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Abans PLC hosted its annual Circle of Excellence 2025 awards ceremony at the Monarch Imperial on 17th October in Battaramulla, bringing together key mobile business partners from across Sri Lanka, including regional distributors, island wide mobile dealers, suppliers, and frontline sales teams. As the National distributor for leading global brands such as OPPO, Realme, Motorola, and itel, Abans has played a pivotal role in driving mobile innovation and accessibility across the country.

This event marked a moment of reflection and recognition, celebrating the tremendous growth and performance achieved over the past year through strong collaboration and market agility.

The mobile business has seen remarkable expansion and impact over the past year; with record-breaking sales, deeper market penetration, and strengthened partner relationships contributing to one of the most successful periods in recent history.

The evening recognized that business relationships are more than transactions; they’re built on trust, consistency, and shared goals. By honouring top performers and reaffirming its commitment to collaborating with its partners, Abans reinforced the belief that long-term success is driven by strong human connections.

Opening the ceremony, Mr. Buddhika Dharmawardana, Director Operations at Abans PLC, highlighted the growing importance of mobile retail in Sri Lanka’s digital economy. He assured partners that Abans remains fully committed to supporting their efforts and strengthening the ecosystem together.

Managing Director at Abans, Mr. Rusi Pestonjee expressed sincere appreciation to all partners for their continued support and encouraged them to stay closely aligned with Abans as the company moves forward. His message was clear; progress is a shared journey, and every partner plays a vital role.

Mr. Rangana Naotunna, Head of Mobile Sales, echoed this sentiment by inviting partners to deepen their engagement and continue building on the momentum of recent years.

Chief Marketing Officer Dr. Chathura Jayawardana closed the speeches with a note of gratitude and optimism; thanking partners for their dedication and announcing the upcoming launch of a new product range at competitive prices, that is designed to create fresh opportunities for growth. He extended special thanks to mobile business partners from across Sri Lanka, including regional distributors, island wide mobile dealers, frontline sales teams, and valued suppliers representing OPPO, Realme, Motorola, and itel; whose collective efforts have been instrumental in driving success throughout the past year.

The awards segment recognized outstanding contributions across multiple categories, celebrating excellence in both performance and partnership.

Accordingly, the awards for Regional Distributors for the Highest Sales Contribution, the Highest Target Achievement were conferred, in addition to Island wide Outstanding Mobile Dealers being awarded, while the Abans Sales Team were awarded with appreciation awards, recognizing the dedication and impact of each recipient.

Each award was a reflection of hard work, consistency, and the kind of dedication that drives real results. More than recognition, it was a moment to thank those who continue to go above and beyond.

As the event concluded, the message of the Abans Circle of Excellence 2025 was made clear; it wasn’t just about celebrating the past, it was about building the future. With renewed energy and shared purpose, Abans and its partners are ready to take the next step forward, together.

For customers, a visit to TONI and GUY is described as a wholesome experience, not just a salon appointment. Founded by brothers Toni and Guy Mascolo, this multinational brand’s journey began humbly in 1963 with a single hairdressing salon in Clapham, London. Today, that legacy has expanded to over 450 luxury salons in 38 countries.

In 2016, this luxury salon was brought to Sri Lanka, and is situated along R.G. Senanayake Mawatha, Colombo 7. Here, customers receive exceptional hairdressing and treatments from teams trained to uphold TONI and GUY’s international standards. ‘We are Sri Lanka’s globally inspired salon brand operating to multinational standards,’ said TONI and GUY Sri Lanka General Manager Sasanka Rajanayake.

Calming ambience, beverage menus and valet parking

TONI and GUY is not just about hairdressing, makeup, and grooming; it’s a comprehensive experience designed to make clients feel at home and at ease during and after their visit.

As the valet takes over, the client walks into the lobby – designed in line with global standards and guidelines – and receives a hot or cold towel of their choice to unwind. A beverage menu, offering everything from cappuccinos to herbal drinks, is available to all clients regardless of the service requested. Those visiting for a haircut are then escorted for a head wash. ‘Our head wash is also unique. We take about 10 minutes to shampoo, condition, and massage before proceeding to the haircut,’ Sasanka said. He also mentioned that TONI and GUY uses only premium products available in Sri Lanka and follows all techniques in accordance with UK guidelines.

Clients who request multiple services that take over three hours are offered an additional menu. ‘We strive to give all clients who come to us an indulgent service. They should be fully satisfied when they leave,’ Sasanka remarked, adding, ‘While some may perceive our services as premium, we ensure exceptional value for the quality and care offered.’

