SL in contact with China, India for credit facilities to purchase drugs in forex crisis

7 January 2022 01:05 pm - 8 - {{hitsCtrl.values.hits}}

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Amidst the foreign exchange crisis, the government is exploring credit arrangements with China and India for the import of essential pharmaceuticals, a minister said.

The State Pharmaceuticals Corporation (SPC) is currently struggling, being unable to open Letters of Credit (LC) to import more than 80 essential drugs.

State Minister of Production, Supply and Regulation of Pharmaceuticals Prof. Channa Jayasumana told Daily Mirror that the current stocks of drugs would be sufficient for a few weeks, and a shortage might crop up in case LCS could not be opened.

The Minister said he held talks with the Central Bank in this regard.

“The Central Bank authorities agreed to release foreign exchange once it settles US $ 500 million of International Sovereign Bonds maturing this month. In the meantime, we are negotiating with China for a credit arrangement to purchase pharmaceuticals,” he said.

During the last month’s visit of Finance Minister Basil Rajapaksa to India, the supply of essential food items and drugs was one of the four areas agreed upon. (Kelum Bandara)

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Comments - 8

Muhandiram Friday, 07 January 2022 02:19 PM

The day we opened our economy we did not see the outcome. Now we are experiencing the bad results.

Kikazaru Friday, 07 January 2022 02:32 PM

There is not even a Panadol available in most pharmacies.

European Friday, 07 January 2022 02:56 PM

But you have Ayurvedic medicins, you don't need medicins or vaccines from Western countries.

Frustrated citizens Friday, 07 January 2022 03:00 PM

Why we need a CBSL Governor like this. He is adamant and not float dollar or go to IMF and we are suffering. Where are people we elected ?

joshua Friday, 07 January 2022 04:58 PM

Cabraal will ruin the economy before long

Ram Saturday, 08 January 2022 03:52 AM

Rajapaksas

LankanLover Saturday, 08 January 2022 12:46 PM

Result of bad governance! Greediness will ruin this nation.

june macapagal Sunday, 09 January 2022 08:45 AM

Never ending begging. Go to Africa also with your begging bowl.

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SL in contact with China, India for credit facilities to purchase drugs in forex crisis

Comments - 8

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