A meeting of the Senate Standing Committee on Health was informed that prices of various medicines in Pakistan have increased by as much as 100 percent over the past two years, sparking strong criticism from lawmakers over rising healthcare costs.

During the committee meeting, members expressed concern over the sharp increase in medicine prices and questioned the impact of deregulation policies introduced during the caretaker government in 2024.

Officials briefing the committee said medicine prices were deregulated in 2024, allowing pharmaceutical companies to determine prices independently. Since then, prices of several medicines have reportedly doubled over the last two years.

Authorities further explained that under existing laws, the Drug Regulatory Authority of Pakistan (DRAP) can regulate prices only for life-saving medicines.

Federal Health Minister Mustafa Kamal told the committee that the Ministry of Health has no direct role in increasing or decreasing medicine prices under the current regulatory framework.

The committee directed DRAP officials to prepare a formal pricing formula for medicines and also summoned representatives from the Pakistan Bureau of Statistics for the next meeting.

Committee members observed that the pharmaceutical sector appeared to be among the most profitable industries in Pakistan and said it was unacceptable to give pharmaceutical companies unchecked freedom in pricing medicines. Lawmakers stressed the need to review the existing law governing drug price deregulation.

DRAP Chief Executive Officer Dr. Obaidullah informed the committee that Pakistan currently has 659 pharmaceutical companies, while 394 firms import medicines and vaccines from abroad.

He added that Pakistani pharmaceutical products are being exported to 51 countries and revealed that the country’s pharmaceutical industry recorded sales of approximately Rs1.32 trillion last year.