All pending procurements for purchasing medicine from India under the Indian credit line will be completed in January, according to the State Pharmaceuticals Corporation (SPC).

Speaking to The Sunday Morning, SPC Managing Director Dinusha Dasanayake stated that the credit line, set to expire by the end of March, necessitated the completion of all pending procurements before the end of January to ensure the process would conclude by March.

India extended a $ 1 billion credit line to Sri Lanka by one year in March, part of approximately $ 4 billion in emergency assistance provided during the peak of Sri Lanka’s financial crisis last year. 

Initially scheduled to conclude in March, the credit line was extended until March 2024 after negotiations.

The initial agreement, signed in March 2022, allocated $ 1 billion, with materials imported for $ 576.75 million. The agreement was subsequently extended for the remaining $ 423.25 million.

In the meantime, the National Medicines Regulatory Authority (NMRA) confirmed that no pending medicine shipments requiring the institution’s approval were present at the Colombo Port.

NMRA Chairman Dr. Ananda Wijewickrama, speaking to The Sunday Morning, noted that all approvals for pending shipments had been completed on Friday (29) and there were now no shipments awaiting NMRA approval at the port.

The SPC received confirmation from the NMRA that pending shipments had been cleared by Friday (29) evening and that documents would be checked on Monday (1).

Despite health sector unions claiming a shortage of nearly 200 medicines, authorities maintain that the current shortage is only around 60-70 medicines and that all vital medicines are available.