Unshackling Prices

The removal of government regulation of drug prices will be a temporary measure for a period of six months to be reviewed afterwards.

rnrnThe initiative, backed by Consumer Affairs Minister Ravi Karunanyake follows in the wake of the new government policy of liberalisation and deregulation.

rnrnldblquote One of the key reasons for decontrol is that regulation hasn
quote t served the purpose of keeping prices within affordable reach of consumers,
dblquote says Acting Secretary General, Fair Trading Commission, Shanthini Thiruneelakandan.

rnrnldblquote The problem lies largely at retail level over which our regulations have no control. Even though in practice, prices of pharmaceuticals can be kept well beneath the maximum allowed level, this very often doesn
quote t happen,
dblquote she said addressing participants at a National Seminar on Pharmaceuticals on Tuesday.

rnrnCurrently, the Fair Trade Commission regulates pharmaceutical prices. The FTC requires pharmacies to keep prices within an ambit o