Sri Lanka, May 18 -- Sri Lanka is gradually losing its market share to more competitive nations like Vietnam, Bangladesh, and India due to escalating production expenses driven by fuel price hikes and electricity tariff increases.

Speaking to a local media outlet, Sri Lanka Chamber of Garment Exporters Vice President Rumesh Perera stated yesterday to The Daily Morning that the recently declared 18 per cent electricity tariff hike for domestic consumers using over 180 units placed extra pressure on garment factories currently dealing with growing operational costs.

Rumesh Perera explained that factories are yet to feel the immediate shock because they are supplying orders that are already secured. However, when calculating expenses for f...