Govt to revise MRP prices for over 60 drugs after rupee devalued

The government has decided to impose a new Maximum Retail Price (MRP) for over 60 drugs in keeping up with the adjusted dollar rate. 

The State Ministry of Production, Supply and Regulation of Pharmaceuticals is to issue a new gazette today detailing the new prices for some 60 drugs. 

The prices of the drugs would be increased keeping up with the dollar rate after the Central Bank revised the dollar exchange rate. 

State Minister Prof Channa Jayasumana told Times Online that he had discussed with the health ministry and informed the pharmaceutical companies about the price hike.

On Monday, Sri Lanka’s rupee was devalued against the US dollar pegging the US currency to Rs.230 per dollar. It was earlier Rs.203 for a considerable number of months.

In announcing this significant devaluation of the rupee, the Central Bank said it was the view that forex transactions would take place at levels which are not more than Rs. 230 per US dollar.

The rupee has been stuck at Rs.203 for several months despite pressure mounting on the Central Bank to adjust the currency to realistic levels. The black market rate for a dollar was Rs.240 to Rs.260 which resulted in migrant workers using this channel to send money back to their families.