Medicine Prices Increase by 14.15% in Pakistan: Report

PAKISTAN: According to a report covered by ARY News, the prices of medicines in Pakistan have surged by 14.15% over the past year. The increase reflects a growing concern about the affordability of healthcare in the country as families struggle to cover the rising costs of essential medicines and medical services.

The report highlighted that health facilities, overall, have become 15.22% more expensive. These rising costs are posing a substantial burden on many citizens, especially those with chronic medical conditions who need regular treatment.

Doctor’s Fees and Dental Services Hit New Highs

In addition to the rising costs of medication, ARY News also reported that the fees for medical consultations have increased by 18.76% in the last year, making routine doctor visits harder to afford for many. “The prices of medicines have also seen a surge, with a 1.66 percent increase in just September,” noted the report.

Dental services have not been immune to these hikes either, with a sharp rise of 29.47% reported in the cost of dental care. This significant spike is likely to deter individuals from seeking necessary dental treatment, which could have further implications for the population’s oral health.

Cost of Medical Facilities and Tests on the Rise

The report also pointed out an alarming increase in the costs of medical facilities and diagnostic tests, which have become 17.12% and 7.32% more expensive respectively. These increases further contribute to the overall challenge of accessing healthcare services in Pakistan. Rising costs mean that even basic medical diagnostics are becoming increasingly inaccessible for a large section of the population.

Education and Other Expenses Also Affected

Healthcare is not the only sector affected by rising costs. According to ARY News, the education sector has also witnessed a price hike, with costs increasing by 9.58%. Essential learning materials have not been spared, as textbooks and stationery have become 5.75% and 7.71% more expensive, respectively.

The report also touched on the automotive sector, revealing a drastic 168.79% increase in taxes on cars. This sharp tax increase can impact a wide array of costs in the economy, including transportation of goods and services, which could contribute to additional price inflation across sectors.

The Role of Increased Sales Tax

ARY News reported that the prices of medicines were expected to rise exponentially in Pakistan due to a sales tax of up to 18% imposed earlier this year. The tax increase was recommended by the International Monetary Fund (IMF) and incorporated into the government’s budget. This, according to the Ministry of National Health Services, Regulations and Coordination (NHS, R&C), has played a crucial role in the recent surge in medicine prices.

Experts have warned that with the imposition of the 18% General Sales Tax (GST), “medicine prices will become out of reach for many people.” They caution that this measure effectively grants pharmaceutical companies the power to set and sell medicines at elevated prices, which may exacerbate the issue of affordability for essential healthcare.

Public Health Implications

The cumulative impact of these increases—whether in medicine prices, healthcare services, or education—underscores a broader issue of rising living costs across Pakistan. As the ARY News report illustrates, the healthcare burden is only growing heavier for ordinary citizens, especially the poor and middle class, who are often most affected by such economic changes.

With dental services seeing a massive price surge and consultation fees steadily climbing, the population’s overall health could suffer as fewer individuals will be able to afford routine care and early intervention. The report serves as a call for policymakers to reconsider measures that impact essential sectors, such as healthcare and education, to avoid exacerbating socioeconomic disparities in access to critical services.

Conclusion

The ARY News report reveals a concerning trend of rising costs in Pakistan, spanning essential medicine, healthcare services, and education. With health facilities becoming 15.22% more expensive and medicines seeing an annual increase of 14.15%, the financial burden on Pakistani citizens is intensifying. Experts are concerned that the imposition of an 18% sales tax on medicines, recommended by the IMF, will further hinder access to essential healthcare for many.

The government and stakeholders must carefully assess the consequences of these economic measures, as ensuring affordable healthcare and education is fundamental for the welfare and prosperity of the population.