SL apparel exporters challenge Central Bank, saying apparel membership is fully compliant with export repatriation laws

News

Joint Apparel Association Forum (JAAF), the apex body of Sri Lanka’s apparel manufacturing and exporting industry, similar to the National Chamber of Exporters (NCE) is challenging the data presented by the Central Bank (CB) that exporters are not remitting their export earnings.

“Our members are acutely conscious of the predicament our country is in and we are confident that companies in our membership have been abiding by the law, ensuring that export proceeds are repatriated back. We are committed to easing the burden of the current economic hardship faced by people”.

In a statement, JAAF said member companies has and will continue to comply with the existing regulations and will continue to complement all efforts of the CB and Government in providing much needed assistance to all stakeholders of the economy, under these very challenging circumstances.

Apparel is Sri Lanka’s single largest foreign income earner, contributing 6 per cent to the country’s overall GDP. The sector provides direct employment to 350,000 people, while positively impacting the livelihoods of a further 700,000.

The CB this week accused some exporters of holding onto their export proceeds without repatriating it to the country, a charge that was earlier on Tuesday rejected by the National Chamber of Exporters (NCE).

Comments

Still No Comments Posted.

Leave Comments

Most Reviews

May 31, 2025

- 476 - 0

Flt Lt Kasun Cumaratunga , more than a pilot, a guardian remembered on his 37th death anniversary

Kasun, was born in 28th Sept 1964, the grandson of the legendary author and linguist Munidasa Cumaratunga and son of SSP Bindu Kumaratunga and Winifred

June 2, 2025

- 445 - 0

National Tax week launched

The Inland Revenue Department (IRD) backed by the Excise and Customs Department today launched a fresh drive to collect taxes including some Rs.780 billion listed as ‘collectable defaults’.

June 2, 2025

- 346 - 0

SriLankan Airlines’ new A330 Fleet to perform low fly past over Colombo on Wed.

May 29, 2025

- 259 - 0

Mahindananda and Nalin Fernando Jailed

Former Sports Minister Mahindananda Aluthgamage and former Sathosa Chairman Nalin Fernando have sentenced to 20 and 25 years respectively after they were found guilty in a case of fraud.

May 30, 2025

- 254 - 0

In Pix: Weather situation in Colombo

June 3, 2025

- 183 - 0

Krishanthi Kumaraswami convicts FR dismissed by SC

The Supreme Court today unanimously dismissed a Fundamental Rights petition filed by five convicts in the 1996 Krishanthi Kumaraswamy abduction, rape, and murder case.