Sunday , 29 January 2023

Reduce prices of medicines – Pharmaceutical Society demands over cedi appreciation

The Pharmaceutical Society of Ghana is demanding an immediate reduction in the prices of medicines over the appreciation of the cedi. 

The Society is concerned that despite the relative stability in the rate of the cedi, prices of drugs continue to remain high. 

It therefore wants players in the pharmaceutical supply chain “including manufacturers, importers, wholesalers, suppliers and retailers to take urgent steps to reduce the prices of medicine to reflect the cedi’s improved performance against the major trading currencies of the world”.

In addition, the Pharmaceutical Society of Ghana wants the National Health Insurance Authority (NHIA), the Ministry of Health (MOH), and the Ministry of Finance to urgently work together to ensure payment of arrears owed providers under the National Health Insurance Scheme (NHIS) so that providers can pay suppliers of pharmaceutical products. 

“It is hoped that the above actions will go a long way to reduce the burden of medical care on Ghanaians”, the statement concluded.

Already, President Akufo-Addo has also appealed to the business community to reduce the prices of goods and services as the cedi regains its strength.

Prices of fuel are also recording substantial reduction. According to the Bank of Ghana, the local currency is currently trading at GH¢8 on the interbank market with a litre of petrol and diesel selling at GH¢13 and GH¢16 respectively.

In view of this, President Akufo-Addo says, it is just fair for prices of goods and services to be reduced, taking into consideration, the gains the cedi is recording.

“I add my voice to those of GUTA, GRTCC and others, to appeal to manufacturers, traders and transport operators, that with the height of the cedi’s recent depreciation and increased prices of goods and services, to reduce their prices of goods and services now that the cedi is regaining much of its strength. I believe this is not only a fair request but also a just one.”

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