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Dollar crunch threatens to cause healthcare crisis in Pakistan

MM News Staff by MM News Staff
January 7, 2023

The ongoing dollar shortage in the country has now taken a threatening turn, as there is a scarcity of life-saving drugs and equipment in the hospitals.

In the midst of rapidly diminishing foreign exchange reserves, a falling rupee, and deteriorating macroeconomic indications, Pakistan is currently experiencing severe economic turmoil.

“We will run out of healthcare equipment in a matter of weeks. Medical labs are also in short supply. Moreover, there is also a decline of life-saving drugs,” Dr Tipu Sultan, one of the foremost names in the country’s medical profession and ex-chairman of the Sindh Health Commission, said during an interview with private channel on Friday night.

Sultan added that there is a “visible shortage” of disposable equipment used for cardiovascular surgeries and intensive care.

“There is limited stock available in private sector health care units. There is no stock available in public sector hospitals,” he said.

The medical expert shared that due to this development, hospitals are deferring elective surgeries.

“Major surgeries i.e. knee replacement and hip replacement, which require a lot of material, are being deferred and equipment is being reserved for emergency surgeries,” said Dr Sultan.

He said due to the non-availability of raw materials, medicines are not being manufactured either. “Similarly, medicines that are imported including ones for heart acute medicines are not available in the local market,” he said.

The State Bank of Pakistan’s (SBP) foreign exchange reserves dropped by another $245 million to a critically low level of $5.58 billion on Thursday, putting Pakistan’s economy in one of its worst crises in decades. Since April 2014, SBP-held reserves have never been this low. According to market rumors, the figure is anticipated to decrease even further as Pakistan pays off its debts.

The government has also struggled to restart its International Monetary Fund (IMF) bailout program while failing to obtain crucial funds from allies.

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