Category: Daily Financial Times

The Sri Lanka national netball team heads to Hong Kong with a clear mission: reclaim the Asian championship and secure qualification for the 2027 Netball World Cup in Sydney.

The 14th Asian Netball Championship, scheduled from 8-15 August 2026 at the Kai Tak Arena (Sports Hall), is more than just a continental tournament. It serves as the official Asian qualifier for the 2027 World Cup, with only the top two teams earning the right to represent the region on netball’s biggest stage.

For Sri Lanka, this championship represents an opportunity to reaffirm its status as one of Asia’s traditional netball powerhouses.

Few nations in Asia can match Sri Lanka’s rich history in netball. The Sri Lankan women have long been among the continent’s elite, winning the Asian Netball Championship a record six times and consistently challenging for top honours. Throughout the competition’s history, Sri Lanka, Singapore and Malaysia have dominated the podium, highlighting the fierce rivalry among the region’s strongest nations.

That proud tradition gives Sri Lanka a psychological advantage. The current squad understands the expectations that come with wearing the national colours and knows that success is measured not merely by reaching the semi-finals but by lifting the trophy.

Sri Lanka enters the tournament carrying valuable momentum from the previous Asian Championship in Bengaluru. The team reached the final after displaying disciplined, attacking netball before narrowly losing to Singapore in an extra-time thriller, 67-64.

Although the defeat was heart-breaking, it demonstrated that Sri Lanka possesses the quality to compete with the very best in Asia. More importantly, the experience exposed areas requiring improvement, particularly maintaining consistency under pressure and managing the closing stages of high-intensity matches. The lessons learned from that final could prove invaluable in Hong Kong.

If one team stands between Sri Lanka and another Asian title, it is Singapore. The defending champions have established themselves as one of the most tactically disciplined sides in Asia. Their fast transitions, excellent shooting accuracy and structured defensive systems make them extremely difficult to beat.

Sri Lanka has shown repeatedly that it can match Singapore physically and technically. However, recent encounters have often been decided by fine margins, with composure during crucial moments making the difference. If Sri Lanka can maintain concentration throughout all four quarters, particularly in the final minutes, reversing the 2024 result is certainly within reach.

Malaysia remains another serious contender. Traditionally one of Asia’s strongest programmes, Malaysia combines athleticism with disciplined teamwork and has consistently challenged for medals at regional competitions.

Matches between Sri Lanka and Malaysia have historically been closely contested. Winning this encounter could determine which nation reaches the final and ultimately qualifies for the World Cup.

Playing on home soil always provides an extra advantage. Hong Kong will enjoy familiar conditions, enthusiastic local support and increased confidence at the Kai Tak Arena. While they may not possess the historical success of Sri Lanka, Singapore or Malaysia, home support often inspires teams to exceed expectations.

Sri Lanka must therefore avoid complacency against the hosts. Sri Lanka possesses several qualities capable of leading the team to success.

The first is experience. Many players have competed in multiple international tournaments and understand the pressure associated with major championships. Secondly, Sri Lanka traditionally excels through aggressive defensive play. Strong interceptions, quick turnovers and relentless pressure frequently disrupt opponents’ attacking rhythm. Thirdly, the team’s speed in transition allows it to convert defensive gains into scoring opportunities rapidly. When this system functions effectively, Sri Lanka becomes extremely difficult to stop.

Another important strength is team chemistry. Unlike many nations that rely heavily on individual brilliance, Sri Lanka generally succeeds through collective teamwork, accurate passing and disciplined movement across the court.

Despite its strengths, Sri Lanka must address several weaknesses if it hopes to lift the trophy. Maintaining shooting accuracy throughout an entire match remains essential. Against elite opponents, every missed opportunity can prove costly. Reducing unforced errors will also be critical. Simple passing mistakes and unnecessary turnovers often allow experienced teams such as Singapore to seize momentum.

Fitness could become another deciding factor. The tournament schedule is demanding, and recovery between matches will play an important role. Maintaining peak physical condition throughout the week may ultimately determine who reaches the final. Mental resilience will perhaps be the greatest factor. Championship matches are frequently decided not by talent alone but by composure under pressure.

