State Minister of Pharmaceuticals Supply and Regulation Prof. Channa Jayasumana said in Parliament today (11) that the Price Control Committee had approved a 29 percent increase in drug prices.

He also said that the Ministry of Finance has provided the necessary facilities to open letters of credit for the importation of certain drugs.

He also said that the shortage of drugs in the country was artificially created due to the retention of drugs by some vendors who thought that the prices of drugs could go up.

The Minister of State said this during the adjournment debate on the Private Member's Motion moved by the Appointed Member of Parliament Dr. Harini Amarasuriya.

Channa Jayasumana said that no one could control the price of drugs arbitrarily and that the importers had enough drugs for four months.

He said there was enough medicine in government warehouses for six months and there was no room for a shortage of drugs in the country.