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HLL Lifecare Ltd Signs Agreement with Maldives' STO to Supply Essential Medicines Under PMBJP Initiative.

MOUs and Agreement | Dated: 15 May 2025

In May 2025, HLL Lifecare Limited, a Government of India (GoI) enterprise under the Ministry of Health & Family Welfare (MoH&FW), signed a strategic agreement with the State Trade Organisation Plc (STO), a Government of Maldives enterprise responsible for the import and distribution of essential goods.

🎯 Key Highlights:

  • - The agreement was signed under the Pradhan Mantri Bhartiya Janaushadhi Pariyojana (PMBJP), GoI’s flagship initiative aimed at providing affordable, high-quality medicines to the public.
  • - Under this agreement, India has pledged its support to the Maldives by ensuring the supply of essential medicines through HLL Lifecare Limited.

💡 Other Important Facts:

  • (i) PMBJP was launched in November 2008 by the Department of Pharmaceuticals (DoP) under the Ministry of Chemicals & Fertilizers (MoC&F), in collaboration with Central Pharma Public Sector Undertakings (PSUs).
  • (ii) The GoI has extended its financial support to the Maldives via the rollover of a USD 50 million Treasury Bill for another year. This highlights the strong bilateral ties and supports the Maldives’ ongoing fiscal reforms.
  • (iii) State Bank of India (SBI), headquartered in Mumbai, Maharashtra, and India’s largest Public Sector Bank, has subscribed for one more year to a USD 50 million Government Treasury Bill issued by the Ministry of Finance (MoF) of Maldives, at the request of the Government of Maldives.

📚 Test Your Knowledge:

Recently, which Indian government enterprise signed an agreement with Maldives' STO to supply essential medicines?

Correct Answer: HLL Lifecare Ltd

🚀 Quick Recap:

About Maldives

  • President: Mohamed Muizzu
  • Capital: Malé