Category: Daily Financial Times

Having somewhat regained their form with a convincing nine-wicket win against Zimbabwe on Tuesday, Sri Lanka face their final hurdle when they confront hosts Pakistan today in what could be another do-or-die contest in the T20I Tri-Series in Rawalpindi.

A win will see Sri Lanka face Pakistan in the final on Saturday, whereas a loss will enable Zimbabwe to sneak through to the final on a better net run rate. Sri Lanka are too good a side to let that happen and, if the way they performed against Zimbabwe is anything to go by, they should beat Pakistan and contest the final.

Sri Lanka bowled and batted as if possessed and raised their game a notch higher to defeat Zimbabwe and outplay them. There is nothing like a win to boost the confidence of a team and Sri Lanka were desperate for one, having lost their last five T20Is before Tuesday’s victory. The win should hold them in good stead although Pakistan are not an easy side to beat going on their current form.

Today’s match is in Pakistan’s hands, whether they want Sri Lanka or Zimbabwe as their opponents in the final. Pakistan should also be reminded that this T20I Tri-Series would not have been taking place had Sri Lanka decided not to stay back and continue the tour after a bomb scare nearly resulted in half the team wanting to return home.

Sri Lanka’s target to hunt down 147 was all about Pathum Nissanka. Since that memorable 107 he scored against India in the final group match of the Asia Cup in September, Nissanka had failed to convert any of his starts into a big one until Tuesday, when he scored a 58-ball 98*. In that period, Sri Lanka suffered five consecutive white-ball losses (three ODIs and two T20Is). Although it should not be the case, when Nissanka fails, Sri Lanka fails.

‘We have seen the team struggling when Pathum is not amongst the runs. The players knew it and we had discussed it. We cannot always depend on Pathum; when he delivers, it’s good, but when he fails, someone else must put his hand up and score the runs,’ said Head Coach Sanath Jayasuriya.

‘In the batting department, the first four batters didn’t click properly. That was the key issue we were having and we were addressing it. Unfortunately, the players were getting a start and getting out. That was the problem we had. Also, we are not playing on wickets that we usually get in Pakistan; during winter it’s different-we have to adjust to it. It’s not an excuse but we should have batted well.’

‘Yesterday [Tuesday], they batted differently. Pathum got a start and he continued and Kusal Mendis from the other end gave him good support to finish the match in the 17th over. That’s how it should be. The top four batters in the order are important. We always expect one of them to play a big innings. I hope we can continue that way.’

Throwing further light on the conditions the players are fighting to overcome, Jayasuriya said: ‘This Tri-Series was scheduled to be held in Lahore, not in Rawalpindi, where it is the winter season. Pakistan don’t play any matches in Rawalpindi during this time of the year. As a result, the conditions are totally different.’

Modern day cricket hardly allows touring teams to have side games or practice matches because of the tight international schedules. So it is imperative to acclimatise to the conditions as quickly as possible.

Sri Lanka are likely to go with an unchanged side for today’s game.

Rootcode celebrated a remarkable night of recognition at the National ICT Awards (NBQSA) 2025, held recently at the Taj Samudra Hotel in Colombo, taking home six awards across several categories. The wins highlight Rootcode’s steady focus on technical excellence and meaningful innovation.

The National ICT Awards (NBQSA), organised by the Sri Lankan section of the British Computer Society (BCS) – The Chartered Institute for IT, is a platform for recognising excellence in ICT. Conducted annually since 1998, the awards celebrate outstanding achievements by individuals and organisations in developing high-quality ICT products, provide a platform for international recognition, and aim to elevate the quality and standards of Sri Lankan ICT solutions to compete globally.

At this year’s ceremony, ‘Clamigo by Rootcode’ earned a Gold Award in the Agriculture in Industrial Category and was also named the Best Product Presentation of the Year. Clamigo is an AI-driven smart farming solution built by Rootcode for the City of Porto, Portugal. It combines a mobile app and IoT sensors to support farmers with real-time insights on soil, weather, and crop health.

‘Urbanora by Rootcode,’ an AI-driven citizen engagement platform developed for the City of Prague, Czech Republic, won a Gold Award in the Citizen Services in Public Sector Category. This platform reimagines how cities connect with residents by simplifying issue reporting, automating service requests, and supporting multilingual, privacy-compliant workflows.

Rootcode’s unified business-operations platform – ‘Skapp’ received a Silver Award in the ICT Services Solutions in Business Services Category for its integrated suite of tools that streamline HR, project management, e-signatures, invoicing, and more.

‘Neuragrid by Rootcode’ brought home two awards-Silver in the Research and Development Projects Category and Bronze in the Resources, Energy and Utilities in Industrial Category.