Training and development

Staff who have undergone overseas training at the TONI and GUY Academy also conduct the same training programmes for other team members locally.

Sasanka underscored that all senior staff have completed the TONI and GUY course. The trained staff then go on to train junior and intermediate team members using TONI and GUY’s official training materials. Every minute detail from salon ethics to haircutting techniques and maintaining good client interaction is covered during training.

All staff are also kept up to date on the latest haircutting, colouring, and styling techniques through T and G’s ‘The Learning Hub.’

Many repeat, loyal clients

‘Since we set up in 2016, we have built a loyal client base who keep returning,’ said TONI and GUY Sri Lanka Operations Manager Harin Lawantha. He added that TONI and GUY feels like home to clients because the staff maintain the perfect balance between affability and professionalism.

Harin also mentioned that they have many VIP clients but treat all clients equally. ‘Whether a client is a VIP or not, we treat them all alike. We want our clients to be more than satisfied with our service, and that’s very important to us. We also have a lot of foreign clients coming in because they are well-aware of the TONI and GUY brand.’

Some clients spend the entire day at TONI and GUY requesting various services, Harin said, emphasising the quality of service provided by the salon.

He further stated that clients are never made to feel rushed during their appointments. ‘We don’t want any client to feel rushed. We want them to relax and enjoy their service to the fullest.’

To the delight of many, TONI and GUY also accommodates walk-ins. ‘We keep some of our staff free for walk-ins and make sure that appointments are undisturbed and unrushed despite the number of walk-ins,’ Harin said.

TONI and GUY operates from Tuesday to Sunday and has just one salon in Sri Lanka.

The Unit Trust Association of Sri Lanka (UTASL) has launched an Investor Awareness Initiative aimed at helping Sri Lankans understand how Unit Trusts (UTs) can play a vital role in planning and growing their wealth.

The initiative will take place at the World Trade Centre, Colombo, from 27to 31 October 2025, where there will be 16 member companies participating in the awareness program.

While Unit Trusts are one of the most widely used and trusted investment tools globally, awareness and participation among Sri Lankan investors remain relatively low. UTASL’s latest initiative seeks to change that by making the concept of Unit Trusts simple, relatable, and accessible to everyone, from first-time investors to those seeking to diversify their savings. This public education drive supports the ongoing efforts of the Securities and Exchange Commission of Sri Lanka (SEC) and the Colombo Stock Exchange (CSE) to strengthen financial literacy and investor participation across the country.

The launch of this initiative comes at a time of renewed confidence and growth in the Unit Trust industry. As of August 2025, total assets under management reached Rs. 601 billion, and the number of unit holders climbed to 131,609, reflecting an increase of 16,972 new investors and Rs. 56.4 billion in funds within the year. This growth signals a significant shift in investor behaviour, with more Sri Lankans beginning to look beyond traditional savings accounts toward professionally managed investment options that offer stability, transparency, and long-term returns.

UTASL President Christine Dias Bandaranaike said, ‘For Sri Lanka’s economy to grow sustainably, people must begin to think like investors, not just savers. Unit Trusts make this transition easier. Professionals, regulated by the SEC, manage Unit Trusts, and are accessible to anyone who wants to start building wealth systematically. Our campaign’s central message is Dhanaya Wadana UT (Wealth Building UT), with which we hope to encourage Sri Lankans to take control of their financial future through disciplined, long-term investing in regulated Unit Trusts.’

The public engagement event at the World Trade Centre, Colombo, is from the 27 to the 31 October, providing a unique opportunity for visitors to engage directly with licensed fund managers and investment experts. This interactive platform allows you to learn about different types of Unit Trusts, such as equity, balanced, and income funds, and discover how small, consistent investments can grow into long-term wealth.

The companies participating in the Investor Awareness initiative are leaders in the industry, each bringing their unique expertise and commitment to wealth building. These include Arpico Ataraxia Asset Management Ltd., Asia Securities Wealth Management Ltd., Asset Trust Management Ltd., Assetline Capital Ltd., Capital Alliance Investments Ltd., Ceybank Asset Management Ltd., Ceylon Asset Management Company Ltd., CT Smith Asset Management Ltd., First Capital Asset Management Ltd., J B Financial Ltd., LYNEAR Wealth Management Ltd., National Asset Management Ltd., NDB Wealth Management Ltd., Premier Wealth Management Ltd., Senfin Asset Management Ltd., and Softlogic Asset Management Ltd.