While winning the Asian title remains the immediate objective, qualification for the 2027 Netball World Cup is equally significant.

Only the top two teams in Hong Kong will book their place in Sydney, making every match effectively a World Cup qualifier. The competition therefore carries enormous pressure, particularly for traditional powers expected to secure qualification.

For Sri Lankan netball, returning to the World Cup would provide greater international exposure, stronger competition against the world’s elite and valuable experience for the next generation of players.

Based on recent performances, historical achievements and the balance within the current Asian landscape, Sri Lanka enters the tournament as one of the leading favourites.

Singapore remains the benchmark, but the gap between the two teams is remarkably small. Malaysia also possesses genuine title ambitions, while Hong Kong could emerge as a dangerous outsider.

If Sri Lanka performs to its potential, remains disciplined in defence, converts scoring opportunities consistently and handles pressure in decisive moments, there is every reason to believe the Lionesses can reach another Asian Championship final.

More importantly, they appear well positioned to finish inside the top two and secure qualification for the 2027 Netball World Cup.

The road to Sydney begins in Hong Kong, and for Sri Lanka, the opportunity is clear. With a proud legacy behind them and a talented squad ready to compete, the Lionesses have every chance to once again establish themselves as the queens of Asian netball.

The 12-member Sri Lanka Senior Netball squad: Thishala Algama (Capt.), Thilini Wattegedara (VC), Gayani Dissanayake, Dulangi Wannithilaka, Gayanjali Amarawansa, Rashmi Perera, Chalani Neesha, Bashi Udagedara, Rukshala Hapuarachchi, Thumalka Ekanayake, Thimi Wasanthapriya and Anjalika Thilakaratna. Stand byes – Samindi Rasangi, Hasini Ishara, Rukshala Hapuarachchi.

Governance today faces unprecedented uncertainty. Technological breakthroughs, global economic volatility, climate disruption, and social transformation have created a world where change is rapid, complex, and interconnected. Traditional policy-making, designed for stability and linear causality, is no longer adequate.

The question for governments is clear: How can policies be designed to anticipate, respond to, and thrive amid uncertainty? The answer lies in adaptive policy frameworks-dynamic approaches that enable continuous learning, strategic foresight, and evidence-based adjustments.

Limitations of conventional policy approaches

Traditional policies are often static: drafted, approved, and implemented with minimal adjustment. Their weaknesses include:

Delayed responsiveness: Interventions are reactive rather than proactive.

Rigid procedures: Inflexible implementation reduces adaptability.

Sectoral silos: Policies designed in isolation produce unintended consequences.

Limited learning mechanisms: Few systems capture lessons and feedback for improvement.

Such limitations make conventional policy vulnerable to failure in volatile, uncertain, complex, and ambiguous (VUCA) contexts.

Principles of adaptive policy frameworks

Adaptive policies are iterative, evidence-based, and flexible. Key principles:

Iterative design: Policies evolve based on feedback and emerging evidence.

Scenario planning: Multiple plausible futures guide risk and opportunity assessment.

Cross-sector alignment: Interdependencies among sectors are considered.

Embedded monitoring: Real-time performance indicators guide continuous refinement.

Stakeholder engagement: Citizens, businesses, and civil society shape policy design.

This approach ensures policies remain resilient, responsive, and aligned with societal needs.

Strategic foresight: anticipating the future

Integrating foresight into policy design allows governments to:

Detect early warning signals of social, economic, or environmental shifts.

Explore multiple scenarios to prepare for uncertainties.

Develop flexible interventions adaptable to evolving contexts.

Align short-term actions with long-term strategic goals.

Foresight is especially critical in areas like climate adaptation, urban planning, labor market transformation, and technological innovation, where proactive measures prevent crises and optimise outcomes.

Mechanisms for adaptive policy implementation

Governments can operationalise adaptive policies through:

Policy labs: Testing and refining policies on a small scale before scaling.

Real-time analytics: Using integrated data streams to monitor trends and evaluate interventions.

Interagency collaboration: Coordinated multi-dimensional responses across ministries and agencies.

Learning networks: Sharing insights and lessons to improve institutional capacity.

