistan Atomic Energy Commission to meet its ERE shortfall

  • Rs110.653 million for the National Counter Terrorism Authority to strengthen NACTA within its current mandate

  • Rs5,252 million for the defence ministry for meeting ERE shortfall and Rs402.251 billion for the Economic Affairs Division for servicing of foreign loans and credits.

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