Dollar crisis to lead to pharmaceutical crisis?; Industry urges immediate solutions

COLOMBO (News 1st); Sri Lanka's Pharmaceutical Industry warns that the forex crisis will pose a serious threat to the imports of essential medicines and medical equipment.

Adrian Basnayake, the Former President of the Sri Lanka Chamber of the Pharmaceutical Industry (SLCPI) told reporters that Banks are not forthcoming to open Letter of Credit to pharmaceutical importers due to the dollar crisis.

"Without LCs, we cannot import pharmaceuticals from our suppliers. This will affect a plethora of medicines that are vital for Sri Lanka," he said.

He warned that there could be a serious shortage of important pharmaceuticals in the coming months.

Azam Jaward, the Vice-President of the Sri Lanka Chamber of the Pharmaceutical Industry (SLCPI) said the medicines are only available for the next two to three weeks and if the situation is not addressed, the country will face a serious crisis with regard to pharmaceuticals.