These mechanisms embed continuous learning and agility within governance structures.

Leadership imperatives

Adaptive policy-making requires leaders who:

Promote experimentation and responsible risk-taking.

Understand system interconnections and complexity.

Foster collaboration and trust across institutions.

Prioritise long-term resilience over rigid compliance.

Leadership is distributed, facilitative, and forward-looking, empowering institutions to respond to emerging challenges effectively.

Opportunities for Sri Lanka

Sri Lanka can institutionalise adaptive policy frameworks by leveraging:

Strong administrative traditions

Digital infrastructure and analytics capabilities

Skilled public service personnel

Growing citizen engagement and demand for accountability

By doing so, the country can anticipate risks, align national and local policies, improve service delivery, and strengthen public trust.

Conclusion

The era of static policies is over. The future belongs to governments that learn, adapt, and anticipate. Adaptive policy frameworks combined with strategic foresight create resilient, responsive, and future-ready governance. For Sri Lanka, embracing this approach is not just a reform-it is a strategic necessity.

SDB bank inaugurated its new Business Centre at Union Place, Colombo, reinforcing its position as a value-based, customer-focused financial institution expanding corporate and business banking services while staying true to the Bank’s ethos of customer-centric excellence and sustainable growth.

By bringing its expertise closer to corporate decision-makers, entrepreneurs, professionals, and mass-affluent clients, SDB bank aims to strengthen long-term partnerships founded on trust, accessibility, and shared prosperity.

The opening also reflects the Bank’s vision of connecting businesses and individuals with national development by directing investments toward SME empowerment, community upliftment, and inclusive financial solutions that drive Sri Lanka forward.

McLarens Lubricants Ltd., was the Official Lubricant Partner of young karting talent Tanasha Raddella, supporting her as she continues to progress in her racing career.

Tanasha delivered an outstanding performance in the Cadet category at Round 3 of the IAME Series Sri Lanka, held on 1 and 2 August 2026 at SpeedBay in Bandaragama. Demonstrating exceptional talent, determination, and confidence on the track, she secured first place and made history as the first female driver to win a round of the IAME Series Sri Lanka a proud achievement for Tanasha, her team, and everyone supporting her journey.

Tanasha continues to demonstrate the discipline, courage and competitive spirit required to progress in motorsport. Her achievements also serve as an inspiration to girls aspiring to pursue opportunities in motor sport.

McLarens Lubricants Managing Director Chaminda Gunarathne said: ‘We are extremely proud to support Tanasha as her Official Lubricant Partner. Her passion, discipline, and determination at such a young age are truly inspiring. At McLarens Lubricants, we strongly believe in empowering young talent and creating equal opportunities for future generations. We look forward to being part of Tanasha’s journey as she continues to pursue excellence and represent Sri Lanka on the international racing stage.’

The partnership reflects McLarens Lubricants’ commitment to supporting performance, ambition, and emerging talent within Sri Lanka’s motorsport community. Tanasha currently leads the IAME Sri Lanka Championship and is placed fifth in the IAME Malaysia Series, while also competing in the Malaysian Karting Championship. Continuing her international racing journey, she is set to compete in the Cadet category at the IAME Asia event on 8 and 9 August 2026, followed by the Asia Pacific Motorsport Championship in Thailand in October 2026 and the Dubai National Cup in December 2026.

Given the volatility of the prevailing global economic environment, caused primarily by a collapsing post-World War II economic order, but worsened by the two wars in Europe and the Middle East, developing countries like Sri Lanka are left with no other option but to be extremely pragmatic rather than sticking to dictates of economic theories and political doctrines so that at least a respectable level of growth and development could be achieved. This basic fact should be kept in mind by those who jump to criticise the economic performance of Sri Lanka’s current presidency and government.

Tenets of pragmatism

Tenets of pragmatism rather than radical ideologies seem to be the guiding principle driving the AKD-NPP leadership since they came to power in 2024. Yes, system change is their goal, but should that pass through a chaotic and violent phase to reach? That sadly seems to be the expectation of some of the local pessimists.

