Big names in the retail industry seek relief measures, PM wants no layoffs

Sri Lanka Retailers Association (SLRA), the apex body of Sri Lanka’s Organised Retail Sector (ORS) consisting of last mile retailers, met Prime Minister Mahinda Rajapaksa recently to address the issues and difficulties they are faced with due to COVID pressures in the country.

Representatives of SLRA requested Prime Minister to institute relief measures through the Ministry of Finance for their sector’s smooth functioning in the COVID environment.

During this meeting which was also attended by the representatives from Sri Lanka Apparel Brands Association (SLABA), the Prime Minister requested all Lankan industrialists and business enterprises not to retrench their workers and staff but to safeguard them.

Representatives of SLRA and SLABA apprised the Prime Minister of the various issues the sectors are faced with including obtaining of bank loans, opening letters of credit, vaccination of apparel and retail workers, and difficulties they face with EPF and ETF payments. SLRA members also requested permission to re-open FMCG vendors, supermarkets, clothing, fashion, jewellery, footwear and accessories outlets, household and consumer durable shops, e-commerce vendors, healthcare, wellness, entertainment, food, restaurants and fast food outlets, and shelter housing providers’ outlets, with COVID control measures.

Sectoral representatives informed the Prime Minister that they have faced various business setbacks in the 24 months since the Easter bombings and the COVID outbreak, and therefore, called for relief measures for their sectors from the Ministry of Finance.

The Prime Minister was joined at the meeting by Minister of Industries Wimal Weerawansa, Minister of Labour Affairs Nimal Siripala De Silva, State Minister of Batik, Handloom and Local Apparel Products Dayasiri Jayasekara, State Minister of Money and Capital Market and State Enterprise Reforms Ajith Nivard Cabraal, Director General of Health Services Dr. Asela Gunawardena and officials from the Central Bank and Ministry of Finance.

“We had a very fruitful meeting with Prime Minister Mahinda Rajapaksa. We thank him for giving us an opportunity to discuss these concerns and we appreciate his openness in listening to our grievances. We were also informed that moratoriums on bank loans will be granted to the business community which we are a part of and for which we extend our highest appreciation,” SLRA said.

“We appealed to reduce or postpone utility payments which would reduce our cost burdens as they constitute a significant expenditure for us. Sri Lanka’s organised retail sector is a critical ecosystem in the wellbeing of Lankan customers, families, and livelihoods. It accounts for around one-third of the GDP and over 15% of employment in the country. The FMCG and fashion sub sectors have become key channels of employment for the country’s youth and the entry point for them in modern trade. We are confident of relief measures so that a consumer crisis won’t take place”, Hussain Sadique stated.

Among members of SLRA are FMCG vendors, supermarkets, clothing, fashion and jewelry, household & consumer durables, footwear and accessories, e-commerce, healthcare and wellness, entertainment, restaurants and fast food sellers, and shelter and housing providers.

Members of SLRA include; Keells Super, Cargills Foods, Dilmah, Abans, Singer, Softlogic, Damro, Bata, Di, DSI, Fashion Bug, Cool Planet, Cotton Collection, Vogue Jewellers, Hameedia, Dankotuwa, P&S, No Limit among others.