Blog Page 578

Interesting developments at Pharmaniaga Bhd, which through a subsidiary was awarded a lucrative concession to manufacture, purchase, store and distribute pharmaceutical and medical products to government hospitals.

The concession to privatise the Government Medical Store was originally awarded in 1994 to a subsidiary of United Engineers (M) Bhd known as Remedi Pharmaceuticals (M) Sdn Bhd. Medicine prices soared after the privatisation.

Remedi  became a subsidiary of Pharmaniaga Berhad in 1999 and was then known as Pharmaniaga Logistics Sdn Bhd.

Last December, Pharmaniaga Bhd revealed that the Public Private Partnership Unit of the Prime Minister’s Department had awarded Pharmaniaga Logistics Sdn Bhd a 10-year extension on its concession. The Privatisation Committee of the PPP Unit would negotiate the new terms and conditions of the privatisation concesion and then propose the outcome to the government for further consideration.

On 3 March 2010, however, the firm dropped a bombshell when it revealed that the Pharmaceutical Services Division of the Health Ministry, following a routine audit, had revoked the manufacturing licence of Pharmaniaga Manufacturing Berhad effective 1 March 2010.

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This is something I wrote in the wake of the defections from PKR of late:

The defections of PKR elected reps are a blow for democracy in Malaysia, but in the long-run they will provide timely lessons for all concerned.

At the last general election, many Malaysians chose to express their disgust with the BN over pervasive corruption, human rights abuses, economic hardship and the politics of divide-and-rule.

No doubt people voted for the party rather than the person, based on certain principles.