Will the pharmaceutical sector ever be reformed? Merely two months after Prime Minister Shahbaz Sharif had constituted a high-scale committee to address drug pricing in Pakistan, a report highlighting a staggering 14.15 per cent hike in prices of medicine over the past year underscores how there’s little hope for affordable healthcare.
The involvement of government as a micromanager in a free market is often frowned upon, but is the sight of millions of Pakistanis struggling to afford basic healthcare something those responsible for their well-being should be ready to ignore? Many are left wondering how this trend will impact overall health, especially as the “greed” of the drug mafia has repeatedly created artificial shortages to force the hapless patients to turn to the black market.
For many Pakistanis, access to essential medications is already a challenge, with a large segment of the population living below the poverty line. With prices soaring higher, the ability to afford life-saving drugs becomes even more daunting. This raises serious concerns about the health outcomes of individuals who may be forced to forego treatment due to financial constraints. Just as worrisome is the 18.76 per cent increase in doctors’ fees and a staggering 15.22 per cent rise in overall healthcare facility costs, which indicates how essential treatments are fast becoming out of reach for those in need.
It goes without saying that unprecedented inflation and a measly exchange rate have made it downright impossible for Pakistani companies to buy active ingredients from foreign producers. However, the influence of pharmaceutical companies and their obsession to extract whatever they can from the pie is still a topic of much debate, with critics raising questions about their ethics and the need for greater accountability in pricing practices.
With reports of price hikes going unchecked, there is a pressing need for more stringent regulations and oversight. The government must take proactive measures to address all possible root causes and mitigate the crippling impact on public health. *
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