Press briefing of Cabinet Decision taken on 2018-05-09

Establishment of Joint Ventures by the State Pharmaceuticals Manufacturing Corporation (SPMC) of Sri Lanka with investors to promote the manufacturing of pharmaceuticals

With the uplifting of the pharmaceutical manufacturing industry in Sri Lanka, a considerable amount of foreign exchange incurred for the import of pharmaceuticals, could be saved. Hence, approval of the Cabinet has been granted to identify the investors with the potential of supplying pharmaceuticals of high quality to the Government Hospitals in an efficient manner and to establish Joint Ventures between the investors and the State Pharmaceuticals Manufacturing Corporation of Sri Lanka. With a view to granting legal authority to the State Pharmaceuticals Manufacturing Corporation of Sri Lanka, to enter into the Joint Ventures, the proposal made by Hon. (Dr.) Rajitha Senaratne, the Minister of Health, Nutrition and Indigenous Medicine, to amend the orders issued under the State Industrial Corporations Act, No.49 of 1957, published in the Gazette Extraordinary Notification No.456/21 dated 1987‑07‑04, as recommended by the Attorney General, was approved by the Cabinet.