PPMA held meeting with officials SBP and informed them about the shortage of critical medicines including for intravenous drips, medicines for mental illnesses, and painkillers.
Pakistan Pharmaceutical manufacturers say they are unable to import medicines because the government is not opening letters of credit (LCs). In this regard, Pakistan Pharmaceutical Manufacturers Association (PPMA) held a meeting with officials from the State Bank of Pakistan (SBP) via Zoom and informed them about the shortage of critical medicines including for intravenous drips, medicines for mental illnesses, and painkillers. “There is also a shortage of life saving medicines in Pakistan,” PPMA officials stressed.
With the country having insufficient United States dollars to pay for imports, a new crises has arisen, this time in the critical health sector where essential medicines have started disappearing from shelves, it was learnt on Tuesday.
SBP officials sought from the association a list of companies which are struggling because of import restrictions. At this, PPMA officials retorted by saying that a list has been provided. A source inside the pharmaceutical industry said that the Health Ministry has blamed the commerce ministry for the crisis. Meanwhile, a health ministry spokesperson told that there is no shortage of medicines in the market.
As Pakistan doesn’t produce any molecule for medicines, the Pharmaceutical manufactures are entirely dependent on raw material imports. With the current account deficit leading to alarming dollar shortages, the industry is pondering over extreme measures, such as asking the government to allow the opening of LCs in the Chinese currency Yuan. About 60 per cent of raw materials for drugs in Pakistan are sourced from China.
An expert advised the government to start an extensive exercise to collect data on the supply and demand of essential medicines and assessment of landing and processing cost of inputs to arrive at a fair price independently. “Proper homework is necessary to engage with the private sector for a balanced policy that supports manufacturing, monitor standards, nudge companies towards higher productivity, curb collusion and promote healthy competition for a better deal for ailing Pakistanis and their families.”
Originally published at SAMAA