Medicinal Costs Surge in Rawalpindi: Price Increases of Up to 500%
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Key Takeaways
Islamabad, March 29 (NationPress) The cost of medications has soared in the open market, particularly in the pharmaceutical center of Bohor Bazaar, located in Rawalpindi, Pakistan. Local news outlets reported that price increases range from 50% to a staggering 500% on Sunday.
Essential medications, including those for diabetes, hypertension, antibiotics, gastrointestinal issues, and cough remedies, have seen significant price hikes. For instance, the cost of an insulin injection device has surged from PKR 2,200 to PKR 4,720, as reported by The Express Tribune.
Vitamin B supplements now cost between PKR 500 and PKR 600, while indigestion and acidity medications have risen from PKR 530 to PKR 620. Additionally, the price of nutritional supplements and vitamin tablets has increased from PKR 480 to PKR 510.
Thyroid medication has jumped in price from PKR 85 to PKR 290, and a common typhoid treatment has seen its cost rise from PKR 805 to PKR 930. Numerous other life-saving medications have also become more expensive.
Critics have labeled these increases as 'unbearable', arguing that the price of insulin devices, now ranging from PKR 2,000 to PKR 5,000, is prohibitive for low-income patients seeking essential treatments. They are calling on the government to take action.
In another concerning trend, the average price of liquefied petroleum gas (LPG) in Pakistan has climbed to PKR 3,900-5,135 for an 11.67 kg cylinder, up from PKR 3,150-3,968, largely due to ongoing conflicts in West Asia.
Data from the Sensitive Price Index (SPI), published by the Pakistan Bureau of Statistics (PBS) for the week ending March 26, indicates that most significant price increases have occurred across various cities in Punjab, according to another leading daily, Dawn.
As gas prices escalate, fares for LPG-powered private transportation have also risen, compelling additional strain on low- and middle-income commuters who rely on LPG-driven rickshaws, buses, and minibuses.
Amid a surge in global LPG prices due to geopolitical tensions, gas supplies from Iran, previously at levels between 10,000 and 12,000 tonnes daily, have diminished because of the Eid and Nowroz holidays.
M Ali Haider, the Convenor of the Standing Committee on LPG of the Federation of Pakistan Chambers of Commerce and Industry, noted that three vessels carrying approximately 20,000 tonnes of imported LPG arrived in Pakistan during March.
He explained that the nation requires about 2 million tonnes of LPG annually, of which 1.2 million tonnes are imported, while local refineries produce 800,000 tonnes.