Sri lanka News – Sri Lanka’s diesel shortage has hit manufacturers which are finding it difficult to take worker to factories transport products out, on top of power cuts, the islands apparel export association has said as money is printed to keep interest rates down.
“The fuel shortage is having a massive impact on our day-to-day production,” Secretary General of the Joint Apparel Association Forum (JAAF) Yohan Lawrence said.
“We are unable to use our generators during power outages because of the lack of diesel. To add to this, fuel shortages are affecting our ability to transport our goods and provide staff transport for our employees.”
Forex shortages have also been worsened by a surrender rule, requiring banks to sell 50 percent of dollars bought from exporters and expat workers to the central bank.
The JAAF said order books are full but factories including a number of small and medium industries are already shutting down as they are unable to operate due to prolonged power cuts and lack of diesel.
This week Board of Investment run export processing zones were also getting power cuts. (Colombo/Apr01/2022)