In the middle of the COVID-19 pandemic, encompassed by regularly increasing cases India’s National Pharmaceuticals Pricing Authority has decided to price cap on Liquid Medical Oxygen.
Taking consideration of increasing numerous cases daily, the rise in demand for liquid oxygen is to treat large number of COVID-19 patients, and the manufacturers had begun to hike up prices.
The decision on capping the liquid oxygen was to ensure a supportive and supply of oxygen for COVID-19 patients.
As per John Hopkins working in the coronavirus resource centre, India has reported more than 5.5 million positive coronavirus cases and over 90,000 deaths.
The pandemic which saw its first outbreak in a market in Wuhan, China has now spread and accounted all across the world.
The virus, named COVID-19 by the WHO has infected over 32 million people worldwide with the global death toll reaching over 979,000.
This decision was taken in account and concern after it was brought to the ministry’s attention that oxygen transport vehicles are facing issues.
The ministry has issued and announced notification for exemption of permit requirements for these vehicles under Section 66 of the Motor Vehicles Act 1988.
Accordingly, it has decided to cap the price of Liquid Medical Oxygen at manufacturers end at Rs. 15.22/CUM exclusive of GST.
Besides this, government has also decided to cap the ex-factory cost of medical oxygen cylinder at filler end at Rs 25.71/CUM exclusive of GST subject to transportation cost fixation at the state level, for six months.