Neuragrid is an AI multi-agent reinforcement learning-based energy grid optimisation tool that integrates directly with GridApps-D, an open-source framework from the United States Department of Energy.

Spanning industries from agriculture and public services to business solutions and energy management, Rootcode’s achievements at NBQSA 2025 reflect its broad technical capability and ability to deliver across different domains. These awards reinforce Rootcode’s mission to build meaningful technology that transforms industries and improves lives across the globe.

Rootcode is a global technology company specialising in software product engineering, based in Estonia and Sri Lanka. By leveraging AI and advanced technology, Rootcode delivers impactful digital solutions that power organisations worldwide, including three European Governments.

Sri Lanka’s 2026 Budget signals one of the strongest commitments to construction-sector investment in recent years, with more than Rs. 688 billion channelled into roads, housing, water systems, urban development and public infrastructure. The allocations, detailed in the BDO Budget Highlights 2026, outlines an ambitious rollout of projects expected to shape national connectivity, modernise cities and upgrade essential public services.

Highways dominate: A push to reconnect the country

The Transport, Roads and Highways Ministry receives the largest share, reflecting the government’s intention to re-activate suspended projects and deliver long-delayed transport corridors. Key provisions include: Rs. 342 billion for nationwide road development, Rs. 66.15 billion for the Kadawatha-Mirigama stretch of the Central Expressway, Rs. 10.5 billion and Rs. 20 billion for two further segments of Phase III, Rs. billion and Rs. 1.5 billion for land acquisition for the Kurunegala-Dambulla and Ruwanpura expressways, Rs. 330 million for feasibility work on a new elevated highway link to Marine Drive. This concentration of funding positions the road network as the backbone of the 2026 construction agenda.

Urban development: Building the next generation of cities

Urban development proposals signal an effort to reshape regional centres and improve municipal capability. Key provisions include:2 billion for feasibility studies across ten major towns, Rs. 500 million each for Matale access road widening and Ratnapura quarters relocation, Rs. 900 million for expanded waste-management facilities, Rs. 2.5 billion to strengthen local government infrastructure. These measures aim to lift the operational and planning capacities of fast-growing urban areas.

President and Finance Minister Anura Kumara Dissanayake

Housing and regeneration: Addressing urgent social needs

The 2026 Budget provides a wide span of housing interventions, from urban regeneration to community-specific projects. Key provisions include: Rs. 15 billion for the Urban Regeneration Project, Rs. 3 billion for low-income housing, Rs. 2 billion for disaster-displaced families, Rs. 5 billion for internally displaced communities, Rs. 4.29 billion to construct 2,000 houses for the Malayagam community, 1.18 billion for renovating older apartment complexes, Rs. 840 million for Kelani Valley Railway resettlement. This portfolio underscores a strong emphasis on housing affordability, resettlement, and structural rehabilitation.

Water and Irrigation: One of the year’s largest commitments

Water and irrigation receive nearly 200 billion, reflecting the sector’s vital role in agriculture and essential services. Key provisions include: Rs. 91.7 billion for major irrigation projects, Rs. 8.35 billion for small tank and canal upgrades, Rs. 6.5 billion for restoration of key canal systems, Rs. 5 billion for the Lower Malwathu Oya project, Rs. 85.7 billion for drinking water schemes, Rs. 1 billion for urban water improvements. Few sectors match this level of investment intensity within the 2026 Budget.

Industrial zones and public infrastructure: Supporting future growth

Additional allocations strengthen the industrial ecosystem and key public institutions:1 billion for new industrial zones, Rs. 1 billion for feeder/service zones, Rs. 2 billion for service zones in investment areas, Rs. 1.5 billion for reopening technology parks, Rs. 100 million for digital land systems.

Public-facility construction includes: Rs. 2 billion for the Inland Revenue Department headquarters, Rs. 500 million for Ratnapura City development, Rs. 500 million for Hatton and Matale town improvements, Rs. 200 million for new City Halls in Ampara and Monaragala, Rs. 2 billion for prison relocation and upgrades.

Implementation and procurement efficiency: A key sector expectation

With allocations of this scale spread across multiple ministries, industry stakeholders note that the effectiveness of the 2026 public investment program will depend heavily on timely implementation and efficient fund disbursement mechanisms.

Construction-sector professionals consistently emphasise the importance of: Streamlined procurement processes, Predictable project award timelines, Swift release of funds, and Transparent contracting procedures to ensure that allocated sums translate into real progress on the ground.

These expectations reflect a widely shared industry view that efficient implementation is essential for the full utilisation of the 2026 construction Budget, particularly given the significant commitments across highways, water infrastructure, and housing.

