Local SMEs are on the verge of collapse, warns SLUNBA

COLOMBO (News 1st); Sri Lanka's manufacturing sector is in a crisis situation due to the local market being flooded with imported finished goods, warned Sri Lanka United National Businesses Alliance (SLUNBA) Chairperson Tania Abeysundara.

Speaking to reporters, she said that it is impossible for the local Small and Medium Enterprises to compete with the Chinese, Indian, and Thai markets.

She went on to note that 30% of the local SMEs have shut down, and another 30%  are on the verge of collapsing.

She urged the authorities to first consider the local economy, before taking into account the global economy.