Pakistan to subsidise Paracetamol, Panadol as price hike causes shortage amid huge demand

Web Desk 01:05 PM | 22 Sep, 2022
Pakistan to subsidise Paracetamol, Panadol as price hike causes shortage amid huge demand
Source: Shehbaz Sharif (Facebook)

ISLAMABAD – Prime Minister Shehbaz Sharif has directed to provide subsidies to the producers of Panadol and Paracetamol to make over-the-counter medicine affordable for the masses in wake of outbreaks of diseases after severe flooding.

Report of the state broadcaster said the premier chaired a virtual meeting with authorities concerned to review the pace of various flood relief and rehabilitation activities in the flood-hit areas.

The sharif-led federal government announced subsidy on paracetamol as the pharma company stopped production of both drugs, a move that created a shortage of widely used medicine.

Drug manufacturers maintained that the production was no longer financially viable after DRAP issued a summary to the health ministry requesting an increase in generic medicine.

Paracetamol is among the top-selling medicines, with demand for the drug being the highest in wake of rising cases of mosquito-borne diseases, especially dengue fever and malaria, as cash strapped country struggles with the effects of the devastating floods.

Earlier this month, Sindh Health Department confiscated 48 million hoarded Panadol tablets during a massive raid. The seized tablets were being hoarded to sell at expensive rates in the market.

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KARACHI - Following are the foreign currency exchange rates for US Dollar, Saudi Riyal, UK Pound Sterling, U.A.E. Dirham, European Euro, and other foreign currencies in Pakistan open market on February 6, 2023 (Monday).

Source: Forex Association of Pakistan. (last update 09:00 AM)

Currency Symbol Buying Selling
US Dollar ‎USD 275.15 278.15
Euro EUR 299 302
UK Pound Sterling GBP 335 338
U.A.E Dirham AED 75.14 75.44
Saudi Riyal SAR 73.55 73.85
Australian Dollar AUD 192 194
Bahrain Dinar BHD 712.72 720.72
Canadian Dollar CAD 205 207
China Yuan CNY 39.67 40.07
Danish Krone DKK 39.33 39.73
Hong Kong Dollar HKD 34.19 34.54
Indian Rupee INR 3.28 3.39
Japanese Yen JPY 2.5 2.54
Kuwaiti Dinar KWD 878 887
Malaysian Ringgit MYR 62.83 63.43
New Zealand Dollar NZD 173.25 175.25
Norwegians Krone NOK 26.76 27.09
Omani Riyal OMR 696.08 704.08
Qatari Riyal ‎QAR 73.62 74.32
Singapore Dollar SGD 204 206
Swedish Korona SEK 25.61 25.91
Swiss Franc CHF 291.69 294.19
Thai Bhat THB 8.15 8.3

KARACHI – The gold price in Pakistan decreased by Rs200 per tola to reach Rs204,300 on Monday after the yellow metal market witnessed mostly bullish trend last week.

As per the All-Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of 10 grams of 24 carats gold increased by Rs172 to settle at Rs175,154.

On Friday, the South Asian country registered Rs4,000 per tola decrease.

In the international market, the commodity witnessed an increase of $5 to reach $1,870 per ounce.

Meanwhile, silver prices in the domestic market remained unchanged at Rs2,250 per tola and Rs1,929 per 10 grams, respectively.


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