No textbooks for international students; new school year begins this month

Another official of the Association noted that suppliers were also reluctant to sell on credit because of the Sri Lankan Government’s credit rating and rumors that letters of credit are not being honoured since most purchasing systems are now automated, and these systems block orders coming from buyers with a backlog of unpaid invoices.

“Most vendors are asking for full payments in advance, but this is virtually impossible, as sales are significantly down,” one bookseller said.

Sellers also found themselves making losses due to the fluctuating exchange rates.

“We sold the books at the prices set for the old exchange rate but when it was time to pay our suppliers we had to pay at the new exchange rates which were so much higher,” the vendor said.

The Association official estimated that booksellers most likely experienced 40-50% losses in revenue in September alone. Sellers usually make high revenues between July and August every year for the international school season and more during the book fair season in September. No plans were made for the book fair this year and so no special orders had been placed with their suppliers. But many sellers said even if the book fair was held, they would have expected significantly less business since extreme price increases were inevitable.

“Especially international school textbooks which were heavily priced even before this situation will become unaffordable,” he added.

The official noted that another issue they foresaw was the December season demand for Government textbooks.

“These books are currently only available at Isurupaya. Since the situation is unpredictable it will be advisable for the Government to begin planning for an online registration or delivery system for those books,” he said.

While leftovers from previous stocks are still available, the shops are able to meet some of the demand for certain books. S a r a s av i Bookshops Managing Director Chandu Haputhanthri said stocks leftover from previous imports will only last for about two to three more months, at most.