Tuesday Mar 23 2021
Web Desk

Coronavirus in Pakistan: DRAP satisfied with Sputnik V retail price, says Asad Umar

Web Desk

  • Asad Umar says the DRAP is satisfied with assessment of price for Russian vaccine.
  • Says if objections raised by the importer are correct, DRAP will reconsider its decision.
  • Dr Yasmin Rashid says Pakistan will get six million more doses of the CanSino vaccine by April 15.

ISLAMABAD: Federal Minister for Planning Asad Umar on Monday said that the Drug Regulatory Authority of Pakistan (DRAP) is satisfied with its assessment of the price fixed for the Russian coronavirus vaccine Sputnik V.

While talking on Geo News programme "Aaj Shahzeb Khanzada Kay Sath", Umar said he checked with the secretary health on the matter after the importer raised concerns on the retail price announced by the pricing committee of DRAP. He said they are satisfied with the retail price, although it is a complicated matter.

"The DRAP is okay with their assessment based on the facts available with them that the price fixed for the Russian vaccine is fine," he said.

Read more: Govt to review Russian vaccine price after importer raises reservations

The government on Sunday had said two doses of Russia's Sputnik V vaccine would be available at Rs 8,449 in the country but the importer objected to it and asked for a review.

Umar, who is also the chief of Pakistan's COVID-19 body, said if the price fixed by the government is correct then any other company will import the medicine and if the objections raised by the firm are correct then the DRAP will reconsider its decision.

He also said that the COVID-19 vaccine is available in the country and hundreds of thousands of doses are currently stored.

"Pakistan would get around 60,000 doses of CanSino vaccine by March 26 and at the end of the current month, 10 million doses of Sinopharm would also arrive from China. So, we are not dependent on the Russian vaccine and the government is making arrangements for the vaccine."

Read more: Pakistan to start import of CanSino vaccine for commercial use this week

In a separate statement, Punjab Health Minister Dr Yasmin Rashid said that Pakistan will get six million more doses of the CanSino vaccine by April 15.

COVID-19 vaccine price-fixing formula in Pakistan

Meanwhile, the health authorities have also finalised a formula to fix the prices of vaccines imported by the private sector in the country.

According to a Dawn report, the regulatory authority has approved two formulas for the sale of vaccine with a 40% mark-up for companies and an additional 15% for retailers/hospitals.

Per details, for those vaccines imported in finished form, the trade price will be equal to landed cost plus 40% mark-up while for the vaccines imported in bulk quantity and repacked locally, the trade price will be equal to landed cost plus packaging cost and 40% mark-up for companies. Moreover, retailers/institutions will get 15pc of the price as commission.

“Cost of imported finished vaccine and bulk import shall be as per the letter of credit (LC) or bank contract established for import from the manufacturer of the respective vaccine. It shall be submitted by the importer along with pro forma invoice issued by the manufacturer and affidavit by the importer to confirm that import price in LC and pro forma invoice is actual and estimated import levies and expenses are not overstated. In case of bulk import and local repacking, cost of packaging shall be estimated and authorised agents shall submit an affidavit about the genuineness of cost and estimated import levies and expenses (advance income tax @ 5.5 per cent, civil aviation charges, LC charges, insurance, etc) shall not exceed 10pc of the cost of freight (C&F) price by the importer,” the notification states as reported by Dawn.

The notification has also prohibited the sale and distribution of vaccines in the market and only allowed the administration in private sector hospitals and institutions.