Taj Samudra unveiled Navratna in its new avatar last week, following a comprehensive and elegant renovation. The refreshed design blends contemporary sophistication with timeless artistic elements, creating a warm and vibrant atmosphere that elevates the dining experience.

The new menu pays homage to India’s rich culinary heritage while introducing refined interpretations of classic dishes, crafted with the finest ingredients and authentic regional flavours.

The reopening was marked with a special ceremony, celebrating the return of one of the city’s most cherished Indian dining destinations-now reimagined, revitalised, and ready to welcome guests to an exceptional gastronomic journey.

The 2026 Budget represents not just a financial roadmap, but a moral and strategic moment; one where public ambition for sustainable growth, environmental stewardship, and inclusive development must translate into real, bankable projects. While the Budget speech by President/Finance Minister Honourable Anura Kumara Dissanayake signals many promising directions (Full Budget Speech 2026), the challenge now is effective delivery. For investor firms this brings both an opportunity and a responsibility: to align vision with national priorities, and to mobilise capital, expertise and partnerships to turn policy into impact.

1. The big picture: What the 2026 Budget promises

The 2026 Budget is framed around three interlocking themes: economic recovery, investment confidence, and green transformation. In his speech, President Dissanayake emphasised replacing ‘cronyism with partnership,’ and embedding predictability and rule-based incentives to attract quality investment. Key structural reform measures include:

1. Amendments to the Strategic Development Projects Act and the Colombo Port City Commission Act, aimed at streamlining foreign direct investment (FDI) processes and making incentive systems more transparent.

2. A PPP (Public-Private Partnership) Act, with a draft bill submitted for public consultation and parliamentary approval.

3. A new Investment Protection Act, scheduled for passage in early 2026, to protect foreign and domestic investors.

4. Significant allocations to SMEs, rural credit, and agricultural value chains: loans of up to LKR 50 million for SMEs, concessional loans for agriculture via a New Comprehensive Rural Credit Scheme (NCRCS), and a dedicated ‘Sustainable Farmers’ Loan Fund’ (LKR 800 million) to support climate-smart farming.

5. A bold irrigation investment package, with Rs. 91,700 million allocated to lift up irrigation infrastructure and water systems.

6. A push for green energy, tied to new economic opportunities – including data centres, green hydrogen, and transport electrification.

These commitments align strongly with Sri Lanka’s broader climate goals: under its NDC 3.0 (2026-2035), the government places a major emphasis on mitigation and adaptation in sectors like energy and agriculture, with 75% of its emissions reduction target coming from the power sector and 7.5% from agriculture (UNFCCC).

2. What’s right: The strengths and strategic opportunities

A. Focus on core sectors: Agriculture and Irrigation

The emphasis on irrigation with nearly Rs. 91,700 million is a strong signal that the government regards water infrastructure not just as a social good, but as a core economic lever (Full Budget Speech 2026, Irrigation section). These investments are critical for stabilising farm productivity, enabling climate-resilient agriculture, and increasing rural incomes. By linking these irrigation investments with agricultural credit and value-chain financing, the Budget recognises that infrastructure alone is not enough: farmers need real support to translate water into value.

President Dissanayake has also highlighted the importance of transforming the livestock sector – especially dairy – into a commercial industry rather than subsistence farming. This shift could reduce Sri Lanka’s import dependence, support rural livelihoods, and build a value-add agricultural

sector.

B. Green energy with an economic twist

Rather than viewing green energy purely in environmental terms, the Budget ties renewables to industrial growth, export potential, and data-driven demand. This is smart because it aligns climate goals with economic (and revenue) goals.

The reform measures – PPP Act, Investment Protection Act – also send a signal of seriousness: investors need legal certainty, protection, and predictable deal structures.

Beyond policy, international development partners are already stepping in. For example, the World Bank Group has committed $150 million to support Sri Lanka’s energy transition, specifically to help scale solar and wind, modernise the grid, and de-risk payments to the Ceylon Electricity Board (CEB) by offering guarantees (World Bank).

C. Building competitiveness: SME and farmer financing

By allocating funds to SMEs and smallholder farmers, the government is showing that growth should not just be driven by mega-projects – but by the small businesses and farmers who power Sri Lanka’s rural economy.

The Sustainable Farmers’ Loan Fund (Rs. 800 million) is particularly noteworthy: its purpose is to help farmers adopt climate-resilient practices, invest in processing or storage, and scale sustainable farming systems.

Furthermore, the World Bank’s Rurban project (Rural-Urban Development and Climate Resilience) is aligned with this strategy. The Bank is providing $ 100 million to support smallholder farmers, improve irrigation on 71,000 hectares, promote modern climate-smart agriculture, and strengthen agri-food value chains.

