brand logo

Plans to import drugs via Indian credit line

18 Jan 2022

BY Buddhika Samaraweera The Production, Supply, and Regulation of Pharmaceuticals State Ministry has planned to purchase drugs imported from India to Sri Lanka under a credit line which is to be provided by India, while the raw material required for the production of pharmaceutical drugs locally which are imported from China will be purchased under another credit line from China, The Morning learnt. Speaking to The Morning yesterday (18), State Ministry Secretary Dr. S.K. Rathnayake said: “Two credit lines are to be provided by China and India in the near future. At present, most of the drugs are being imported to Sri Lanka from India. We therefore hope to purchase those drugs with the credit line from India.” In addition, he said that the State Pharmaceuticals Corporation (SPC) usually imports the raw material required for most of the drugs manufactured in Sri Lanka from China. According to him, such raw material needed for the production of drugs locally will be purchased under another credit line which will be provided by China. Dr. Rathnayake further said that the Finance Ministry has been informed of what is required to be purchased under the relevant credit facilities. However, when questioned whether there is any specific timeframe during which the said credit lines will be finalised, he said that he was not aware of it. “No date has been set yet. The relevant arrangements are being made through the Finance Ministry,” he added. Amidst warnings of a shortage of pharmaceutical drugs in Sri Lanka looming due to the ever-worsening foreign exchange crisis, the Government has decided to import a particular drug only when the existing stocks of that drug in Sri Lanka begin depleting, The Morning reported last week. Dr. Rathnayake, on 12 January, told The Morning that steps have been taken to import drugs according to a list of priorities, so that there will be no shortage. “Due to the current shortage of US dollars in the country, there is a delay in issuing letters of credit (LCs) for almost all imports. Therefore, in general, there is this risk associated with all imports, including food stuffs, and in the case of drugs too. As a remedy, we have compiled information as to the stocks of which drug will end in two months and which will end in three months and so on,” he said. When queried whether abandoning the established practice of drug estimates being prepared for the whole year would not result in a shortage in the months ahead, Dr. Rathnayake said that not all the drugs are required at once despite the usual full-year estimate. Therefore, he said that the most needed drugs have been identified and that the State Ministry has requested the general Treasury and the Central Bank of Sri Lanka (CBSL) to instruct the banks to issue LCs to import such drugs. The College of Medical Laboratory Science (CMLS) on 10 January warned of a shortage of about 80 types of essential medical drugs in the near future due to the non-issuance of LCs for the purchase of drugs relevant to the annual drug estimates for 2022. Speaking to The Morning, CMLS President Ravi Kumudesh claimed that a number of drugs such as those used for cancers, kidney, and heart-related diseases, paediatric drugs, and antibiotics would be in short supply in the near future.

Kapruka

Discover Kapruka, the leading online shopping platform in Sri Lanka, where you can conveniently send Gifts and Flowers to your loved ones for any event. Explore a wide range of popular Shopping Categories on Kapruka, including Toys, Groceries, Electronics, Birthday Cakes, Fruits, Chocolates, Automobile, Mother and Baby Products, Clothing, and Fashion. Additionally, Kapruka offers unique online services like Money Remittance, Astrology, Medicine Delivery, and access to over 700 Top Brands. Also If you’re interested in selling with Kapruka, Partner Central by Kapruka is the best solution to start with. Moreover, through Kapruka Global Shop, you can also enjoy the convenience of purchasing products from renowned platforms like Amazon and eBay and have them delivered to Sri Lanka.Send love straight to their heart this Valentine's with our thoughtful gifts!

Discover Kapruka, the leading online shopping platform in Sri Lanka, where you can conveniently send Gifts and Flowers to your loved ones for any event. Explore a wide range of popular Shopping Categories on Kapruka, including Toys, Groceries, Electronics, Birthday Cakes, Fruits, Chocolates, Automobile, Mother and Baby Products, Clothing, and Fashion. Additionally, Kapruka offers unique online services like Money Remittance, Astrology, Medicine Delivery, and access to over 700 Top Brands. Also If you’re interested in selling with Kapruka, Partner Central by Kapruka is the best solution to start with. Moreover, through Kapruka Global Shop, you can also enjoy the convenience of purchasing products from renowned platforms like Amazon and eBay and have them delivered to Sri Lanka.Send love straight to their heart this Valentine's with our thoughtful gifts!


More News..