Dollar shortage affecting business : ACL Cables Plc

[Hasitha22]

Sri Lanka’s ACL Cables Plc is finding it difficult to import raw materials from abroad because banks were rationing foreign exchange, customers were told amid the worst money printing in the country’s central bank history.

“Due to the current shortage of foreign currency at the banks, we are finding it difficult to source adequate quantities of raw materials from overseas supplies,” the firm said in a letter addressed to ‘valued stakeholders’.

The forex rationing by banks “will result in a short supply of materials very soon and we see signs of shortage since stock raw materials are hardly sufficient to meet the demand in the next two month,” the firms said.

Sri Lanka’s central bank ratcheted up money printing from around February 2020, under the current administration’s Saubhagya framework driving the rupee down from 182 to the US dollar to 230 in the over-the-counter market.

Economynext

 

[Hamu mahaththaya1]

 

[Emios]

We can have a merry christmas by december

 

[Hasitha22]

 

[33000v]

gewal hadalath iwarai wage

 

[lilman]

oka oil and medicine walatai balapapu dawasata thamayi ikenne

 

[Emios]

Poddak hitapan evergrande eka default wenakan.

 

[Hasitha22]

gewal hadalath iwarai wage

Mona gewal da apita

 

[EVC]

China

 

[Brandy2020]

1).Now 20' from China 7500USD. In May it was 1750 USD.

2).ACL has big stock of Copper and seems to be they are ready for 2021

3).Banks haven't foreign exchange but black market have enough for Rs. 230 /USD

4). Sri Lanka has developed country living styles but actually we are very below of the economic wise.

 

[AEG]

ඔය ගූපියොන්ගෙ මායම් ..... @erozan

 

[ThisaraMalintha]

Slt connection eka denna apu kena kiwwa untath me tike badu adui kiyala wires ehema

 

[Hasitha22]

We can have a merry christmas by december

 

[cuteoz]

pls stabilize the rupee immediately and avail themselves to import things which will bring prosperity to lankans, as a lankan i'm ashamed our central bank has had the capabilities to run and protect it's sovereign holders. central bank ekama wikunala dammoth hari dan.

 

[charith84]

We can have a merry christmas by december

fuck you bitch

 

[Emios]

fuck you bitch

Fk you 84 old nigga

 

[charith84]

Fk you 84 old nigga

suck my dick

 

[krizta]

Reality check nigga..

 

[Hasitha22]

Update

Expats barred from fund repatriation

Many foreign expatriates in Sri Lanka are complaining that they are not permitted to repatriate funds by their respective licensed commercial banks (LCBs) in the island for personal purposes, in the midst of a severe foreign exchange crisis.

Expatriates were complaining on social media for not being able to transfer funds to countries including India and the UK.

themorning

 

[hodakolla]

Sri Lanka’s ACL Cables Plc is finding it difficult to import raw materials from abroad because banks were rationing foreign exchange, customers were told amid the worst money printing in the country’s central bank history.

“Due to the current shortage of foreign currency at the banks, we are finding it difficult to source adequate quantities of raw materials from overseas supplies,” the firm said in a letter addressed to ‘valued stakeholders’.

The forex rationing by banks “will result in a short supply of materials very soon and we see signs of shortage since stock raw materials are hardly sufficient to meet the demand in the next two month,” the firms said.

Sri Lanka’s central bank ratcheted up money printing from around February 2020, under the current administration’s Saubhagya framework driving the rupee down from 182 to the US dollar to 230 in the over-the-counter market.

Economynext

View attachment 144807

stock eka watei wage