Another health 'bill' for the consumer to foot?

AS a Sri Lankan consumer, do you feel like you’re getting value for money when you make a purchase? The same Samsung 55” 4K LED Smart-TV priced at Rs. 324,999 at Unity Plaza can be bought on Amazon in America for around Rs. 110,500. Mind you, the federal minimum wage in America is $ 7.25 (Rs. 2,200 approx.) per hour while the (recently updated) national minimum wage in Sri Lanka is Rs. 1,800 per day.

- By Devinda de Silva

But is it as easy to turn a blind eye when it's a medicinal shortage in question?

Putting things into perspective, a minimum wage worker in the US earns more per hour than their Sri Lankan counterpart does per day and can still buy three TVs in America for the cost of one in Sri Lanka! And what if it’s only going to get worse?

On 25 March 2025 at a ‘Consultation and Validation Workshop’ held at Galle Face Hotel, a strategy report commissioned by the Asia Development Bank (ADB) titled ‘Strategy for Promoting Local Production of Pharmaceutical Formulations in Sri Lanka’ was circulated (the ‘Report’).

At its core, this Report was a manifesto for economic protectionism and market isolationism cloaked in the guise of pharmaceutical self-sufficiency. Piggybacking on the fact that only 15% of Sri Lanka’s pharmaceutical requirement is met domestically, this report unabashedly advocated for restricting pharmaceutical imports not on the basis of product quality, price competitiveness or public health exigency, but solely to shield local manufacturers from fair competition. It also serves as an instruction manual to circumvent Sri Lanka’s obligations under several GATT articles.