The government has taken steps to reduce the maximum retail price of 60 types of medicines by 16%.
It will be effective from next 15th.
It has also been decided to review the medicine prices every three months.
The proposals presented by the Minister of Health in this regard have been approved by the cabinet of Ministers.
The National Medicines Regulatory Authority established under the National Medicines Regulatory Authority Act No. 5 of 2015 acts as a regulator for all matters related to the pricing of medicines.
In view of the depreciation of the rupee against the US dollar, the Ministry of Health had given approval to increase the maximum retail price of medicines by up to 97% on several occasions.
As a result of the current economic stabilization program followed by the government, the value of the US dollar has decreased significantly.
This time the price of medicines will be reduced accordingly.
