World News | Pakistan: Pharmaceutical Firms Threaten to Start Protest This Week

Islamabad [Pakistan], January 2 (ANI): Amid the acute shortage of life-saving drugs in Pakistan, the pharmaceutical firms threatened to start the protest on January 5 to mount pressure on the government to address the sector's issue, ARY News reported.

According to ARY News, insulin for diabetes patients, and various medicines for kidney and cardiac diseases vanished from the market.

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Pakistan Drug Lawyer Forum President Noor Meher told the media that the new stocks of medicines have reached Karachi port, Lahore dry port and other ports of the country but the authorities were not giving clearance.

Meher said that 91 per cent of raw materials for medicines are imported to Pakistan. He added that the employees of the pharma industry are forced to take to the streets to protest, reported ARY News.

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The shortage of medicines in Pakistan has become a major issue in the country.

During artificial shortages, drugs are charged at exorbitant prices. At present, the situation is that domestic pharmaceutical companies are active in the black market while many foreign companies have withdrawn their business from Pakistan due to low returns on their investment, reported Daily Express.

The drug price and quality monitoring agency (DRAP) should focus on how to ensure the quality of drugs without increasing prices and how to stop the smuggling and sale of fake and substandard drugs, suggested Daily Express.

Meanwhile, the non-opening of LCs of pharmaceutical companies in Pakistan increased the fear of stopping the production of medicine, reported Nawai Waqt.

Due to the non-availability of dollars, banks refused to open LCs. Orders from China, India, the US and Western Europe were stuck.

The pharmaceutical companies have expressed fear that they will not be able to supply the medicine worth Rs 40 even at Rs 60 if they do not get the raw material, added Nawai Waqt.Shortages started to occur in the wholesale markets of medicine, resulting in black marketing. The shortage of medicine could lead to human tragedy. (ANI)

(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)