UTASL aims to popularise Unit Trusts and inspire Sri Lankans to prioritise long-term, professionally guided investing over short-term savings. The core message of ‘Dhanaya Wadana UT’ will empower Sri Lankans to control their financial future and contribute to national economic growth.

Salesforce Chairman and CEO Marc Benioff recently declared that ‘Agentic AI’ is the next revolution, where humans and Artificial Intelligence (AI) agents drive customer success together in ‘Agentic Enterprises.’

This declaration was made at the world’s leading AI Customer Relations Management (CRM) solutions provider’s ‘Dreamforce 2025’ three-day event in San Francisco.

The event, which has 1,500 sessions addressed by over 100 IT leaders, drove home the point that when AI is built with trust, it will elevate people, as agents handle the busy work so that employees can focus on work that matters in an enterprise.

Benioff also spoke of what he described as the ‘agentic divide,’ in which consumers are elevated but not enterprises.

To address this divide, Salesforce showcased its latest innovation ‘Agentforce 360,’ the world’s first platform designed to connect humans and AI agents in one trusted system – empowering every employee to achieve more, every customer-facing moment to deliver more, and every company to operate with unprecedented intelligence and speed. It was described as the most complete platform for building, controlling, and deploying trusted enterprise AI agents at scale.

‘To get AI right, you have got to get your data right,’ Benioff said during the keynote at Dreamforce, attended by over 50,000 including global customers, partners, and media, including the Daily FT.

‘You have got to get to more integrated solutions. You have got to get the priorities right. You have to get the governance right,’ he said, part in reference to a recent Massachusetts Institute of Technology (MIT) study that showed that generative AI pilot projects tend to fail.

‘The speed of adoption of technology by enterprise customers is not outpacing the speed of innovation,’ he emphasised separately during a media interaction. ‘Our job is to get those customers into adoption mode. The way to do it is by showing them customers who are front-left runners in this. When you look at these customers, they are making it happen, and I think that their stories are so critical and compelling,’ the Salesforce Chief emphasised.

Dreamforce 2025 showcased what it means to become an Agentic Enterprise featuring real customer demos from OpenAI, Williams-Sonoma, Inc., Pandora, Accenture, PepsiCo, FedEx, and Dell Technologies.

Benioff stressed that Salesforce was built on trust, customer success, innovation, equality, and sustainability. He revealed how two decades of connecting customers, data, and trust have led to the next leap in business – the rise of the Agentic Enterprise, where AI doesn’t replace people, but elevates them.

The Agentic Enterprise represents a new model for work – where AI elevates people rather than replacing them. In an Agentic Enterprise, every team operates with 24/7 intelligence: sales leads are never missed, service never sleeps, and every employee has an AI partner that helps them move faster and make smarter decisions. The result is a new era of productivity, customer connection, and growth.

Salesforce’s proven automation and analytics now power AI agents capable of turning every workflow into intelligence, every employee into a multiplier, and every customer interaction into a moment of impact.

Agentforce 360 is designed to deliver controlled, contextual, and consistent experiences across every customer and employee interaction-it gives teams the fastest path from AI prototypes to production-scale agents.

Built on learnings from more than 12,000 Agentforce implementations, the Agentforce 360 platform delivers a new Agent Script language for defining behaviour, an integrated voice-native experience layer, a reimagined Agentforce Builder for rapid, conversational development and testing, and easy, AI-powered unstructured data pipelines that turn even the most complex documents into reliable context for reasoning. The result: accurate, brand-aligned, production-ready agents built for enterprise-grade deployments.

Agent Script, a new scripting language for controlling agents, is a core component of the Agentforce 360 platform release. Agent Script combines the creativity of AI with the rigour of business workflows so that agents perform the exact way a company wants them to, every time. Agent Script allows enterprises to define agent behaviour with a human-readable expression language, which enables conditional logic, precise tool use, and guided, deterministic controls. This new level of control empowers Agentforce to tackle even the most complex tasks with confidence.

It was revealed that Agentforce 360 delivers the most advanced capabilities yet for building, deploying, and governing enterprise-grade AI agents. These innovations span the entire Salesforce ecosystem, from platform to data to customer apps to Slack, which is the Agentic OS for the Enterprise.

Agentforce 360 also uniquely brings together the four ingredients of an Agentic Enterprise.

Agentforce 360 Platform: The foundation for enterprise-grade AI agents, now featuring a new conversational builder, hybrid reasoning for greater control and accuracy, and voice capabilities.

