The cost of medicine in Pakistan has increased by 14.15%, according to an official report.
The recent report highlights a significant annual rise in medication prices, making healthcare increasingly unaffordable for many citizens. Additionally, the cost of health facilities has surged by 15.22%, exacerbating the challenges individuals face in accessing medical treatment.
Doctor’s fees have also seen a notable rise, climbing 18.76% over the past year, further adding to the financial strain on patients. In September alone, medicine prices rose by 1.66%. Dental services have become 29.47% more expensive, while medical tests have increased by 7.32%.
The overall cost of medical services has grown by 17.12% within the year, posing significant barriers to healthcare access for the population.
The report also indicates that the education sector has experienced a 9.58% price hike, and vehicle taxes have skyrocketed by an alarming 168.79%. Textbooks and stationery have increased in price by 5.75% and 7.71%, respectively.
In May, concerns arose regarding potential exponential increases in medicine prices following the introduction of a sales tax of up to 18%. The Ministry of National Health Services, Regulations and Coordination (NHS, R&C) stated that this proposal was made in the budget at the recommendation of the International Monetary Fund (IMF).
Experts have cautioned that the implementation of an 18% Goods and Services Tax (GST) on medicines could render essential medications unaffordable for many individuals. This policy shift may empower pharmaceutical companies to set and sell medicines at prices that reflect their discretion, raising further concerns about accessibility for the public.
