Reduction of Economic Burden on State Exchequer by Using Various International Legal Flexibilities under TRIPS Agreement 1994 of WTO
DOI:
https://doi.org/10.26710/reads.v4i1.281Keywords:
TRIPS Agreement, WTO, Economic burdenAbstract
During budget year 2016-17, public spending on procurement of medicines in Pakistan surged 29% touching an exorbitant figure of PKR 7.5 billion (Health Budget, 2016-17)Volume of provincial expenditure on medicine almost doubled rising to PKR 1.02 billion from 0.67 billion in last budget year 2015-16. Growing sum of public spending on medicine procurement has many factors such as poverty, money devaluation, indigenous production incapacity, and less developed standards of research and development. Apart from all enumerated above, global pharmaceutical patent protection regime under TRIPS Agreement, initiated by WTO, plays a pivotal role increasing public spending on procurement of medicines in developed and least developed countries. This work presents ways for reducing economic burden on state exchequer by exploiting maximum possible flexibilities under WTO regime to procure cost effective medicines. The work will be done in three parts; explaining Pakistan role and status in global pharmaceutical patent protection regime, existing challenges, and potentials for the country to save public spending on health using international legal agreements under WTO.
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