Cabinet nod for establishment of pharmaceutical manufacturing zone

400 acres of the Arabokka Estate in Hambantota has been specially reserved for this project to be established with modern facilities  

By Sandun A. Jayasekera 

The cabinet on Monday (09) gave approval for the establishment of an especially reserved zone for pharmaceutical manufacturing within the Arabokka Estate in Hambantota, Co-Cabinet spokesman, Plantation Industries Minister Ramesh Pathirana said yesterday.   

The Presidential Task Force for the economic revival and eradication of poverty has identified the pharmaceutical manufacturing industry as one of the industries that can attract direct foreign investments as well as for potential foreign exchange. Therefore, it has been planned to establish a special pharmaceutical manufacturing zone with modern facilities within an extent of 400 acres of the Arabokka Estate in Hambantota so that leading pharmaceutical companies in the world would invest, Minister Pathirana said.   

“The cabinet took this decision considering the huge foreign exchange incurred annually to import medicinal drugs and the current Covid-19 pandemic. In 2019 alone, the Health Ministry imported medicinal drugs to the tune of Rs. 52 billion,” Minister Pathirana stressed.   

Declaring it as a strategic development project, it is expected to provide applicable relief and encouragement for the investors to step forward to invest in this pharmaceutical manufacturing zone, he added.   

Accordingly, the Cabinet approved the resolution submitted by the Minister of Health Pavithradevi Wanniarachchi for the establishment of 20 pharmaceutical manufacturing companies within 200 acres as the first step of this project and 20 pharmaceutical manufacturing companies within 200 more acres as the second step of this project, as well as to furnish necessary infrastructure facilities by the Sri Lanka Board of Investment.   

The cabinet took this decision considering the huge foreign exchange  incurred annually to import medicinal drugs and the current Covid-19  pandemic