D. Regulatory reforms to unlock investment

The steps to improve the investment climate are real and potentially transformative: legal instruments, PPP frameworks, and value-chain-focused zones for SMEs.

By building ‘auxiliary zones’ linked to main investment zones, the government is creating space for SMEs to integrate into industrial value chains and benefit from spillover effects.

3. The risks and gaps: What the Budget overlooks or undermines

Despite many forward-looking commitments, the 2026 Budget is not without serious challenges. These gaps, if unaddressed, could undermine its transformative potential.

A. Energy sector reform risk

While the Budget promises a green energy push, the real resources for key enablers – such as energy storage or grid modernisation – remain limited. The World-Bank program helps, but the scale of ambition (e.g., green hydrogen, transport electrification) requires more than incremental investment.

There is also a lingering risk around the Ceylon Electricity Board: unless it is reformed meaningfully, inefficiencies, losses, and financial stress could continue to be a bottleneck for new private investment.

B. Implementation risk and institutional capacity

Allocations in the Budget are promising, but delivery will be difficult. The PPP Act, Investment Protection Act, and FDI reforms all require strong institutions, transparent procurement, and long-term political commitment to be effective. Without building the relevant institutional capacity, many of these reforms might remain on paper.

Sri Lanka’s track record with large PPP projects is mixed. Poor contract design, opaque bidding, and misaligned incentives could lead to cost overruns or under-delivering.

C. Financing gap and long-term capital

Public funds will not be sufficient. To deliver on green energy, irrigation modernisation, and climate-smart agriculture, Sri Lanka needs billions of dollars in private and blended finance. The Budget’s signals are good, but they must be translated into bankable projects, de-risked structures, and a credible project pipeline to attract DFIs, impact investors, and corporates.

At the same time, lending to smallholder farmers carries real risks: default, climate shocks, price volatility. Without aggregation, insurance, and off-take mechanisms, credit may not translate into real, scalable transformation.

D. Accountability and monitoring shortcomings

The Budget speech is rich in aspiration, but weak on concrete monitoring mechanisms: What are the key performance indicators (KPIs)? How will irrigation funds be disbursed and tracked? Over what timeframe will PPPs and green projects be evaluated? Without a publicly accessible dashboard, progress will be difficult to measure, and trust will suffer.

There is also a risk of fiscal slippage: macroeconomic assumptions may not hold, especially given external risks (currency, debt, interest rates). Without strict fiscal discipline, the ambitions in the Budget could be undermined.

4. What needs to happen: From promise to reality

To maximise the potential of the 2026 Budget, several concrete actions are required. This is where NWG can play a catalytic role.

A. Develop bankable project pipelines

NWG should lead in structuring project-ready pipelines in high-impact areas:

1. Agrivoltaic + Drying Hubs: Combine solar power, crop-drying and processing, and farm clustering – financed via PPPs or blended finance.

2. Irrigation Electrification: Modernise irrigation systems using solar-powered pumps, smart water management, and drip infrastructure.

3. Green Hydrogen Pilot: Leverage off-peak renewables to produce green hydrogen (or green ammonia), exploring off-take via fertilisers, industrial use, or export.

These projects should come with full feasibility studies, financial models, ESG frameworks, community plans, and risk management structures.

B. Forge blended finance partnerships

Investment Firms should proactively engage with multilateral development banks, DFIs, impact funds, and private equity to mobilise blended capital:

Use concessional capital or grant funding to de-risk early-stage infrastructure.

Provide credit enhancements or guarantees for SME and farmer financing.

Build an ‘investment platform’ for green infrastructure and agritech – standardised documents, co-investment vehicles, ESG frameworks.

C. Policy advocacy and technical support

Investment firms must work with relevant ministries – Finance, Power, Irrigation, Agriculture – to operationalise Budget reforms:

Co-draft PPP tender documents, PPA (Power Purchase Agreement) templates, and model investor contracts.

Help establish a national monitoring platform / dashboard to track disbursements, project milestones, and social/environmental outcomes.

Provide technical support to improve regulatory frameworks (e.g., grid access, tariffs, permitting) to accelerate project deployment.

D. Strengthen farmer aggregation and off-take mechanisms

To reduce credit risk and build scale:

Partner with farmer cooperatives, agribusinesses, and extension agencies to aggregate supply – cluster farmers into value chains.

Secure off-take agreements with processors, exporters, or local industries to guarantee demand for farmers’ output.

Introduce crop-insurance or climate-risk hedging products, to protect farmers (and financiers) from shocks.

E. Promote transparency and accountability

To build trust and ensure impact, NWG should advocate for:

A public project monitoring dashboard that tracks allocations, disbursements, and outcomes.

