Business
Fuel shortage increasingly dominate concerns in apparel sector
By Sanath Nanayakkare
Fuel shortage which lingers in the country and its consequent disruptions have greatly overtaken other anxieties in the mind of the apparel manufacturers, a news report by Hiru TV revealed on Saturday.
According to the report, the fuel shortage has created huge stresses in the apparel sector which is no less so in many other sectors of the economy. However, Sri Lankan apparel manufacturers are particularly worried about the ongoing situation as prevailing energy and transportation challenges could put the industry that accounts for 6% of annual GDP and 40% of total annual export earnings of the country in disarray.
Felix A. Fernando, an apparel industry veteran having more than 30 years of experience in the field noted that due to the persistent fuel shortage, the apparel sector is facing an unprecedented, complex situation which has created huge challenges to their operational activities.
“It’s a well-known fact that the largest share of Sri Lanka’s export earnings come from the apparel sector. Today the challenges we face due to diesel shortage are enormous. We have discussed with the government to pay in US dollars and get fuel from CPC and Lanka IOC. Although we have the capacity to get diesel by paying in dollars, the Ceylon Petroleum Corporation (CEYPETCO) is not giving us priority. Our sector targets export earnings worth USD 6 billion this year. But I think a very challenging environment has been created to reach that target at a time the country is in dire need of foreign exchange,” he said.
Meanwhile, a number of women workers in the sector also voiced their concerns about the ongoing situation.Several women workers of the sector said, “Our sector is the main source of US dollar income which has a greater ability to put the country out of the foreign exchange crisis. As employees, we face many difficulties in travelling to our work places. We have to spend hours waiting for public transport when commuting to work because we don’t have the time to stay in line for days at petrol stations and get petrol. Sometimes we walk to our factories rather than using any form of transport because we can’t rely on it. This issue could hamper the productivity of our workers.”
Not only transportation of employees, the delivery of finished products to the Port of Colombo for export is also facing huge disruptions due to the fuel shortage in the logistics sector,” they said.It was noted that although apparel manufacturers had made a number of efforts to find alternative solutions to these issues, they haven’t borne fruit.
“We urge the authorities to work firmly to resolve this crisis and help facilitate the apparel sector to bring in valuable foreign exchange to the country, and enable the import of essential items to the country and thereby ease the burden placed on everyone” they said.
According to Sri Lanka Export Development Board (EDB), apparel and textile exports increased by 22.93% year on year to US$5.4 billion between January-December 2021.The achievement was a marked increase from previous years’ earnings of apparel exports, EDB said.Sri Lankan apparel sector’s major markets in 2021 were the U.S.A, U.K., Italy, Germany, Netherlands, Belgium, Canada and India.
The Delegation of German Industry and Commerce in Sri Lanka (AHK Sri Lanka) proudly facilitated the first-ever Sri Lankan delegation’s participation at Drupa 2024, the world’s largest trade fair for the printing industry and technology. Held after an eight-year hiatus, Drupa 2024 was a landmark event, marking significant advancements and opportunities in the global printing industry.
AHK Sri Lanka played a pivotal role in organising and supporting the delegation, which comprised 17 members from the Sri Lanka Association for Printers (SLAP), representing eight companies from the commercial, newspaper, stationery printing, and packaging industries. This pioneering effort by AHK Sri Lanka not only showcased the diverse capabilities of Sri Lanka’s printing sector but also facilitated vital bilateral discussions with key stakeholders from the German printing industry.
Business
Unveiling Ayugiri: Browns Hotels & Resorts sets the stage for a new era in luxury Ayurveda Wellness
In a captivating reimagining of luxury wellness tourism, Browns Hotels & Resorts proudly unveiled the exquisite Ayugiri Ayurveda Wellness Resort Sigiriya. This momentous occasion, celebrated amidst a vibrant and serene grand opening on the 6th of June, heralds a new chapter in the Ayurveda wellness tourism landscape in Sri Lanka. Nestled amidst 54 acres of unspoiled natural splendour, Ayugiri features 22 exclusive suites and stands out as the only luxury Ayurveda wellness resort in the country offering plunge pools in every room, rendering it truly one-of-a-kind.
The grand opening of Ayugiri Ayurveda Wellness Resort was an enchanting event, where guests were captivated by the melodies of flutists and violinists resonating through Sigiriya’s lush landscapes. As traditional drummers and dancers infused the air with vibrant energy, Browns Hotels & Resorts’ CEO, Eksath Wijeratne, Kotaro Katsuki, Acting Ambassador for the Embassy of Japan and General Manager, Buwaneka Bandara, unveiled the resort’s new logo, marking a significant moment witnessed by distinguished guests from the French Embassy, Ayurveda and wellness enthusiasts along with officials from the Sigiriya area, LOLC Holdings and Browns Group.
“Our strategic expansion into wellness tourism with Ayugiri Ayurveda Wellness Resort Sigiriya symbolises a significant milestone for Browns Hotels & Resorts. Wellness tourism has consistently outperformed the overall tourism industry for over a decade, reflecting a growing global interest in travel that goes beyond leisure to offer rejuvenation and holistic well-being. By integrating the timeless wisdom of Ayurveda with modern luxury, we aim to set a new standard in luxury wellness tourism in Sri Lanka. Whether your goal is prevention, healing, or a deeper connection to inner harmony, Ayugiri offers a sanctuary for holistic well-being” stated Eksath Wijeratne.
Ayugiri encapsulates the essence of life, inspired by the lotus flower held by the graceful queens of the infamous Sigiriya frescoes. Just as the lotus emerges from the murky depths, untainted and serene,
Ayugiri invites guests on a journey of purity and rejuvenation, harmonised with a balance of mind, body and spirit, the essence of nature, echoes of culture and the wisdom of ancient Ayurvedic healing.
HNB General Insurance, one of Sri Lanka’s leading general insurance providers, has been honored as the Best General Bancassurance Provider in Sri Lanka 2024 by the prestigious Global Banking and Finance Review – UK.
The esteemed accolade underscores HNB General Insurance’s unwavering commitment to excellence and its outstanding performance in the field of bancassurance. Through dedication and hard work, the HNB General Insurance team has continuously endeavored to deliver innovative insurance solutions, cultivate strong relationships with banking partners, and provide unparalleled service to customers nationwide. This recognition is a testament to the team’s dedication and relentless pursuit of excellence in the bancassurance business.
“We are honored to receive this prestigious award, which reflects our team’s tireless efforts and dedication to delivering value-added insurance solutions and exceptional service through our bancassurance partnerships,” said Sithumina Jayasundara, CEO of HNB General Insurance. “This recognition reaffirms our position as a trusted insurance provider in Sri Lanka and motivates us to continue striving for excellence in serving our customers and communities.”
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