JAAF says membership is fully compliant with CBSL export repatriation laws

Wednesday, 3 August 2022 00:23 - - {{hitsCtrl.values.hits}}

The Joint Apparel Association Forum yesterday said it welcomes measures taken by Central Bank of Sri Lanka in monitoring foreign exchange transactions and outflows.

“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,” JAAF said.

“Member companies has and will continue to comply with the existing regulations and will continue to complement all efforts of CBSL and Government in providing much needed assistance to all stakeholders of the economy, under these very challenging circumstances,” emphasised JAAF, the apex body of Sri Lanka’s apparel manufacturing and exporting industry.

Apparel is Sri Lanka’s single largest foreign income earner, contributing 6% 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.