Independent third-party verification (DFIs, civil society) of project progress and social/environmental impact.

Regular stakeholder forums (government, private sector, communities) for review, feedback, and course correction.

5. How others can join hands with investment firms

To unlock the full potential of the 2026 Budget, collaboration is vital. Here’s how different actors can partner:

Development Finance Institutions (DFIs): Co-finance with NWG to provide concessional debt, guarantees, or grants for high-impact green-agriprojects.

Impact Investors / PE Funds: Invest alongside NWG in agrivoltaics, green hydrogen, SME value chain firms – with risk mitigated via blended vehicles.

EPC and Technology Providers: Deliver design, build, operation for renewable + storage + irrigation systems in NWG-led projects.

Agribusinesses / Exporters: Enter off-take contracts with NWG-aggregated farmer clusters; invest in processing/value-add.

NGOs and Civil Society: Support farmer training, social impact, and community engagement in NWG projects.

Government / Regulators: Partner with NWG on policy implementation, PPP frameworks, and project monitoring.

6. Risks we must watch – and how to mitigate them

For the investment firms and its partners, the major risks include:

1. Political/Policy risk: Promised reforms may be delayed or diluted.

Mitigation: Negotiate MOUs, anchor government commitment, do phased deals.

2. Execution risk: Infrastructure projects may overrun.

Mitigation: Use experienced EPC partners, rigorous procurement, and strong governance.

3. Market risk: Off-take (e.g., for hydrogen or processed crops) may not materialise.

Mitigation: Anchor demand via binding contracts, diversify markets, use blended finance.

4. Credit risk: Farmers default due to climate or market shocks.

Mitigation: Use aggregation, insurance, technical support, risk-sharing mechanisms.

5. Financial risk: Macroeconomic instability (currency, debt) could undermine viability.

Mitigation: Use multi-currency financing, hedging, cautious financial modelling.

7. The urgency for action – and the window to seize

There has perhaps never been a more critical moment for Sri Lanka. The 2026 Budget sends a powerful signal – that the government is serious about structural transformation. But signals are only as good as what follows. The window to convert budget ambition into real, on-the-ground green energy plants, flourishing farms, and modern infrastructure is open, but it will not stay open for long.

8. Call to action: What we urge the Government and stakeholders to do

To translate the promise of the 2026 Budget into real transformation, we urge:

1. Form a Green Infrastructure Task Force – bring together Ministries (Power, Agriculture, Finance), DFIs, NWG, private sector to design and prioritise a ‘green-agripipeline.’

2. Fast-track PPP and Investment Legislation – ensure the PPP Act and Investment Protection Act are passed, with clear procurement rules and investor protection.

3. Establish a Public-Private Delivery Unit in government to coordinate flagship projects (e.g., agrivoltaics, irrigation).

4. Launch a Transparent Monitoring Dashboard – publicly track commitments, disbursements, and impact.

5. Set up a Blended Finance Platform – NWG partners with DFIs and private capital to pool blended funds for green-agri projects.

6. Hold Regular Stakeholder Dialogues – bring together farmers, communities, private sector, civil society to monitor progress and adapt as needed.

10. Conclusion

The 2026 Budget offers a rare and promising blueprint. It signals alignment – between ambition and pragmatism, between green goals and economic growth, between state-led priorities and private capital. But ambition without delivery is simply aspiration. The burden now falls on all of us – government, private sector, financiers, civil society – to step up, execute, and hold each other accountable. Let us not let this moment slip. Let us build.

Tourism is one of Sri Lanka’s most inclusive sectors, creating opportunities for youth and women across the country. The Sri Lanka Institute of Tourism and Hotel Management (SLITHM), in partnership with the Asian Development Bank (ADB), concluded a series of youth tourism awareness programs for young people aged 18-28 in Jaffna, Kilinochchi, and Mannar.

The closing ceremony was held on 13 November at NorthGate Hotel, Jaffna, with the Governor of the Northern Province, Nagalingam Vethanayahan, attending the event as the Chief Guest.

The program combined classroom learning with hands-on training across key hotel departments, giving participants practical exposure to real career opportunities in the tourism sector. It also included sessions on personal development, sustainability, and employability skills such as CV writing and interview preparation.

Launched in line with the Government’s priority to promote tourism in the Northern and Eastern Provinces, the initiative aimed to raise awareness among young people about opportunities in tourism and hospitality, strengthen their employability, and support the long-term development of the Northern Province as a competitive tourism destination.

Over 220 applications were received, from which 80 participants were selected for a two-day practical training experience conducted at Jetwing Jaffna, FOX Resorts Jaffna, and Palmyrah House Mannar. Participants gained first-hand experience in hotel operations across the front office, housekeeping, food and beverage, and kitchen departments.

