According to the finance ministry, Pakistan’s government approved a 20% price rise for medicinal products on Friday.
Pakistan’s annual inflation rate reached 35% in March as a result of the devaluation of its currency, the elimination of subsidies, and the enforcement of higher tariffs in order to get a rescue package of $1.1 billion from the International Monetary Fund. The cost of food is now inflating at 47%.
The finance ministry stated that if the Pakistani rupee improved, the price of medicines might be reevaluated after three months, but added that “no increase under this category” would be given in the next fiscal year.
