27 March 2021 12:07 am Views - 392
The Government is targeting to manufacture one third of medicinal drugs locally by 2024 and thereby save about Rs. 60 billion annually, Government spokesman, Mass Media Minister Keheliya Rambukwella said.
The Government’s annual bill to import pharmaceuticals is Rs.130 billion, he added. To meet this target, the Government has decided to establish Pharmaceutical Manufacturing Zones (PMZ) in many parts of the country as private-public partnership ventures to manufacture medicinal drugs for domestic use and also to export, he said. Minister Rambukwella said the Government has already taken steps to set up a PMZ at Oyamadu in Anuradhapura. Land plots will be leased to selected local investors for a period of 35 years with a released period for the first five years. 85% of the country’s drug requirement is met through imports at an annual cost of Rs.130 billion.
An Investment Zone of 400 acres will also be established in the Hambantota Industrial Zone for manufacturing medicine, targeting the global market. The world’s topmost pharmaceutical companies have already expressed their inclination to join this venture.