Press briefing of Cabinet Decision taken on 2017-09-12

The Establishment of Public-Private Joint Ventures for the upliftment of the Pharmaceutical Industry of Sri Lanka

- With the upliftment of the Pharmaceutical Industry of Sri Lanka, a considerable amount of foreign exchange used for the import of pharmaceuticals could be saved and it would also pave the way for keeping the prices of pharmaceuticals stable. Therefore, the Government has planned to identify investors with the possibility of making an uninterrupted supply of fresh and high quality Pharmaceutical items effectively to the Government Hospitals and establish joint ventures between such investors and the State Pharmaceutical Manufacturing Corporation.

As such, the Cabinet Appointed Negotiation Committee has recommended to accept the 31 proposals out of the 36 proposals submitted by 24 investors who have responded. Accordingly, the proposal made by Hon. (Dr.) Rajitha Senaratne, the Minister of Health, Nutrition and Indigenous Medicine, to implement the accepted proposals with the selected investors to commence Joint Ventures on the Public-Private-Partnership basis subject to the recommendations of the Officials' Committee appointed headed by the Secretary to the Treasury, was approved by the Cabinet.