The Free Trade Zones (FTZ's) set up in Sri Lanka in the late 1970's are loosing their sheen. The FTZ's were set up to take advantage of the Multi-fibre agreement. But after the dismantling of the same in 2005, the garment units in these zones were going through a tough phase.
Now, to add to the woes of the over burdened units, has come the Tsumani like global economic crisis, which is creating and leaving in its wake unemployment in the thousands. Big garment units employing over thousand workers are laying off workers in the same numbers.
According to experts, the crisis of unemployment is expected to worsen after completion of the New Year holidays which begin from April 14. They say, workers can expect a nasty surprise of being shown the doors when they return to work after the holidays.
The Government on its part has also not done much to help the garment manufacturing units and have left them to fend for themselves in these very critical times, unlike the governments of China and India who have announced stimulus packages.
Fibre2fashion News Desk - India
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