By Shamindra Ferdinando in The Island, July 14, 2023The Government Medical Officers’ Forum (GMOF) yesterday (13) pointed out that India couldn’t absolve itself of the responsibility for the alleged supply of low quality Indian medicines to Sri Lanka under the USD 1 bn credit line opened over a year ago. GMOF President Dr. Rukshan Bellana said so, referring to the third death due to low quality drugs reported on Wednesday (12) from the Peradeniya Teaching…
Posts tagged as “credit”
report on ECONOMYNEXT online, April 7, 2023 at 2:45 pm– Sri Lanka’s Supreme Court has temporarily suspended importation of Indian pharmaceuticals under its credit line until a further court order amid concerns over quality and safety as well as question over the legality of the procurement. The Supreme Court on Thursday (06) granted leave-to-proceed in the Fundamental Rights petition filed by Transparency International Sri Lanka (TISL), which stated serious doubts regarding the quality, safety, and…
report in Asian Age, Dhaka, Mar 19,2023Importers are not being able to open letters of credit (LCs) in Bangladesh due to dollar crisis. As a result businessmen are not being able to import necessary commodities from abroad. Under these circumstances goods of 2 trillion taka have been imported from overseas on credit. “Please give us dollars. We cannot open Letters of Credit to import raw materials.” The statement was made by a top businessman who…
report in Daily Mirror online Mar 8, 2023Sri Lanka is negotiating with India to extend a $1 billon credit line by a few months, two sources told Reuters. The credit line is to due to expire on March 17 with Sri Lanka having used only about two-thirds of it, mainly for medicines and food, said the sources and another person familiar with the matter. The extension talks come as the economy improves and forex reserves…
by Sohel Parvez in The Daily Star, Feb 14, 2023Crop protection chemical sellers in Bangladesh are facing difficulty in opening letters of credit amid banks’ lack of interest owing to the crunch of the US dollar. This raises concerns about a shortage of pesticides and other similar inputs that could affect the productivity of crops such as boro rice. The worry comes at a time when farmers are growing the boro paddy, the biggest rice…