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20% of apparel factories face 3-month closure after December!

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Chairman of the Free Trade Zone Manufacturers’ Association – Mr. Dhammika Fernando says that around 20% of the large-scale garment factories in Sri Lanka has decided to close for a period of one to three months, after the December holidays.

He also adds that around 50% of small and medium scale factories have already been closed.

Mr. Fernando states that the income of investors in the garment industry has fallen by 25% due to increased costs and a fall in orders.

In this backdrop, many local investors are looking into the possibility of investing in other countries, he added.

Some investors have arranged for workers to be compensated and laid off. Around 10% of large scale companies have apparently done so.

Meanwhile, it is also reported that some company owners have asked their employees to stay home while paying them either partially or in full.

Mr. Fernando sys that some factories are only open for 4 days a week, while some are open every other week.

In addition to the above mentioned woes, the inability to secure a suitable price for their products have also affected the income levels, according to industry experts.

Mr. Fernando also mentioned that Sri Lankan garment exporters are unable to compete with other countries cost wise.

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5,000 workers lose jobs over apparel factory closure!

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FTZ Union requests Govt. to collar bigtime tax evaders

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Wijedasa requests Speaker to summon key officials of JSA

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Justice Minister Wijeyadasa Rajapakshe has formally requested the Speaker to summon key officials of the Judicial Service Association (JSA) to the Committee on Privileges. 
This follows a JSA statement, which the Minister alleges, has breached his parliamentary privileges.

In a letter addressed to the Speaker, Minister Rajapakshe highlighted his concerns regarding the recent statement made by the Chairman and Secretary of the JSA.

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Five-member judge bench appointed to hear ex-Navy chief’s writ

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The Court of Appeal has decided for the writ petition filed by former Sri Lanka Navy Commander Wasantha Karannagoda over the alleged abduction of 11 youths in 2008 and 2009, to be taken up for hearing before a five-member judge bench.

The former Navy Chief has filed the relevant petition seeking an order preventing the hearing of a case filed before the Colombo High Court against him and several others, related to the alleged abduction of 11 youths in Colombo and its suburbs in the 2008 and 2009.

Accordingly, the petition will be taken up for hearing before a five-member judge bench comprising Justices Menaka Wijesundera, Sampath B. Abeykoon, Mayadunne Corea and Chamath Morais on September 25, 2024.

The petitioner’s attorney has alleged through this petition that despite the investigations into the case stretching out for 10 years and statements being recorded from over 150 persons, the police had failed to uncover evidence to prove his client guilty of abducting and killing the said 11 youths.

(adaderana.lk)

 (This story, originally published by adaderana.lk has not been edited by SLM staff)

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Rulers can’t decide whether country isn’t bankrupt anymore – Sajith

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Opposition leader Sajith Premadasa has slammed the government, saying that rulers themselves cannot decide if the country is bankrupt any longer.

He said that making the relevant  decision is up to international rating agencies, and they are yet to find the country eligible to be so.

“When the debt repayment system is prepared, the international rating companies such as Fitch, Moody’s, and Standard and Poor’s, will use the financial data to declare whether our country is bankrupt or not because our country has entered into a debt repayment system,” he pointed out. 

“One of the reasons for the decline of this country is the deception, desperation and trickery of the people. The people of a bankrupt country should pay attention to the information and data provided by international financial rating agencies which decide whether the country is bankrupt or not,” he added.

Mr. Premadasa was speaking after donating smart classroom equipment to St. John’s College, Kalutara yesterday (June 24).

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