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Dollar crunch hits Airlines and Exports

The US dollar crisis in Sri Lanka has affected the export sector with shipping lines and airline industries.

Export sectors demanding that their freight charges be paid in dollars. Leading exporters, including those in the tea and rubber sectors, have been formally and informally informed that clearance of the shipments could be arranged only if US dollar payments are made.

A leading rubber exporter said to the Colombo media that the demand came at a time when the country was fetching a good price for rubber exports and they would run into issues if they could not find shipping facilities for the want of US dollars.

He said already some of the shipping lines had informed them of the decision and, therefore, the industry was concerned about the move.

Fish and garment exporters are among the others who are affected.

Meanwhile, Kuwait Airways pulled out from flying into Sri Lanka this week due to the “dollar crisis”. This move will affect tourism industries, which is also affected by pandemic, this sector the Government is heavily depending on dollar revenue.

 

 

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