Sri Lanka’s manufacturing industry is feeling the heat as rising electricity tariffs, policy inconsistencies, and slow adoption of green technology threaten its competitiveness.
The Manufacturing PMI for May showed growth at 55.5, but industry leaders urge caution.
💬 Andre Fernando, Managing Director—MAC Holdings (Pvt) Ltd., warns:
“The apparel sector, a key export contributor, is under severe pressure from high costs and a 15% tariff hike. Without stable tariffs and targeted incentives for tech and green upgrades, we risk losing jobs and market share.”
While demand may recover gradually, rising costs and lack of policy support could stall progress.
🔗 Full article: https://www.themorning.lk/articles/tqF5b0RaiebtQu02JSL5