Business and Economics
Employees’ salaries cannot be unilaterally reduced - EFC Chairman

Chairman of the Employers’ Federation of Ceylon Pravir Samarasinghe asserted yesterday that the salaries of employees cannot be unilaterally reduced.

He was responding to a question as to whether employers could escape by unilaterally reducing salaries claiming some that the companies or other state sector organizations did not have funds citing COVID 19.

An agreed salary in a contract between an employer and employee should not be unilaterally reduced by the employer. Any reduction is any must be done by consent of the employee.

“Notwithstanding the above premise , an historic tripartite agreement was reached recently between the Ministry of Labour, employee representatives and employer representatives in which it was agreed that employees who cannot work or work cannot be made available to them due to the Government restrictions imposed due to the COVID 19 pandemic,

Janashakthi Life partners with Daraz to strengthen their commitment as a purpose driven insurer in these challenging times

Janashakthi Life partners with Daraz to provide free life insurance cover (inclusive of COVID – 19 coverage) and critical illness insurance cover up to Rs. 100,000 for customers via Daraz, Sri Lanka’s no. 1 online shopping platform. 

Customers receive this special life insurance cover inclusive of COVID-19 coverage and critical illness insurance cover free of charge for a specific period of time. This is initiated as one of Janashakthi Life’s proactive measure to ensure the safety of Sri Lankans due to the prevailing situation and the threat posed by COVID-19.

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SL Merchandize exports dip sharply

Sri Lanka merchandize export earnings have recorded a historical decrease by nearly 64% to US $ 277.4 million from US $ 772.57 million documented in April 2019 according to Customs monthly provisional exports statistics,.

Export Development Board (EDB) Chairman Prabhash Subasinghe mentioned, “It is understood that we are witnessing a decline in exports during the month of April 2020 which is mainly caused by the shutdown of many operations due to the prevailing COVID 19 crisis and also to the fact that the Sri Lankan Government taking strict measures in controlling the situation.”

“Furthermore, the overall results from Jan to April also reflects a decline in global demand of goods due to the global economic impact caused by the prevailing Pandemic situation in the world. EDB is taking continuous measures and working closely with the exporters to resolve their ongoing issues as well as finding new markets and new products to meet the current market needs created by Covid 19.”

Apparel sector has shown a sharp decline (-82%) during the month of April 2020 compared to the same month in the previous year. Other selected sectors that has recorded a significant decline during the same period includes; Tea (-21%), Coconut products (-35.2%), Rubber Products (-53%), Food & Beverages (-44%), Spices (-24%), Electronics & Electronic Components (-63%), Petroleum Products (-63%), Seafood (-72%) and Base Metal Products (-49%).

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