A significant highlight of the initiative was the strong participation and enthusiasm of young women across the three districts. Female hospitality professionals from the partner hotels engaged directly with the participants, sharing their career journeys and addressing cultural misconceptions surrounding hospitality careers. Many young women noted that seeing women who have succeeded in the field helped them view tourism as a respected, skilled, and empowering career path.

The 80 participants who completed the program, along with their parents, were invited to the closing event, where certificates of participation were distributed.

To coincide with Lonely Planet’s recent recognition of Jaffna as one of the Best Cities to Visit in 2026, a special panel discussion titled ‘Rediscovering Northern Sri Lanka: Building a New Tourism Identity’ was also organised.

The panel featured SLITHM Chairman Dheera Hettiarachchi; ADB Country Director Takafumi Kadono; Jetwing Hotels Managing Director Dmitri Cooray; and Co-founder of Nandhi Collective Yashodha Sivakumaran. The discussion was moderated by ADB TA Program Coordinator and Consultant Dewni Aluthwatte.

The thought-provoking discussion focused on how the recent international spotlight on Jaffna could be leveraged to promote tourism and establish a distinctive Northern tourism brand. All panellists agreed that the region’s culture, traditions, cuisine, and laid-back lifestyle should be key elements of its identity.

Panelist Sivakumaran noted that the North’s underdevelopment and untouched, raw environment could itself be a unique selling proposition. Responding to a question on youth awareness and reluctance to join the industry, Hettiarachchi shared SLITHM’s plans to expand tourism education and training in the North, while Cooray highlighted Jetwing’s experiences as one of the first hotel groups to invest in the region.

When asked about ADB’s role in supporting long-term tourism development, Kadono emphasised that tourism will increasingly be integrated into ADB’s future mainstream funding portfolio, as the sector cuts across multiple areas of development.

All panellists underscored that sustainable development in the North must be a collaborative process involving both the public and private sectors. One key suggestion that emerged was to establish a special chamber in the North to guide future tourism strategy.

The event also featured an overview of the youth awareness program by ADB Senior Project Officer (Urban Development) Panchali Ellapola followed by a short video presentation highlighting activities from the three districts. Remarks were then delivered by the SLITHM Chairman, the ADB Country Director, the CEO of FOX Resorts, and the Governor of the Northern Province, Nagalingam Vethanayahan, who commended the initiative for empowering young people and opening new avenues for economic participation in the region.

The event concluded with a vote of thanks by ADB Program Manager and Consultant, Srilal Miththapala. A fellowship followed, with the ADB Country Director engaging warmly with the students and their parents.

The program forms part of ADB’s ongoing technical assistance for Sri Lanka’s tourism sector under TA 9881: Supporting Tourism Resilience, which focuses on strengthening workforce skills, improving service quality among homestay operators, promoting untapped tourism segments such as marine tourism, and supporting regional tourism growth through partnerships with Government and private sector stakeholders.

Sysco LABS delivered an exceptional performance at the Mercantile Tennis Tournament 2025, securing 5th place out of 35 companies-a significant climb from last year’s 24th-place ranking and the highest among IT sector participants. Key victories included Damsarani Vitharana winning the Women’s Singles Green Ball Championship, Kishokanth Kumar winning the Men’s Singles Green Ball Championship, Chanuk Algama finishing Runner-up in the Men’s 35+ Singles, and Sandali Thiserra reaching the Women’s Singles Green Ball Semi-finals. Here the Sysco LABS Tennis Team who participated in the Mercantile Tournament 2025.

Opposition Leader Sajith Premadasa yesterday unveiled a comprehensive national roadmap to transform Sri Lanka into a $ 25-30 billion digital economy by 2030, stressing that the country must urgently modernise its digital infrastructure, strengthen governance, and create high-value employment for its youth.

Speaking in Parliament, Sajith Premadasa said Sri Lanka has the potential to become a regional technology hub if it invests decisively in telecommunications upgrades, data centres, cloud infrastructure, artificial intelligence education and large-scale IT talent development.

He emphasised the need to expand 5G nationwide, incentivise fibre connectivity, partner with global cloud providers and establish tech investment zones across all 25 districts.

He called for a fully digitalised public service, including a national digital identity, digital signatures, inter-agency data platforms and 100% online access to government services such as licences, land registry work, court filings and permits.

Digital payment adoption, interoperable QR systems and fintech innovation were highlighted as essential to building a cashless economy and reducing corruption.

