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Sunday, January 29, 2023

Companies discard long-term plans due to short-term uncertainties  – The Morning

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By The Morning Business Desk 

Driven by the prevailing power cut and fuel shortage, leading listed companies that usually planned their businesses three years ahead are now planning merely the next 10 days ahead with uncertainties in the country’s power and energy sector. 

Hela Apparels Holdings Ltd. Group Chief Executive Officer (CEO) Dilanka Jinadasa, during a virtual event titled “Navigating Through the Power Crisis” organised by CT CLSA Securities (Pvt.) Ltd., stated that the long-term plans that used to be three years long have now been contracted to 10 days as there is no assurance regarding the availability of fuel and supply of power. 

“The prolonged power crisis has been affecting the export industry when the need of the dollar has been heightened more than ever in Sri Lanka due to the dollar crisis,” he added. 

Walltile PLC and Lanka Tiles PLC Managing Director Mahendra Jayasekara during the same event stated that they are heavily dependent on energy-driven operations and they cannot manage an industry like this.

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