Public pledge: Armizan (standing at centre) witnessing the signing of the ‘Kita Gempur’ Pledge by representatives of non-governmental organisations in Putrajaya. — Bernama
PETALING JAYA: The government is finalising a new policy to make it compulsory for healthcare facilities and community pharmacies to display medicine prices.
Domestic Trade and Cost of Living Minister Datuk Armizan Mohd Ali said the proposed Medicine Price Transparency Mechanism (MKHU) was presented at the National Action Council on Cost of Living (Naccol) on Oct 3, 2023.
This was followed up with the presentation of a Joint Cabinet Memorandum with the Home Affairs Ministry and Health Ministry at the Cabinet meeting on Jan 8 this year.
“Displaying medicine prices lets people compare prices and plan expenses,” he said in a statement yesterday.
Armizan added that the display of medicine prices would be enforced through an order issued under the Price Control and Anti-Profiteering Act (AKHAP) 2011.
“Section 10 of the AKHAP provides for the minister’s power to require goods or services to be marked with a price, including the form and manner in which the information is to be provided through an order published in the gazette,” he said, adding that the measure would help curb the country’s high medical inflation rate.
“Comparatively, Malaysia’s medical inflation rate for 2025 is projected at 15%, higher than the average rate of 10% for Asia Pacific and 11% for the global average,” he said.
“We sincerely hope that this order can be enforced as soon as possible and we welcome the announcement by the Health Minister that the order for the display of drug prices will come into effect in May this year.”
Some private practitioners have objected to the plan to display medicine prices.
