By the end of 2022, commercial banks in Sri Lanka had given loans of 293800 million rupees to the garment industry, reveals the Central Bank’s annual report.
By now, several leading garment manufacturing companies have left the country, and there is a danger that many more will close down without being able to settle the heavy debt burden of last year.
In the first quarter of this year, the garment export income collapsed, and the media revealed that nearly 50,000 people had lost their jobs.