Data 360: The trusted, unified data layer that gives every agent context. With innovations like Intelligent Context and Tableau Semantics, companies can turn unstructured data and analytics into rich context and understanding for AI.

Customer 360 Apps: The business logic and institutional memory of every enterprise – capturing how it sells, serves, markets, and operates – now brought to life through AI agents that deeply understand every customer and process from the inside out.

Slack: The conversational interface for humans and agents to work together, connecting knowledge, actions, and data in real time.

This uniquely integrated approach enables businesses to deploy agents that are grounded in governed, trusted data; work across teams and workflows; collaborate with humans and other agents directly in Slack; and leverage existing processes, business logic, and data infrastructure. And with its open ecosystem, partners extend Salesforce’s technology into every industry with tailored solutions and services.

Agentforce 360 also introduces the most dependable and accessible agents yet – designed to reason, act, and collaborate alongside people.

Agentforce Builder: A new conversational development studio that lets teams design, test, and deploy agents using natural language – no manual configuration required.

Agentforce Voice: A native voice layer that transforms Interactive Voice Response (IVR) systems into natural, real-time conversations with low-latency transcription, realistic speech synthesis, and deep Salesforce integration. Voice is compatible with leading enterprise Contact Centre as a Service (CCaaS) partners such as Amazon Connect, Five9, NiCE, and Vonage.

Hybrid Reasoning and Agent Script: Combines deterministic workflows with flexible Large-Language Model (LLM) reasoning for precision and adaptability. Developers can define guardrails, tool use, and logic using Agent Script, powered by the configurable Atlas Reasoning Engine.

Agentforce Vibes: Extends low-code development to AI, letting builders ‘vibe-code’ apps grounded in company data and governance.

Observability: New dashboards help teams monitor reasoning, accuracy, and compliance – improving reliability over time.

Not just a pilot but most successful solution ever

According to Salesforce, Agentforce 360 isn’t another AI pilot but it is already reshaping work inside Salesforce and across industries. Internally, Salesforce uses Agentforce 360 to handle routine tasks across sales, IT, and support, elevating employees to focus on strategy, creativity, and customer relationships.

Separately with 12,000 customers, Agentforce 360 has delivered transformative results.

Benioff said Agentforce, provisionally launched in October last year, has been the most successful product ever launched by Salesforce in its 26-year history.

‘It’s the fastest growing product in our history. There’s never been a faster growing product that we have that much already is way beyond anything we’ve been expecting,’ he told journalists attending Dreamforce 2025.

At the end of FY26 Q2, Salesforce closed over 12,500 deals since launching Agentforce and over 40% of Data Cloud and Agentforce Q2 bookings came from existing customer expansion. Its customer base is over 150,000 and employs over 76,000. In 2025, Salesforce’s annual revenue was $ 37.9 billion, up 121.63% from 2020. (NC)

The number of Sri Lankans leaving for overseas employment dropped by 5% in the first six months of 2025 to 143,037 workers, as improving economic conditions and rising domestic wages reduced outward labour migration, according to Central Bank of Sri Lanka (CBSL) data.

In January, 25,873 people departed for foreign jobs, slightly above the 25,149 recorded a year earlier.

Departures then fell to 22,271 in February, compared to 25,737 in 2024, and to 21,552 in March, against 24,158 last year. In April, 22,011 workers left, nearly unchanged from 22,220 a year ago, while May recorded 27,142 departures, marginally lower than 28,201 in 2024.

The data show that departures have eased since February, reflecting a stabilising labour market at home following several years of high migration during the economic crisis.

Meanwhile, workers’ remittances surged to $ 695.7 million in September, marking the third-highest monthly inflow so far in 2025, according to the CBSL.

The figure reflects a 25.2% year-on-year increase and represents the sixth consecutive month of record inflows, underscoring the steady recovery of foreign worker earnings.

Cumulatively, remittances in the first nine months of 2025 rose 20% year-on-year to exceed $ 5.8 billion, the strongest performance for the period since 2020.

The year-to-date total is also 8% higher than the $ 5.38 billion recorded during the same period in 2016, which remains the year with the highest annual remittances at $ 7.24 billion.

The national program ‘4i Project’ developing 1,000 young entrepreneurs was successfully launched last week by the Industry and Entrepreneurship Development Ministry in partnership with the National Productivity Secretariat and other Government bodies.

Industry and Entrepreneurship Development Minister Sunil Handunneththi said the national program, the 4i Project, is geared towards empowering a new generation of business owners, with a focus on youth and Small and Medium Enterprise (SMEs).

