ECC approves maximum retail price
ISLAMABAD: The Economic Coordination Committee fixed the Maximum Retail Prices for 25 new drugs.
The committee debated the price-fixation in detail on Monday and approved the MRP of new drugs.
Finance Minister Senator Muhammad Ishaq Dar is chairing a meeting of the ECC on Monday in Islamabad. In this meeting ECC approves price new of medicines.
The Ministry of National Health Services presented the summary regarding the fixation of Maximum Retail Prices for 26 new drugs. The Finance Ministry disclosed this in its press release. The press statement, however, did not mention the names of the medicines.
Furthermore, the ECC also approved billions of rupees Technical Supplementary Grants (TSG):
- The Ministry of Housing and Works will receive Rs47.15 billion for the execution of development schemes under the SDGs Achievement Program in Punjab, Sindh, Baluchistan, and KPK provinces.
- PM’s Youth Business & Agriculture Loan Scheme will receive Rs10 billion for small loans from PM’s Youth Program.
- The Power Division will receive Rs2.72 million for the execution of development schemes in Punjab, Sindh, KPK, and Baluchistan provinces under the Sustainable Development Goals Achievement Program (SAP).
- The Petroleum Division will receive Rs1.016 billion for the execution of gas schemes in Punjab province under SAP.
Federal Minister for Finance and Revenue, Senator Mohammad Ishaq Dar, presided over the meeting of ECC.
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Govt-Petroleum dealers solve problem
Meanwhile, the Pakistan Petroleum Dealers Association and the government successfully resolved the margin problem. Both concluded an agreement on margins for petroleum products. Consequently, petrol pump dealers ended the strike plan.
In the meeting, the ministry initially proposed a margin increase of Rs1.64 per litre, which faced resistance from the petroleum dealers. However, as the session progressed, the dealers eventually accepted the proposal.
Malik Khadim Baksh, a leader of the association, confirmed the development. He stated that the margin will be incrementally increased in four stages over 15-day intervals, rather than a one-time increase.
The margin will see a 41 paisa per litre increase every 15 days, aiming to achieve the full recommended margin within two months, according to Malik Khadim Baksh.
The approved increase is set to be implemented on August 1. The final stage will be completed by September 30.
