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Wednesday, 3 August 2016

Parliament approves ‘dual-pricing’ policy for medications to promote exports

The House of Representatives has approved a new “dual-pricing” policy for medications that show the “real” price as well as the subsidised selling price for Egyptians, Al Borsa reported. The policy will not change the price paid for medications domestically, but will allow pharmaceuticals producers to export more of their products at the set package price without the government subsidy. A member of parliament says the new pricing system opens Arab and African markets to Egypt-based producers and would help compensate for some of their FX-driven losses. Mohy Ebeid, Head of the Pharmacists Syndicate, says the execution of this policy should boost the sector’s exports to USD 700 mn per annum from USD 300 currently.

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