Govt. planning to boost private pharmaceutical manufacturing: Basil

The Government is drawing plans to allow private investors to build export quality pharmaceutical manufacturing facilities in Sri Lanka in the coming years. 

At present, the Government spends a large amount of foreign currency to import 85% of the pharmaceutical needed by Sri Lanka, the Prime Minister’s Media said in a statement. 

Presidential Task Force for Economic Revival and Poverty Reduction Chairman Basil Rajapaksa during a meeting outlined the country’s ambitions.  

The move comes in the backdrop of the Government’s aim to meet the domestic pharmaceuticals capacity and to export within the next five years. Rajapaksa had indicated the Government’s plans at a meeting of industry specialists and officials from relevant ministries last afternoon.  Issuing a press release, Rajapaksa stated that if Sri Lanka as a leading exporter of readymade garments, should be able to become an exporter of pharmaceuticals in five years if properly supported.