The current leadership inherited an economy, which had been the victim of a political culture that not only converted the nation’s parliamentary democracy into a vehicle to produce a form of dynastic rule headed by a few prominent families of pre-independence era, but also transformed the art of national governance and its legislative, executive and judicial branches into a network to accumulate private fortunes with impunity.

Only now under the new leadership the actual magnitude of this misgovernance and the extent of damage it had caused to the nation is beginning to come to light because of AKD’s ‘cleanup campaign’ and restoration of judicial independence.

There is now a new cry that judicial independence is under threat because of the extension of judges’ retirement age. Captains of the ancient regime are trying hard to bring down this presidency and government at any cost which itself is an index of proof that AKD is translating his promise into action that he would end the previous ‘rotten political culture through a social revolution’.

More to be done to realise ‘system change’

However, there is more to be done to realise ‘system change’. For instance, no constructive step has yet been to materialise ethnic reconciliation. It has been 43 years since JR unleashed his July pogrom against the Tamils, and before him and from the time of SWRD the national cancer of a politically motivated ethnic hatred fertilised by political Buddhism had remained a bulwark against national unity. It is time President AKD, and the NPP Government take at least the preliminary step of appointing an expert committee to work on a new constitution without which ethnic reconciliation cannot receive statutory strength. That constitution should above all abolish the executive presidency as promised before the election. Is the President waiting till the tail end of his five-year term to do these? It is better to start the spade work now Mr. President.

With all these minuses there is one plus sign regarding the economy’s health. When the new leadership took over the country’s presidency and Government, IMF – the watchdog of a rotten global economic order, was already here for the seventeenth time thanks to the desperate move by the stop-gap president Ranil Wickremasinghe. Despite their schooling in radicalism AKD and his JVP entourage sacrificed their revolutionary ethos and adopted the path of pragmatism to achieve their radical objectives of clean governance, economic development with equity and improved public welfare. Hence, their acceptance of IMF’s financial and economic engineering. As a result, the country has recaptured its upper-middle income status and according to the latest S and P global rating Sri Lanka’s Long and Short-term crediting ratings stand at CCC+/C while maintaining a stable outlook, continued economic recovery with 5% growth in 2025 and improvement in fiscal management. President AKD’s 2027 Budget optimism expressed recently, where he expects a record Budget surplus of Rs. 197 billion against the Rs. 236 billion deficit a year earlier; revenue and grants increasing by 23.9% to Rs. 2.32 trillion; primary surplus expanding by 52.3% year to year to Rs. 1.13 trillion and export growth of a modest 7.3% are evidence that substantiates IMF’s and international agencies positive assessment of the economy. Yet, the critics ignore these facts and go on expressing persistent pessimism about the achievements of the new leadership. AKD’s record of clean governance and pragmatic approach to the country’s economic issues deserve appreciation.

Challenges

Yet, there are challenges even in the economic arena. For instance, the burden of economic restoration so far had been shared unequally, and the low-income earners had carried a heavy burden. The IMF’s fiscal philosophy of broadening the tax base goes against the principle of equity through economic growth. Even now before releasing the next tranche of the $3 billion grant, the IMF is insisting on reforming the method of tax collection and not changing the tax structure. Meanwhile the poverty rate of 24.5% in 2024 which was expected to decline to 22.7% in 2025 is still too high and shows that the benefits of IMF steered economic growth is not trickling down fast enough to uplift the downtrodden. The biggest problem facing the Government is to find enough resources to rejuvenate the rural sector to become more productive. All this requires a comprehensive economic plan which is anathema to the IMF’s open economy and market-led approach.

But US that championed this approach since the end of WWII is currently headed by a president who, in the words of Robert Reich an eminent American political economist, ‘is willing to violate, all norms, rules and laws about how US presidents are supposed to act’ and doing ‘anything that helps him accumulate more wealth, power and glory and wreak vengeance on anyone who has tried to get in the way’, has become the chief enemy of IMF’s economic philosophy. Can the IMF stop him? If not why resist economic planning in smaller economies? All these inconsistencies and systemic breakdown had prompted a new generation of youth from the US to India to rise up against the ruling economic order with their demand for system change. To Sri Lanka’s credit it was the 2022 Aragalaya that lit this fire of protest. There will be setbacks no doubt, but the future belongs to this new generation. Once the economy is set on strong footing other items on the agenda should take precedence. There is room for optimism. Let the pessimists have their say but the caravan must move.

