It is reported that Mr. Dhammika Fernando, Chairman of the Federation of Free Trade Zone Investors, has said that twenty percent of some large-scale garment factories have been closed for a period of three months after December.
He also claims that about fifty percent of the small and medium scale factories have been closed.
He also says that the income of investors in the garment sector has fallen by 25% due to the decrease in orders received from Sri Lanka and the increase in costs. He also claims that some local investors are looking into the possibility of investing in other countries based on this situation.
He said that some investors have paid compensation to employees and fired them, and so far about 10 large-scale companies have fired workers in this way.
In the meantime, some company owners have given their employees full or half salary and kept them at home, and some factories are working only 4 days a week, the chairman has said.
He further said that due to many countries providing services at very low prices, Sri Lankan garment exporters are unable to compete with other countries and in addition to the decrease in orders, other costs including electricity bills have increased greatly, but the lack of adequate prices has caused the income of investors to fall. has been declared.