The Minister clarified the program’s eligibility, noting it is intended not only for emerging entrepreneurs but also for established SMEs that possess a minimum of three years of operational history and employ at least 10 individuals. The initiative will specifically target production-related businesses within identified districts across the nation.

He briefly outlined the main objectives of the project, stating the program seeks to expand business opportunities through entrepreneurship training and productivity enhancements. He reaffirmed the Government’s commitment, stating that it has upheld its promise to support entrepreneurship and contribution to the development of the economy.

The Ministry of Industry and Entrepreneurship Development Deputy Minister Chathuranga Abeysinghe provided an explanation for the initiative’s name, confirming that the 4i Project framework refers to four distinct phases of business innovation and development.

He detailed these phases: Initiation, which focuses on helping aspiring entrepreneurs identify market opportunities and formulate initial business ideas; Ideation, which aids young people in developing their concepts into concrete business plans; Integration, which supports entrepreneurs in structuring and consolidating their business plans; and finally, Implementation, which guides entrepreneurs through the launch of their new business ventures.

Addressing the broader economic context, the Deputy Minister stated that low national productivity is one of the underlying reasons for the country’s economic downturn. He posed a question about the necessity of the project given that simply running an enterprise makes one an entrepreneur before explaining that the process is not merely about launching businesses, but about fundamentally improving them: increasing their efficiency, reducing waste, providing solutions, and ultimately making the enterprise truly entrepreneurial.

He stressed that only by significantly increasing productivity can Sri Lanka effectively penetrate the international market. He also reaffirmed the national target with expectations that this initiative will increase overall productivity by 52%.

Industry and Entrepreneurship Development Secretary J. M. Thilaka Jayasundara presented a detailed overview of the 4i Project, outlining its role in the Government’s strategy to reorient Sri Lanka towards a manufacturing economy by 2030.

She pointed out the project’s purpose and future actions, confirming it is an innovative initiative designed to boost the SME sector by enhancing the knowledge, skills, productivity, and export capability of local entrepreneurs.

She emphasised the ‘4i Project’ was initially implemented as a pilot program in the Gampaha District. The project success led to subsequently expanding the program across the entire island.

Jayasundara asserted that the Government is committed to transitioning to a manufacturing-led economy by 2030. Current figures show the manufacturing sector’s contribution is 16.1 %, while the contribution from entrepreneurs in the labour force stands at 3 %. The target is to raise the manufacturing sector’s contribution to at least 20% by 2030.

Acknowledging the goal’s significance, she described it as an optimistic yet achievable target, provided a collective effort is made to channel the manufacturing sector into the export market to drive growth.

Industry and Entrepreneurship Development Ministry’s Public Enterprises Director W.M.D. Suranga Gunaratna noted that the ‘4i Project’ is specifically designed to strengthen the national economy by providing the selected young entrepreneurs and SMEs with the necessary advisory support, resources, training, and enhanced business knowledge required for sustainable growth and improved export performance.

He also mentioned the rigorous selection process that involved within a short period of time receiving applications from 17 districts, 968 candidates initially called for interviews. From that, 709 were selected, and 504 outstanding entrepreneurs ultimately secured their place in the first phase of the’4i Project’ this year.

He confirmed the project’s phase covering 17 districts, with the remaining eight districts scheduled for mid-2026. He said their initial target was 1,000 participants and anticipate to select the remaining 500 entrepreneurs by next year. He noted that this successful launch is just a beginning, representing a major step toward strengthening Sri Lanka’s SME sector.

Addressing the extensive reach of the project, he mentioned that several other districts, eager to be a part of the initiative, had personally reached out, assuring them that their requests will be considered next year. He expressed his deep satisfaction that the opportunity is given to everyone, stating the ministry supports all prospective entrepreneurs.

A key highlight of the event was the presentation of appointment letters to selected entrepreneurs representing the 17 districts chosen for the initial rollout of the 4i Project this year. The launch event also featured a panel discussion where key personalities from public enterprises shared success stories and lessons learned from the successful pilot phase of the 4i Project, which was conducted in the Gampaha District. Attendees at the event included officials from the Ministry of Industries and Entrepreneurship Development, the Ministry of Public Administration, Provincial Councils and Local Government, officials of the National Productivity Secretariat, and representatives from the 17 participating districts.