Sri Lanka hosted its first fashion show focused entirely on activewear recently as Luxe Active Edit 2026 brought nine local and international brands to the runway at Cinnamon Life, City of Dreams.

The show was organised by FITCON, in partnership with Fit.lk and Haut Monde Event Management.

Previously, sportswear in Sri Lanka appeared only as segments within broader fashion events. Luxe Active Edit bridged this gap by providing a standalone platform for the first time. The event was led by Haut Monde Event Management Founder Treshan Weerasooriya Pereira, alongside Fit.lk Co-founders Natasha Fonseka and Isuru Fonseka.

Speaking about the concept of the event, Pereira mentioned it emerged from FITCON, the larger fitness convention managed by the team. ‘We recognised the need for a dedicated platform that celebrates this growing movement, which inspired us to launch Luxe Active Edit as a standalone fashion showcase. Our vision is to continue growing this platform and establish it as an annual event that brings together fashion, fitness and lifestyle in a meaningful way.’

The lineup featured nine brands. Ministry of Brands, Club Tropikai, and Rough Premium Sportswear participated, while Victory Shoes showcased its latest footwear range. F10, founded by former Sri Lanka rugby captain Fazil Marija, presented a performance-focused collection, and lingerie and lifestyle brand Amante displayed its recent athleisure line. International brands included ASICS, presented by DSI International Brands, and PUMA, alongside TRU Activewear, which featured a collection made from eco-friendly fabrics.

Commenting on the event, Fonseka said, ‘the response to the inaugural edition exceeded expectations. Athleisure has transformed the way people approach fashion, proving that comfort and confidence go hand in hand. Beyond fashion, this platform represents strength, resilience and inclusivity. We hope Luxe Active Edit continues to inspire greater innovation in activewear while encouraging brands to create products that support individuals across all sports, fitness levels and lifestyles, particularly in areas that remain underrepresented.’

The event’s main feature was a pop-up retail section showcasing the collections from the participating local designers, emerging labels, and international brands. By dedicating a runway exclusively to activewear, Luxe Active Edit 2026 establishes a new path within the Sri Lankan fashion industry.

Nearly 29% minority stake of Commercial Credit and Finance PLC traded yesterday for a staggering Rs. 9 billion.

The seller was Group Lease Holdings Pte Ltd., (in liquidation), which, as at 30 June 2026, held 95.4 million shares or 29.99% stake.

Group Lease Holdings is a Singapore-registered investment and holding company and a subsidiary of Thailand-based Group Lease PCL. The company was ordered into compulsory liquidation by a Singapore court on 4 March 2024 following a massive unpaid judgement debt owed to J Trust Asia.

Commercial Credit overall saw 93.04 million shares change hands via 2,008 trades, generating a turnover of Rs. 9.39 billion before closing at Rs. 107.50, up by Rs. 1.75. Of that, 89 million shares were done via 98 crossings at Rs. 100.50 per share. Net assets per share as at 30 June 2026 was Rs. 116.85.

In the June 2026 quarter, the highest share price of Commercial Credit was Rs. 137 and the lowest was Rs. 108.75 before closing at Rs. 120.

Deals on Commercial Credit boosted the turnover at the Colombo Stock Exchange (CSE) to Rs. 12.2 billion, the second highest since the 8 January 2026 figure of Rs. 12.33 billion.

The shareholder with ownership and management control is B.G. Investments Ltd., and related parties who have a collective stake of over 51%. Public shareholding of Commercial Credit was 19% held by 7,541 shareholders.

Buyers included Phantom Investments of electronic media baron Rayynor Silva, funds managed by Lynear Wealth and Asia Securities.

The selling broker was Asia Securities, which said the block was acquired by a consortium of investors.

‘This transaction represents two major milestones for the CSE,’ Asia Securities added.

It was the largest book-built trade in CSE history, setting a new benchmark for structured institutional transactions and it was also the largest single trade on the CSE in 2026, delivering a major injection of investor confidence and liquidity amid recent market volatility driven by Middle East geopolitical tensions.

