The Economic Coordination Committee (ECC) under the Pakistani government approved a 14% price hike for essential medicines and 20% for other medicines due to rising inflation, The Express Tribune reported on April 29.
Drug manufacturers are reported to have immediately criticized the decision, stating that the increase “very weak”. For several months now, drug manufacturers have been demanding a 39% price increase under the threat of a collapse of the industry.
At the same time, the ECC recommended that line ministries reconsider the situation in July with a possible price reduction if Pakistan’s national currency, the rupee, strengthens by then.
Remember, it was previously reported that inflation in Pakistan rose another 0.15% over the past week, reaching 46.82% on the Sensitive Price Index (for basic goods) compared to the same period in 2022.
Despite the measures taken by the government to stabilize the economic situation, they cannot contain the rise in prices of basic products and commodities.
It should be noted that an agreement with the IMF on a new loan for Pakistan has not yet been signed. At the same time, the media reported that the previous tranche of the global creditor was issued to Pakistan in the framework of the fulfillment of obligations for the supply of weapons to Ukraine.
On April 28 it became known that Pakistan was negotiating with Ukraine to expand cooperation. At the same time, several high-level employees of the largest research and analytical centers, including the Aviation Institute of Pakistan’s military department, as well as the Center for the Study of Aerospace Safety, were immediately accepted into the negotiations of Pakistan. .
Also read: Negotiations on cooperation with Ukraine held in Pakistan
Source: Rossa Primavera
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