Prime Minister Nawaz Sharif on Monday congratulated Finance Minister Ishaq Dar and his team for the foreign exchange reserves crossing $15 billion.
Dar briefed the premier regarding the economic measures that were taken in order to achieve this target.
Out of the total amount, $10 billion are with the State Bank of Pakistan, while the rest is with commercial banks, he said.
Earlier this month, Dar had said that Pakistan’s foreign exchange reserves will touch $15 billion by the end of this month.
Addressing the office bearers of all Pakistan newspapers society in Islamabad, the federal minister had called upon all political parties to join hands to put the country back on track.
FOR AN ADEQUATE DRUG PRICING POLICY:
Separately, a high-level meeting to discuss the draft of policy regarding fixation of drugs prices was held in the capital on Monday with Finance Minister Senator Ishaq Dar in the chair.
The Drug Pricing Policy meeting was attended by senior officials of the Ministry of Health Services, Ministry of Finance and Drug Regulatory Authority of Pakistan. The meeting was intended to take all stakeholders on board including Ministry of Finance so that a balanced policy could be framed.
The National Health Services secretary briefed Dar about salient features of the draft policy apprising him about various formulas for price fixation including cost plus pricing, reference pricing, market based pricing and freezing of prices at existing approved level.
Dar said prices of medicines in Pakistan on average are economical compared to other countries in the region including India and Bangladesh. He said the new policy meant to encourage the local pharmaceuticals and chalk out a mechanism that would ultimately link pricing of medicines with changes in CPI.
The minister emphasised that pricing mechanism should be so devised that it ensures adequate supply of all essential drugs, protects interest of the customers while also taking cognizance of the requirements of pharmaceutical industry.
“The pricing policy should maintain a balance between the interests of the industry and the customers,” the minister remarked. The meeting expressed broad agreement on the silent features of the policy. The finance minister said that improvements suggested during the meeting may be placed before policy board for its consideration.
