Sri Lanka Ayurvedic Drugs Corporation Records Highest Profit (Rs. 195 million) in Years under New Management
The Sri Lanka Ayurvedic Drugs Corporation (SLADC) achieved its highest profit in years in 2023, recording a notable Rs. 195 million, according to State Minister of Indigenous Medicine, Mr. Sisira Jayakody. This achievement marks a significant turnaround for the SLADC, highlighting the positive impact of the new management’s strategies.
“This profit is the highest since 2017,” Mr. Jayakodi stated, emphasizing the remarkable progress made by the SLADC under its new leadership. He attributed this success to the implementation of effective measures by the new management, which have revitalized the corporation’s operations and financial standing.
Speaking at a press briefing today (02) titled ‘Collective Path to a Stable Country,’ held at the President Media Centre (PMC), State Minister of Indigenous Medicine Sisira Jayakody stated,
In celebration of the 76th National Independence Day, Sri Lanka has launched a program to cultivate 01 million indigenous herbs across the island. This national initiative will be jointly launched by the State Ministry of Indigenous Medicine, Department of Ayurveda and Ministry of Public Administration, with the aim of boosting domestic production of medicinal herbs and to reduce reliance on imports.
The program’s first phase began on 02nd February and will continue until the 07th of April. It focuses on all Grama Niladhari (GN) Divisions across the country, ensuring widespread participation and impact. This initiative recognizes the abundance of medicinal plants in Sri Lanka and aims to address the long-standing issue of importing indigenous medicines.
By promoting domestic cultivation, the program seeks to establish indigenous medicine as a viable commercial industry.
It also aims to reduce the cost of imported raw materials used in medicine production, ultimately saving valuable resources and strengthening Sri Lanka’s self-reliance in the healthcare sector.
Government-owned vacant lands are being repurposed for a novel initiative: cultivating medicinal plants. This program holds multiple benefits. Firstly, it addresses the concerns of government employees seeking higher income by offering them the opportunity to cultivate these plants, potentially earning more than their salaries. Secondly, it fosters commercial cultivation of medicinal plants, contributing to a stronger domestic supply chain and potentially boosting profits.
This initiative is further bolstered by the success story of the Ayurvedic Drugs Corporation. Once incurring losses, it achieved a remarkable turnaround under new management, securing a profit of Rs. 195 million in 2023. This serves as a powerful example of transforming a burden into a thriving entity, demonstrating the potential of efficient management and innovative approaches.
“Furthermore, there is a need to enhance the traditional indigenous medicine system in order to boost the revenue of our tourism industry. By incorporating the indigenous medical system, we can maximize the profitability of the existing tourist hotels in our country. It is observed that tourists visiting our country tend to spend less money and often only visit a particular destination once or twice without returning”.
“However, if we introduce tourists seeking Ayurvedic treatment to the indigenous therapeutic system, they will be compelled to visit our country at least six or seven times for their treatments. This will result in a significant influx of foreign exchange, benefiting the country economically”, the state minister explained.
Indigenous medicine systems hold a wealth of knowledge about healthy green living and traditional healing practices. Integrating these practices into our tourism offerings presents a unique opportunity to contribute to the country’s economic development while promoting well-being. By showcasing our rich heritage of medicinal plants, healthy cuisine, and traditional treatments, we can attract tourists seeking holistic wellness experiences.
The Ayurvedic Drugs Corporation’s “Bodymantra” massage system exemplifies the potential of indigenous medicine. This unique massage therapy leverages the wisdom of Ayurveda to prevent various ailments, setting it apart from conventional massage techniques offered elsewhere. By promoting such innovative approaches, we can position ourselves as a leader in integrative healthcare tourism, State Minister Jayakody stated.
