Sri Lanka's tea industry has survived world wars and global depressions - but now it's really in jeopardy as its production down 22.7 percent in June 2022 from a year earlier to 18.5 million kilograms while the total output for the first six months dipped 17.8 percent from the previous year, official data shows.
Sri Lanka has asked China to help with trade, investment and tourism to help it grow sustainably, Colombo’s envoy to Beijing said on Monday as it negotiates for an emergency $4 billion package to help it emerge from an economic meltdown.
Highly respected eminent economist and former Central Bank Governor Dr. Indrajit Coomaraswamy has said the economic recovery will require painful treatment whilst expressing hopes that President Ranil Wickremesinghe would take all the tough decisions to avoid the disastrous situation.
The stage is set to present the interim budget 2022 of the present administration headed by President Ranil Wickremasinghe in parliament next month as the initial step of resetting the governing system, Finance Ministry sources confirmed.
The hard-hit Sri Lanka tourism sector’s ‘Revival for Survival’ plan is now enforced to support the industry through the ongoing economic crisis and move towards a positive work trajectory at the earliest.
