FM says production of oxygen, Remdesivir being ramped up

Finance Minister Nirmala Sitharaman assured “seamless supply” to states with respect to a phenomenal increase in the demand of medical oxygen. She said the government took measures like importing medical oxygen, round the clock working of the oxygen filling stations and allowing containers used for nitrogen and argon to be used for oxygen.

The Finance Minister also shared the government’s plan to ramp up the capacity of Remdesivir from 36 lakh vials per month to 78 lakh vials per month. Some of these measures include rapid clearances for new capacities, stopping exports, stopping the exports of APIs and formulations used in the manufacture of this life-saving drug, and allowing EoUs and manufacturers located in SEZs to also sell in the domestic market, she added.

The FM made the comments while addressing more than 150 senior industry captains in a virtual interaction organised by the Confederation of Indian Industry (CII) on Wednesday.

During the interaction, CII members manufacturing Remdesivir apprised the Finance Minister that they were in fact working towards exceeding the committed target of 78 lakh vials per month and aiming to reach a production of 1 crore vials per month.

Elaborating on the recent announcements on the vaccination, the FM said that the CII’s suggestions on opening up of the vaccination to all adults, allowing industry to vaccinate its employees and their families and allowing vaccine imports have all been accepted in the policy. The government has also cleared an advance payment of Rs 4,600 crore to Serum Institute of India and Bharat Biotech, to help them ramp up capacities.

Uday Kotak, President CII and Managing Director & CEO, Kotak Mahindra Bank Limited in his opening remarks lauded the speed of the government’s policy action, for tackling the COVID-19 pandemic, over the last 72 hours. Kotak emphasised on the importance of vaccination and doing whatever it takes to ramp up vaccination. He also emphasised on ensuring adequate supplies of oxygen, medicines and beds in the immediate term. Times Now News