Govt. to boost local manufacturing to meet 70% of pharmaceuticals demand

Monday, 30 October 2023 01:27 - - {{hitsCtrl.values.hits}}

New Health Minister Dr. Ramesh Pathirana unveils Govt. plan to incentivise pharmaceutical manufacturers to establish operations in SL
Claims only 20% of SL’s pharmaceutical needs are produced domestically
Says a National Policy for Industrial Development has been formulated and submitted to Finance Ministry

Minister of Industry and Health Dr. Ramesh Pathirana

By P.D. De Silva

Minister of Industry and Health Dr. Ramesh Pathirana recently unveiled the Government’s plan to incentivise additional pharmaceutical manufacturers to establish operations in Sri Lanka with the aim of enabling them to meet a minimum of 75% of the nation’s pharmaceutical demand.

Speaking at a press conference hosted at the Presidential Media Centre, Pathirana disclosed that currently, only approximately 20% of Sri Lanka’s pharmaceutical needs are produced domestically.

The Minister further said that a National Policy for Industrial Development (NaPID) has been crafted and has been submitted to the Ministry of Finance for its endorsement prior to its presentation to the Cabinet. The NaPID is intended to be incorporated into Sri Lanka’s National Policy Framework (2023-2048).

Pathirana emphasised that currently, only 0.4% of the total land area of the island is allocated for industrial purposes, and the Government’s objective is to raise this to at least 1% in the future. He also noted the inauguration of three new industrial zones in Millaniya (Kalutara district), Elpitiya (Galle district), and Poththapitiya (Kandy district). The Minister said there are plans to establish industrial zones in Aluthapola, Dambulla, Sandamalgama, Suriyawewa, Mahawa, and Wellawaya in the near future.