News

Pharma industry seeks 18% price increase

Published

4 years ago

2022/03/10

Sahan Weerasooriya

Talks likely between NMRA and SLCPI

By Shamindra Ferdinando

The Sri Lanka Chamber of Pharmaceutical Industry (SLCPI) has reiterated its call for a price revision in the wake of further deterioration of the dollar supply. About 85% of pharmaceutical products are imported.

Minister Rambukwella turned down SLCPI request during talks with a delegation from the outfit in January this year. However, the SLCPI had taken up the issue again close on the heels of the adjustment of the price of paracetamol, a spokesperson for the grouping told The Island.

“We expect an urgent upward price adjustment of 18% on all price controlled products in terms of a written request made to the Chairman of the pricing committee of the National Medicines Regulatory Authority (NMRA) on Sept.01, 2021,” the spokesperson said.

“Paracetamol is widely used to treat symptoms of the Omicron variant and Dengue, both of which are growing health concerns in the country. An increase in the controlled price makes it possible for importers and local manufacturers to ensure that the drugs do not go out of stock in pharmacies,” the spokesperson said. It will now cost Rs. 2.30 per tablet, up from Rs. 1.71 – a 35% increase.

The Island yesterday (09) sought the NMRA’s response to SLCPI’s written request. A senior spokesperson for NMRA told The Island that though the request made by SLCPI had been turned down earlier, they were prepared to discuss the issue at hand now . The depreciation of the Rupee has compelled NMRA to review the pricing formula.

The yahapalana government imposed price controls on all essential drugs in October 2016.

The SLCPI, in a recent statement explained the deepening forex crisis. “There is no solution to this dilemma than removing the price control of medicines and implement a fair and equitable pricing mechanism which will link the price of medicines to the dollar, inflation and direct costs such as raw material, fuel and freight charges, which will then make importing and marketing of medicines viable. As difficult as it may sound, the authorities will have to choose between having medicines at a cost and not having medicines at all.”

The SLCPI has warned that unless necessary price adjustments were done immediately lifesaving drugs wouldn’t be available in the market.

SLCPI represents about 60 enterprises which accounted for more than 80% of the private pharmaceutical industry, spanning manufacturers, importers, distributors and retailers.

Medicine remained the only items on price control after the current dispensation abolished price controls on an entire range of local and imported essential food and other requirements, including petroleum products.

Sources said that since the SLCPI’s request made in Sept 2021, the situation has taken a drastic turn with the growing shortage of almost all imported items due to cash flow problems.

The Island learns that a meeting between the NMRA and SLCPI was likely to discuss ways and means of addressing the issues at hand. Contrary to various claims, reports and speculation Sri Lanka largely depend on imports therefore revision of pricing formula couldn’t be delayed further.

Sources pointed out that the Central Bank devalued Rupee on Monday (7) setting an exchange rate limit of Rs 230 per USD as the situation deteriorated further against the backdrop of volatile crude oil market caused by the Russian invasion of Ukraine.

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President and Exco of Sri Lanka Cricket step down

Published

13 hours ago

2026/04/29

Priyan

Sri Lanka Cricket has announced today (29) that the President of Sri Lanka Cricket and members of the Executive Committee have tendered their resignations.

The decision has been formaly communicated to President Anura Kumara Dissanayake and the Minister of Youth Affairs and Sports.

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Heat Index at Caution Level in the Northern, North-central and North-western provinces and in Kegalle, Trincomalee and Batticaloa districts during the day time

Published

20 hours ago

2026/04/29

Priyan

Warm Weather Advisory
Issued by the Natural Hazards Early Warning Centre
Issued at 3.30 p.m. on 28 April 2026, valid for 29 April 2026.

The Heat index, the temperature felt on human body is likely to increase up to ‘Caution level’ at some places in the Northern, North-central and North-western provinces and in Kegalle,
Trincomalee and Batticaloa districts during the day time.

The Heat Index Forecast is calculated by using relative humidity and maximum temperature and this is the condition that is felt on your body. This is not the forecast of maximum temperature. It is generated by the Department of Meteorology for the next day period and prepared by using global numerical weather prediction model data.

Effect of the heat index on human body is mentioned in the above table and it is prepared on the advice of the Ministry of Health and Indigenous Medical Services.

ACTION REQUIRED
Job sites: Stay hydrated and takes breaks in the shade as often as possible.
Indoors: Check up on the elderly and the sick.
Vehicles: Never leave children unattended.
Outdoors: Limit strenuous outdoor activities, find shade and stay hydrated.
Dress: Wear lightweight and white or light-colored clothing.

Note:
In addition, please refer to advisories issued by the Disaster Preparedness & Response Division, Ministry of Health in this regard as well. For further clarifications please contact 011-7446491.

News

Treasury chief’s citizenship details sought from Australia

Published

21 hours ago

2026/04/29

Sahan Weerasooriya

Nagananda / Harshana

New controversy erupts over missing USD 2.5 mn:

Public interest activist Nagananda Kodituwakku has sought citizenship details of Finance Ministry Secretary Harshana Suriyapperuma from the Department of Home Affairs, Australia.

According to a letter dated 28 April, addressed to the relevant department, Solicitor England and Wales Kodituwakku sought the required information in terms of Section 15 of the Freedom of Information Act No 3 of 1982 of Australia. Suriyapperuma is also the Secretary to the Treasury.

The former Deputy Minister of Finance and Planning Suriyapperuma (from November 2024 to June 2025) is embroiled in a deepening controversy over the theft of USD 2.5 mn from the Treasury.

The leader of the Vinivida Foundation said that he intended to move court against Suriyapperuma for entering Parliament through the NPP National List in violation of the country’s Constitution (Article 91(1)(d)(xiiii).

Kodituwakku said: “This is clearly an accountability and integrity issue and violation of the Constitution of Sri Lanka and also this act contravenes the law of a member in the Commonwealth.”

USD 2.5 mn paid to a third party was meant to be an instalment of a loan taken from Australia. Suriyapperuma neither responded to an SMS nor answered his hand phone.

Geetha Kumarasinghe (UPFA/Galle District) and Diana Gamage (SJB National List) lost their seats in 2017 and 2024, respectively, over citizenship issues.

Meanwhile, public interest group ‘Free Lawyers’ that exposed the theft of Treasury funds questioned the failure on the part of Dr. Harsha de Silva, Chairman of Committee on Public Finance (CoPF), to pressure President Anura Kumara Dissanayake to temporarily remove Suriyapperuma to facilitate unhindered investigations.

On behalf of ‘Free Lawyers’, Rajith Keerthi Tennakoon yesterday expressed concern over the way the CoPF, under SJBer de Silva’s leadership, handled the issue at hand. Issuing an open letter, Tennakoon, urged the CoPF chief to explain his stand on a spate of vital issues which needed to be addressed without any further delay.

By Shamindra Ferdinando