Apart from investor interest on Commercial Credit, the market also remained positive, with ASPI up over 102 points or 0.49% and the active S and P SL20 by 26 points.

Separately, Asia Securities said the market’s upward momentum was supported by CFIN (+4.5%), CTHR (+3.7%), DOCK (+2.4%), KHL (+2.3%), COCR (+1.7%), COMBN (+1.2%), DIAL (+0.5%), and MELS (+0.5%). CFIN (+14 points), COMBN (+13 points), CARG (+10 points), and CTHR (+8 points) closed the session as top positive contributors to the ASPI, while market breadth remained positive with 135 positive contributors and 79 negative contributors.

First Capital said the Diversified Financials sector dominated turnover with an 82% share, followed by the Retailing and Capital Goods sectors, which collectively contributed 11%. Meanwhile, foreign investors remained net sellers, recording a net outflow of Rs. 7.9 billion.

NDB Securities said high net worth and institutional investor participation was noted in Commercial Credit and Finance, Lanka Milk Foods and Dialog Axiata. Mixed interest was observed in Sampath Bank, John Keells Holdings and Sierra Cables whilst retail interest was noted in SMB Leasing, Waskaduwa Beach Resort and HNB Finance.

The share price of Mercantile Investments and Finance moved down by Rs. 1.50 (6.38%) to Rs. 22.

Retailing sector was the second highest contributor to the market turnover (due to United Motors Lanka) whilst the sector index increased by 1.32%. The share price of United Motors Lanka closed flat at Rs. 26.50.

Sampath Bank and John Keells Holdings were also included amongst the top turnover contributors. The share price of Sampath Bank recorded a loss of 25 cents to Rs. 136.25. The share price of John Keells Holdings closed flat at Rs. 20.

The Non-Governmental Organisations (Registration and Supervision) bill (L.D.-O. 6/2026) seeks to repeal and replace the Voluntary Social Services (Registration and Supervision) Act, No. 31 of 1980. It will extend government supervision beyond ‘voluntary social service activity’ namely ‘any activity intended or carried out for the purpose of providing relief or for the welfare of physically, mentally or socially handicapped persons, including the destitutes, the displaced, the disabled and the unemployables’ to ‘non-profit oriented activity,’ defined as ‘any activity other than a voluntary social service activity, carried out for charitable or socially beneficial purposes, not intending profit generation and includes advocacy.’

Its stated objective is ‘to make provision to register and supervise all non-governmental organisations, including Voluntary Social Service Organisations, under one authority for the purposes of more effective facilitation, coordination and regulation of the activities of such organisations.’ No justification is provided beyond this assertion in the preamble.

Why control?

It is reasonable to ask why a Government that cannot exert effective control over its prisons and foreign-debt repayments (both core activities of the state) wants to control the activities of those providing social services without the use of taxpayer funds (the rationale for current VSSO Act). If the Government is giving taxpayer money to a social service organisation, conditions may be imposed on the grant without going to all this trouble. And what is the rationale for wanting to supervise CSR activities of for-profit entities if they are not specifically mentioned in the Articles of Association (section 2(3))?

To the best of my knowledge, there has been no performance audit of the NGO Secretariat that has been functioning for over four decades. It is illogical to create a Competent Authority (CA) that evokes emergency rule and add more powers to the NGO Secretariat and expand its scope absent such as assessment. The bill should be withdrawn until the completion of a performance audit of the NGO Secretariat under the current VSSO Act. This would be the basis for the formulation of legislation that will provide an effective solution to a real need.

It may be inferred that the motivation for the legislation lies in the need to ‘develop appropriate methodology to identify, assess and understand money laundering, terrorist financing and financing of proliferation of weapons of mass destruction risks of non-governmental organisations, and conduct monitoring of non-governmental organisations on a risk-based approach’ (section 4(1)(j)). If this is indeed the objective, It is unclear why the Government believes the CA and the NGO Secretariat, constrained by Government pay scales and rules, will possess the expertise that is now being developed at the far-better-endowed Financial Intelligence Unit (FIU), the Central Bank of Sri Lanka (CBSL) and the FCID. Finding evidence of money laundering etc. is not a simple matter. It requires specialised skills and access to information within banks. The CA and the NGO Secretariat possess neither of these attributes. The FIU, the CBSL, and the FCID do to varying degrees.

