Video: Pharmaceuticals categorised as a special commodity

12 March 2014 01:15 pm - 3 - {{hitsCtrl.values.hits}}

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Pharmaceuticals have been categorized as a special commodityand as such it is compulsory for importers to obtain the approval of the Consumer Affairs Authority (CAA) before increasing prices,the Ministry of Cooperatives and Internal Trade said today.

Cooperatives and Internal Trade Minister Johnston Fernando, who made this announcement at a media conference, said he had issued a gazette notification to this effect on March 4 using the powers vested in him under the Consumer Affairs Authority Act.

He said pharmaceuticals would fall under the category of other essential items such as gas, fuel and milk food.

The minister said this decision was taken by the government to avoid pharmaceutical importers from making exorbitant profits with some of importers even keeping a profit margin of as much as 800 percent on certain drugs.

He said the decision was taken after discussions with the health authorities including Health Minister Maithipala Sirisena.

The minister said plans were afoot to control the prices of locally manufactured Pharmaceuticals as well and would hold discussions with local drug manufacturerson this matter. (Yohan Perera and Sanath Desmond)

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Comments - 3

Roadrunner Wednesday, 12 March 2014 11:55 PM

Govt impose another indirect tex.

C.K.Lankaputhra Thursday, 13 March 2014 01:36 AM

Good business for the Minister. Pharmaceutical dealers must be very happy now. We know very well the manipulation done for Milk foods. Where is this country heading to?

KALA Friday, 14 March 2014 03:47 AM

ONLY MEDICAL DRUGS HAS NOT BEEN INCREASED SO FAR NOW THAT ALSO GOING TO INCREAS

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Video: Pharmaceuticals categorised as a special commodity

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