Hold On

Political power play has put in the balance plans by HSBC to set up a huge call center in the country.
The banking giant was planning to set up a call center and a back office operation in the country and was seeking government cooperation for minor adjustments to the Labor Laws to facilitate the investments.rn

rnHowever, political uncertainty that cropped up after the president used the full might of her powers has cast doubts about the project going through.rn

rnThe bank announced last month it was axing 4000 jobs in the UK over the next three years and moving them to Asia to cut costs.rn

rnA planned call center and back office operation giving employment to over 1000 people proposed to be moved to Sri Lanka however is in the balance due to political instability in the country.rn

rnThe bank was counting on the government amending an outdated Labor Law that did not allow female workers to work night shifts.rn

rnSources say, assurances had been given that the laws will be amended, when the p