Optimal solution

Problems caused by money laundering and associated actions are better addressed by mandating each organisation considered as being potentially engaged in these activities to maintain audited accounts and submit them to their respective registering authorities. This obligation currently applies to all entities incorporated under the Companies Act, No. 7 of 2007. The Societies Ordinance, No. 16 of 1891 as amended, also has this requirement. If there are any others, such as political parties or entities created by Private Member’s Motions approved by Parliament, the requirement may be added through amendments to the relevant statutes. If the objective is legislation that can be shown as evidence of responsiveness to Financial Action Task Force (FATF) recommendations, this can take the form of a new Act.

The audited accounts may be published online by the relevant government authorities allowing any member of the public or any organisation to flag suspicious transactions for the attention of the FIU, CBSL or the FCID. If state institutions possess the capability, they may also use AI to proactively detect anomalies in the published accounts and initiate investigations.

This would make the proposed Bill (except for section 24(1) which repeals the VSSO Act) redundant.

Second-best solution

In the event the Government does not accept, for whatever political reason, the above solution to the problems of money laundering, etc. and insists on proceeding with this pernicious bill, the harm caused to fundamental rights as enunciated in Article 14(1) of the Constitution may be alleviated by a few amendments.

The duties set out in section 15 of the Bill, especially the duties to ‘Align with the policies of the Government’ and ‘Not induce or cause to induce any public disorder which affect safety and interests of the general public,’ may be made less offensive to democratic values. In many instances it is unclear what the Government policy on a specific matter is.

For example, the Department responsible for the implementation of the National Physical Plan has objected in writing to the extension of the Central Expressway to Galagedara and to the Ruwanpura Expressway. But the government has allocated funds for both and is proceeding with their construction. What is the policy NGOs must align with, and which can they protest?

What is the duty to ‘align’? Who decides whether the alignment is adequate? And why should every organisation in the country (other than those exempted) align with the policies of governments?

The broad sweep of the law subjects to intrusive government regulation the basic democratic right to advocate for changes in legislation (such as the present bill) and public policies. Take the case of a company advocating for legislative or policy changes, such as those affecting the mushrooming online betting industry. Would they be exempt if they claim that such actions are intended to bolster their profits (likely to blunt the power of their lobbying, but feasible)? But a not-for-profit organisation that is engaged in similar (but opposed) lobbying to regulate or ban online betting on the basis of the public interest be subject to censure or worse by the CA because it lacks a profit motivation. Policy making and legislative processes will be diminished by reducing the permitted voices to those of profit-motivated entities.

Who defines what the interests of the general public are? How does one differentiate between ‘peaceful assembly’ guaranteed by the Constitution and ‘public disorder’? The drafters are directed to the Janaghosha decision (Amaratunga v. Sirimal and others (1993) 1 Sri L.R. 264. SC APPLICATION NO. 468/92)

It would be necessary to radically reduce the draconian powers granted to the CA by section 5, 15, 16, and 17 by ensuring that court orders are sought for any intrusions into the functioning of entities created by citizens in the course of operationalising their rights under the Constitution, including but not limited to Article 14(c ) the freedom of association, and Article 14(f) freedom to enjoy and promote his own culture.

It is only reasonable that the CA, even if left with diminished powers as proposed above, be shielded from political direction and influence. This would necessitate amending the current bill to require the CA (ideally a differently named collegial body) to be appointed with the concurrence of the Constitutional Council as the Attorney General conceded in the case of the Online Safety Bill. The appropriate provisions for reappointment, remuneration, term and removal may be taken from prior legislation.

The Frontline Socialist Party (FSP) yesterday challenged the Government’s justification for increasing the retirement age of all judges by two years, arguing that the proposed constitutional amendment was not intended to bring wrongdoers to book or reduce court delays, but instead undermined judicial independence.