Sajith Premadasa also proposed establishing a national start-up fund, promoting AI, fintech, agri-tech and health-tech ventures, offering tech visas to global experts, and boosting IT-BPM exports from $ 1.8 billion to $ 10 billion by 2030.

He underscored the importance of digitalising traditional sectors like agriculture, tourism and fisheries, improving cybersecurity, updating outdated laws and expanding digital literacy nationwide.

Sajith Premadasa said the SJB stands ready to lead Sri Lanka into a modern digital era, adding, ‘It’s time to walk the talk and make our digital dream a reality.

As someone who was on the Nugegoda stage with his wife ten years ago on 18 February 2015, and as the guy who read out Mahinda Rajapaksa’s message to the nation from the Nugegoda platform, and indeed as the person who initiated and convened the process of Opposition political discussion after Mahinda’s 2015 defeat that resulted in the decision to hold the Nugegoda rally (a decision taken, as chronicled by Dr. Nalaka Godahewa, over a working dinner at the house of a well-educated, exceedingly smart and highly successful young businessman), I think I am qualified to express an informed opinion about the success and impact of the 21 November event 10 years later, which I didn’t attend but watched keenly on TV and social media.

Adjusted for dreadful weather and obstructionism by the authorities, I have little hesitation in saying that the 21 November 2025 Nugegoda event was every bit as successful as the 18 February event at the same venue a decade before. I’d go further: last week’s Nugegoda manifestation is almost certain to be politically more successful and therefore, historically more significant.

Namal’s breakout moment

The weather was freakish. After the rain, at nightfall the lightning kept flashing for hours. For those even vaguely familiar with theatre and literature from the Greeks to Shakespeare and Emily Bronte, or simply to superhero flicks on TV, lightning-filled stormy weather is symbolic, portentous.

On 21 November 2025 at Nugegoda, the weather was both backdrop and symbol. The backdrop was a portal for the emergence of a new player, probably a game-changer: the eruption of Namal Rajapaksa into the political game as a second, ‘shadow’ or parallel Opposition leader and contender for the Presidency in 2029. He may have to settle for less, such as the PM’s slot or even Opposition leadership, but that was just not the vibe at Nugegoda.

Many things dictate the outcome of an election, such as what’s happening at that time, the ‘swing vote’ etc. Elections are complex, but one thing remains simple, basic. The essence of an election is that it is a popularity contest. To win, you have to have the widest popular appeal; the greatest hold on the public imagination.

Nugegoda showcased Namal Rajapaksa’s indisputable chemistry with the people. He was given a rock star’s welcome when he was caught in the crowd as he emerged from the roof of his vehicle, vaulting nimbly onto the stage. He had smartly twinned the traditional white long-sleeved top with denims and shoes: a hybrid ‘look’ denoting both continuity and generational change. Perhaps most telling was the spontaneous surge of young people-mainly young men and teenagers-onto the platform together with Namal, packing themselves into the frame of whatever footage and photographs that were being taken. The Sinhala rap songs at the close and in post-event videos that streamed out, announced a ‘People’s Prince’.

The weather prevented Namal from making the full speech he would’ve planned to. He had to select, and what you heard was his core message.

Firstly, Namal Rajapaksa stepped through the Nugegoda ‘portal’ as a leader; a leader of a wing of the Opposition, but a leader aspiring to the highest national office and destiny. He tossed his hat in the ring.

Secondly, he was explicit that he saw himself as the counter, the active alternative, even the real alternative to President Anura Kumara Dissanayake.

Thirdly, he challenged Anura frontally. Sounding like a young Muhammad Ali, he announced that he was coming for AKD and his rule of broken promises through a pro-people struggle, a ‘janathavaadee aragalaya’.

When he stayed behind at Temple Trees until his father Mahinda and everyone else had finally been evacuated after a Molotov cocktail throwing inner-city mob had besieged and broken in with terrifying, disgraceful intent to lynch war-winning ex-President MR; and when he decided to take the plunge and enter the 2024 Presidential race after Dhammika Perera bailed-out at the last moment, Namal has shown himself resolute, with real courage to take real risks.

Last week’s Nugegoda gathering showed he had the courage to risk taking the political initiative.

A leader is a fighter. Someone who can and will lead his/her collective, his/her side in battle defending the cause or country against the enemy. Namal Rajapaksa is a fearless fighter, as was his father Mahinda –and Sajith’s father Ranasinghe Premadasa. If anyone was looking for who had the personality-the combination of daring and appeal, guts and smarts-to take on President Anura Kumara Dissanayake and his JVP-NPP machine, the rainy November day in Nugegoda revealed it was Namal Rajapaksa.

