Press briefing of Cabinet Decision taken on 2016-11-15

Joint Ventures of Private Public Partnership initiative for the expansion of the local Pharmaceutical manufacturing industry

- A large quantity of the required pharmaceuticals to the country is imported and the Government has to incur a large amount of foreign exchange in this regard, annually. As a remedial measure to overcome this situation, it has been proposed to initiate Joint Venture projects for the expansion of the local pharmaceutical manufacturing industry. As such, in accordance with the recommendations of the Officials' Committee appointed to examine the matter, the proposal made by Hon. (Dr.) Rajitha Senaratne, the Minister of Health, Nutrition and Indigenous Medicine, to promote investors, to initiate joint ventures with the State Pharmaceutical Corporation for manufacturing of Pharmaceuticals of good quality at a minimum cost, was approved by the Cabinet.