Local retail industry seeks government support to stay afloat

• Prime Minister assures granting moratoria on bank loans 
• Relief measures to prevent a consumer crisis taking place

Pleas for relief packages from the government to stay afloat continues with the latest call being made by the Sri Lanka Retailers’ Association (SLRA), for support to brave through the ongoing crisis.

The association, which is the apex body of Sri Lanka’s organised retail sector (ORS), met with Prime Minister Mahinda Rajapaksa recently to stress the need for the government to roll out relief measures through the Finance Ministry so retail operations are able to proceed in a smooth manner in the COVID-19 environment.

Having heard the challenges faced by the retailers in carrying out day-to-day activities, Rajapaksa had assured them that moratoria on bank loans would be granted to them.

To gain more breathing space the association had also urged the premier to consider reducing or postponing utility payments so that the ‘cost burden’ is reduced to some extent. A decision on this regard is yet to be taken.
“We are confident of relief measures so that a consumer crisis would not take place,” the SLRA said in a statement to the media. 

Meanwhile, just as the government has been employing measures to help businesses to stay afloat, Rajapaksa has stressed it is imperative for enterprises to take the necessary efforts and actions to retain workers and not retrench them.

The ORS accounts for one-third of GDP and over 15 percent of employment in the country. 

The association stressed that 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. 

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