In the face of the current political development in Sri Lanka, the country’s Joint Apparel Association Forum (JAAF) has called on all party leaders to urgently clear the way for an all-party government with elections as soon as possible to restore stability and rebuild confidence in the country - locally and globally. Sri Lanka is facing the worst economic crisis in 70 years. The JAAF also reiterated the push for a constitutional amendment to abolish the executive presidency.
According to the Ceylon Business Reporter, the paper says: “At this critical juncture in our nation’s history, we strongly request that leaders of all political parties work together in resolving this major crisis that our country is in and prioritize a ‘Sri Lanka First’ agenda. We also call upon the people to have the patience and perseverance to hold their protests in a non-violent manner while understanding their enormous and extreme suffering. We call on the security to act with restraint while maintaining law and order.”
Addressing the impact of ongoing volatility on the sector, the JAAF noted that Sri Lanka’s apparel sector has continued to demonstrate outstanding resilience by meeting all existing orders and production schedules despite adversity. The association sees a normal level of staff attendance in the apparel plants that remains largely unchanged.
However, at a time when global consumer sentiment is expected to weaken, and many in the industry are bracing for a possible drop in orders of up to 20% next season (June to August), the association warned of serious negative consequences if policymakers delay the reforms needed to get Sri Lanka back on track. Accordingly, the JAAF called on the government to immediately begin discussions with credible policy and industry experts to quickly develop a practical, non-political roadmap for Sri Lanka’s economic recovery.
