|Tuesday, 27 April 2004|
SPMC privatisation halted
by Bharatha Malawaraarachchi
The Healthcare and Nutrition Minister Nimal Siripala de Silva has directed officials to halt the privatisation of the State Pharmaceutical Manufacturing Corporation (SPMC) with immediate effect.
The Minister's directive comes in the wake of a process initiated by the previous regime to privatise the SPMC despite the fact that it was recording profits, a Ministry spokesman told the Daily News.
The Corporation manufactures around 57 essential pharmaceutical items mainly for the use of Government Hospitals.
It is estimated that nearly 110 items of drugs are used daily in Sri Lanka. He said the process initiated by the previous Government intended to privatise 40 per cent shares of the SPMC.
Produced by Lake House