Pharmaceutical companies have opted to cease manufacturing due to a lack of raw materials and a delay in their attempts to boost prices.
Pharmaceutical businesses informed the Drug Regulatory Authority of Pakistan (DRAP) in a letter that they will cease production in one week owing to a lack of raw materials.
The pharmaceutical companies stated that they cannot offer the medications at the DRAP’s price because the cost of conducting business and raw materials has skyrocketed.
The Pakistan Pharmaceutical Manufacturers Association demanded a 28.5% price hike across the board.
However, the health ministry has assured that the government will ensure there is no shortage of medications in the country.
Earlier in January, the pharmaceutical sector issued a warning that the medication supply crisis is likely to grow as pharmaceutical companies run out of raw materials.
Syed Farooq Bukhari, chairman of the PPMA, notified the government that the pharmaceutical industry was running out of raw materials for the production of medications.