Exporters thank govt. for electricity tariffs reduction
The recent reduction in electricity tariffs has been met with strong approval from Sri Lanka’s exporters, offering them a vital lifeline as they face mounting challenges in a tough global economic environment.
“Energy costs are a major component of production expenses for export-oriented industries, and this tariff reduction directly addresses a critical financial pressure point, providing immediate relief to businesses striving to stay competitive,” says Shiham Marikar Secretary General National Chamber of Exporters of Sri Lanka.
Many Sri Lankan exporters operate with razor-thin profit margins, constantly balancing the pressures of maintaining operational sustainability against the need to offer competitive pricing.
“The electricity tariff reduction allows businesses to lower their production costs, enabling them to remain agile and competitive.”
This development comes at a crucial juncture. Exporters are navigating volatile exchange rates, escalating raw material prices, and higher logistics expenses. By reducing electricity costs, exporters can redirect resources toward innovation, capacity building, and improving the efficiency of their operations. These reinvestments can enhance the quality and affordability of their products, which is essential to both retaining existing market shares and penetrating new markets.
The broader impact of this move extends beyond individual businesses to the national economy. By making Sri Lankan products more cost-competitive internationally, the country can increase its export volumes, bringing in much-needed foreign exchange.
“This not only supports economic stability but also stimulates job creation and fosters long-term growth.” The exporters’ community is optimistic that this reduction signals a broader commitment by policymakers to bolster the export sector. Such initiatives are essential for strengthening the backbone of Sri Lanka’s economy.
“The fraternity encourages continued collaboration between the government and the industry to create a supportive environment that enables exporters to thrive amidst global uncertainties.”
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