Deputy Minister of Finance Ahmed Saaid Musthafa has revealed that will benefit from the price control measures implemented on medicines, as well as from the systematic importation of pharmaceuticals, starting next year. He highlighted the government's commitment to reducing the excessive expenditures incurred by the national insurance system.
The national insurance system, which is managed by Aasandha Company Limited, is a system that delivers services uniformly to all individuals, regardless of their socio-economic status. This approach has led to inefficiencies and challenges in delivering services in a sustainable and cost-effective manner. Presently, the insurance system accounts for the highest expenditures, which include, wasteful expenses.
Aasandha reported that more than half of its expenses are attributed to the importation of medicines, which continue to rise annually. Aiming to address this issue, President Dr. Mohamed Muizzu stipulated measures to prevent sale of medicine imported and sold in the Maldives with huge profits. The president instructed all relevant authorities to take necessary measures to prevent such huge profits from being taken in the sale of medicines.
The Ministry of Finance has initiated several measures to regulate medicine pricing. The government has asserted that adopting a bulk procurement policy for the importation of medicines will significantly lower costs.
Speaking at a programme aired on PSM News, Deputy Minister Saaid expressed optimism regarding these measures, indicating that their effects will be noticeable next year. He expressed confidence that the situation will improve without any changes brought to the quality and availability of medicines.