manusath-derana

SPC to get Rs.14bn long-term loan from state banks

May, 29, 2020

The cumulative debt of the State Pharmaceuticals Corporation (SPC) was Rs.14 billion by end of December 2019. Hence, currently there are problems with importing pharmaceuticals.

Accordingly, Cabinet on Wednesday (28) approved the proposal presented by Health Minister Pavithra Wanniarachchi to provide a long-term loan to the State Pharmaceuticals Corporation through People's Bank and Bank of Ceylon and to settle the loan by the Treasury.

Accordingly, the two State banks would extend loans of Rs. 6 billion each, which will be used to settle the most urgent bills.