Approval has been granted to increase medicine prices by 29 percent.
Approval was granted by the Price Control Committee of the National Medicines Regulatory Authority.
The Committee comprising 13 experts is chaired by Dr. Palitha Abeykoon.
State Minister of Production, Supply and Regulation of Pharmaceuticals Channa Jayasumana speaking in Parliament today said pharmacies created an artificial shortage of medicine by concealing stocks, and expressed hope that the shortage will be addressed over the weekend.
The State Minister said businessmen withheld medicine in the hope of a price hike, adding that such a shortage cannot continue either.
State Minister Jayasumana said the US dollar was selling at Rs.203 and has today increased to Rs.260 claiming a price hike in medicine was inevitable.
Therefore he noted that approval was granted to a 29 percent increase.
The State Minister said the government will ensure that the public is not inconvenienced by the price revisions.