The ‘National Climate Finance Strategy of Sri Lanka 2025 – 2030’ was launched last week as a comprehensive roadmap to leverage and channel climate investments effectively, supporting Sri Lanka’s transition to a carbon net zero pathway.

The initiative is led by the Finance Ministry, in collaboration with the United Nations Development Program (UNDP) through the Climate Finance Network project – funded by the Government of the United Kingdom.

The launch coincided with the International Day of Climate Action and the Strategy underscores Sri Lanka’s commitment to accelerating climate resilience and sustainable development through strategic financial planning.

As the global climate crisis intensifies, countries like Sri Lanka are grappling with the dual challenge of managing climate risks while financing a just transition. With climate-related damages exceeding Rs. 50 billion annually, financing climate action is central to Sri Lanka’s development agenda.

Speaking at the launch of the Strategy, Secretary to the Treasury Dr. Harshana Suriyapperuma said: ‘the National Climate Finance Strategy is a critical enabler for Sri Lanka’s climate ambitions. It provides the financial architecture needed to operationalise climate policies and plans, ensuring that we can build resilience, reduce emissions and protect vulnerable communities.’

UNDP Sri Lanka Resident Representative Azusa Kubota said: ‘Financing climate action is not just about managing risks – it’s about unlocking opportunities. This Strategy will help Sri Lanka attract smart investments, foster innovation, and build a climate-resilient economy that benefits all. UNDP remains committed to supporting the operationalisation of the Strategy by working on one of the proposed solutions – Green Revolving Fund – while ensuring that its priorities translate into tangible action across sectors.’

British High Commissioner Andrew Patrick said: ‘Sri Lanka’s Climate Finance Strategy creates a strong foundation for international collaboration. When countries clearly articulate their climate goals it opens doors not only to climate finance but also to responsible investment. The UK is proud to support Sri Lanka in its journey toward a resilient, low-carbon future.’

This milestone strengthens Sri Lanka’s capacity to access international finance and align national planning with climate priorities. The Strategy identifies twelve key financial instruments – including disaster risk insurance, green bonds, public-private partnerships for climate action, natural capital accounting, entrance fees green revolving fund, carbon markets and environmental, social and governance (ESG) swaps – to leverage resources and drive climate action across sectors.

With its first review scheduled for 2027, the Strategy marks a decisive step toward aligning Sri Lanka’s development agenda with global climate goals. As the global community prepares for COP30, Sri Lanka’s National Climate Finance Strategy presents an opportunity for partners and stakeholders to support the country’s climate commitments to mobilise resources, strengthen implementation, and advance progress toward the Paris Agreement and the Sustainable Development Goals.

A special audit conducted by the Auditor General’s Department on the e-Visa system has revealed that companies involved in the project failed to pay more than $ 1.4 million in taxes due to the Inland Revenue Department.

According to the Auditor General’s report, GBS Technology Services and IVS Global-FZCO, operating under VFS VF Worldwide Holdings Ltd., collected the 2.5% Social Security Contribution Levy and 18% Value Added Tax from visa applicants between April and August 2024.

However, the companies did not remit these amounts, $ 172,970 in SSCL and $ 1,245,390 in VAT, resulting in a total unpaid tax liability of $ 1,418,360.

The audit noted that the firms processed 373,991 visa applications during this period, earning at least $ 6.9 million in service-fee revenue. It also found that they generated an additional $ 1.8 million from visa-fee-waiver countries, where tourists were exempt from paying visa fees but were still charged a service fee.

These collections, the report said, would not have occurred under the previous Electronic Travel Authorization (ETA) system.

The Auditor General’s Department further observed that all applicants, including those entitled to free visas, were required to pay a service fee of $ 18.50 under the new system.

Under the former ETA arrangement, no such fee existed, and an approved proposal had recommended a nominal charge of only $ 1. The audit questioned the rationale behind this sharp increase, particularly for tourist and business visa categories designed to attract arrivals.

The report highlighted several other irregularities, including the failure to remit collected taxes, excessive and unjustified service fees, and the absence of a competitive bidding process.

It said that GBS Technology Services and IVS Global- FZCO, a VFS VF Worldwide Holdings LTD-led consortium were selected without a formal tender, in violation of Government procurement rules, depriving the Department of Immigration and Emigration of the opportunity to obtain competitive rates.

The Auditor General’s Department also revealed that all visa-related revenues between April and August 2024 were routed to foreign bank accounts controlled by private operators instead of official Government channels.

As a result, the Department had no verified record of the total revenue collected, making it impossible to confirm how much was earned through the e-Visa system.