• “It was an artificial shortage created due to hoarding of stocks”
• “This situation would ease by the weekend”

By Ajith Siriwardana and Yohan Perera   

The special Pricing Committee chaired by Dr. Palitha Abeykoon, which met yesterday, granted approval to increase price of medicines by 29 percent, considering the increase of the US Dollar against the rupee,” State Minister said yesterday.   

He told Parliament that pharmaceutical importers had requested for a price increase for pharmaceutical items due to the increase in the rate of the US Dollar against the rupee in the past two days.  He said there was a shortage of drugs during the last few days as traders, distributors and importers either hoarded the stocks or stopped distribution thinking that drug prices would go up.  

“It was an artificial shortage created due to hoarding of stocks or hoarding of distribution. This situation would ease by the weekend,” he said.  

The Minister said there would be no imminent shortage of drugs as private importers have informed that drugs sufficient for four months were available in stocks and the State Pharmaceutical Corporation (SPC) was in possession of drug stocks sufficient for six months.  

He said the Finance Ministry yesterday provided facilities to open LCs to import drugs. 

• Private importers have informed that drugs sufficient for four months  were available in stocks and the SPC was in  possession of drug stocks sufficient for six months.
• The Finance Ministry yesterday provided facilities to open LCs to import drugs