Speaking at a media briefing, FSP Secretary (Education) Pubudu Jayagoda said the Government’s argument that extending the retirement age of judges would help end corruption-related cases was misleading, as such cases are not heard in the Supreme Court in the first instance.

He noted that the majority of judges hearing these cases in the Magistrates’ Courts and High Courts are between the ages of 30 and 50, making it unlikely that retirements would interrupt ongoing proceedings.

Jayagoda also rejected the suggestion that only the current judges could ensure accountability, saying it was an insult to the judiciary to suggest that newly appointed judges would be unwilling or unable to uphold the law.

‘This move by the Government is not to catch thieves but is breaching the rights of the people,’ he claimed.

He argued that delays in the judicial process could be addressed by filling long-standing vacancies in the Supreme Court and the Court of Appeal, appointing additional judges to lower courts, increasing judicial staff, and removing procedural bottlenecks.

Jayagoda accused the Government of citing delays while failing to fill key judicial vacancies.

He said increasing the retirement age of judges and retaining the existing cadre for a longer period would not resolve the delays and backlog of cases.

According to Jayagoda, the Government was citing delays in the judicial process while failing to address existing vacancies in the higher courts, including four vacancies in the Supreme Court and four in the Court of Appeal, which have remained vacant for a long period.

He also pointed out that there were around 50 vacancies in pre-trial courts and another 50 in Small Claims courts, while only 33 Magistrates had recently been recruited on the grounds that no funds had been allocated.

He said President Anura Kumara Dissanayake had the authority to fill these vacancies and improve the efficiency of the judicial system.

Claiming that the Attorney General’s Department was facing a shortage of around 200 officers, Jayagoda further questioned the Government’s rationale for focusing on extending retirement ages while failing to address these critical shortages.

The FSP also criticised both the Government and the Opposition, claiming that successive administrations had compromised judicial independence through politically motivated appointments to the office of Chief Justice.

The FSP called on the public to oppose the proposed amendment and urged them to form an independent people’s movement outside Parliament rather than relying on either the Government or the Opposition. (SS)

The Sri Lanka Export Development Board (EDB), in partnership with the International Finance Corporation (IFC) and with the support of the European Union (EU) under the ‘Accelerating Climate Smart and Inclusive Infrastructure in South Asia (ACSIIS)’ program, has launched the third cohort of ‘ExpoScaleUp’, a flagship program designed to help Sri Lankan SMEs compete and grow in international markets.

The four-day intensive program brought together 25 high-potential SMEs from across the country to strengthen their export readiness through the development of practical, market-oriented Export Marketing Plans. Participants received expert guidance from an internationally recognised export marketing specialist from the Netherlands, with support from a trained EDB coaching team.

ExpoScaleUp is a key component of the Sri Lanka Export Excellence Initiative (SLEEI), a flagship export development program jointly implemented by EDB, IFC and the EU. The initiative aims to strengthen the competitiveness of Sri Lankan SMEs by enhancing their export readiness, market access, and long-term sustainability.

Since its launch in January 2025, ExpoScaleUp has completed two cohorts, supporting 50 SMEs. The programme has already helped five companies secure their first export orders and supported 38 others obtain internationally recognized certifications, join international trade fairs, and participate in overseas market exposure activities.

These results highlight the value of combining capacity building, tailored coaching, and targeted market access through strong collaboration between the public sector and international development partners.

Speaking at the inauguration, EDB Chairman and Chief Executive Officer Mangala Wijesinghe said programs such as ExpoScaleUp are vital to helping Sri Lankan SMEs move from export potential to export success. He noted that practical training, market exposure, and focused business planning are essential to building a stronger pipeline of competitive exporters capable of growing sustainably in international markets.

Participants in the third cohort will receive hands-on support to develop Export Marketing Plans tailored to their products, target markets, and business goals. Eligible companies that successfully complete the programme may also access further international market exposure and business development support through ExpoConnect – the programme component that connects SMEs with global partners.

Through this continued collaboration, EDB, IFC and the EU aim to develop a stronger pipeline of export-ready SMEs that can compete internationally and contribute to Sri Lanka’s national goal of reaching $36 billion in export earnings by 2030.