In a salute to the young Marx whose doctoral thesis was on the subject, the philosopher Louis Althusser returned in his last days to the Greek (and Roman) ‘Atomists’. Following the Atomists’ stunningly prophetic scientific discernment that the universe consisted of atoms falling in a ceaseless rain, but which would suddenly, randomly swerve, thereby making for change, creation-this swerve, permitting rupture and leaps, distinguished it from the ancient Indian ‘Atomists’- Althusser concluded that the crucial thing in politics was to be able to make the atoms swerve or position oneself when and where they would/did.

Ranil and Anura showed in 2022 and 2023-2024 respectively that they were there, when and where the atoms swerved. Sajith could’ve been but wasn’t. At Nugegoda, and with Nugegoda, Namal Rajapaksa showed he could make the political atoms swerve from their usual ceaseless rain.

With ‘Genocide Day’ resolutions and Tiger flags in Western cities, and a President who is dismantling our hard-won defences, retrenching the military from our border provinces, establishing a so-called Independent Public Prosecutors’ Office, making vital economic sectors dependent on Tamil Nadu and granting strategic areas to those who adhere deeply to the Ramayana and regard Lanka as the island of the ‘demon’ Ravana, we shall once again need a fearless young fighter from the South, this time the son of a great patriotic leader, to defend us.

However, knowing what the JVP cruelly did to Vijaya Kumaratunga in February 1988 for far smaller stakes-the Chief Ministership of the Western Provincial Council-Namal must know he’s taking on a ruthless, conscienceless party in power, ‘hard-wired’ for untrammelled political evil. Of course, the blowback from that atrocity was such that 21 months after the much-loved Vijaya’s murder, the JVP was almost exterminated.

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Nugegoda backstory and MR

The 2015 Mahinda comeback campaign failed because it was not completely independent of the SLFP. Intended to make Mahinda the PM at the August 2015 General Election, it failed because a Mayor (Dehiwala-Mt. Lavinia, I think) in the Mahinda camp declared at a public meeting that when Mahinda won, the masses would pressurise President Sirisena-‘even descending through the roof’-to hand power over to MR. I was a speaker on that stage and recall Mahinda’s expression bearing the same shock and dismay I felt inside. President Sirisena reacted by addressing the nation and declaring he would not appoint Mahinda as PM, whatever the number of votes he polled. That ensured Mahinda’s defeat.

The second defeat of the Mahinda comeback that originated with Nugegoda 2015, was the ’52-days’ experiment in late-2018. I had phoned President Sirisena and Prime Minister Mahinda Rajapaksa from Moscow, and warned them not to petition the Supreme Court because the 19th Amendment was clear-cut. I suggested a non-binding referendum instead, which if won, would give national legitimacy to the induction of MR as PM and the holding of a snap General Election, and be taken cognisance of by the SC. Unfortunately, certain Opposition politicians including one of MR’s siblings were pressing for the Supreme Court option.

Mahinda’s siblings failed to mobilise parliamentary numbers or the masses in support of him as the newly reappointed PM. There was no gigantic public gathering such as the 2017 Galle Face May Day. Hostile to a Mahinda-Maithripala rapprochement, MR’s two most influential siblings left him dangling in the wind during the ’52 days’-with only his son Namal and old comrade Vasudeva Nanayakkara loyally doing their best.

The third defeat of the Mahinda comeback launched at the Nugegoda rally 10 years ago, was after Gotabaya Rajapaksa became President and passed a version of the 20th Amendment that removed almost all power from the PM – ‘Mahinda Aiya’-and re-centralised it in the Presidency. This made possible the fertiliser lunacy, triggering the peasantry’s anti-GR surge and lighting the Aragalaya fuse.

These in-house betrayals may have broken Mahinda’s heart and health, but now, with the reawakening at Nugegoda a decade later, he can be glad. Namal is not dependent on anyone as a proxy as MR was, due to the imposition of an absolute (not merely non-consecutive) two-term limit. Mahinda’s comeback never really came to fruition after Nugegoda 2015, not even in 2019-2020, but Namal’s Nugegoda 2025 moment is a new beginning which provides continuity.

In Parliament, Sajith sounded the alert about a ‘Police State’. An LSE product, he should surely know that history provides no example of defeating such an autocratic project other than through the broadest bloc of the most diverse democratic forces. The dictatorial danger is never overcome by a single party. If Sajith believes there is an AKD-JVP effort to create a Police State-and I think he’s right-then he should have been at Nugegoda, leading the democratic Resistance

Sajith’s blunder: Bifurcated, bipolar Opposition

Sajith’s absence and abdication on 21 November 2025 produced two results:

(I) The mainstream Opposition is now split; bifurcated.

(II) The Opposition is now also bi-polar, with Namal emerging as the second leadership ‘pole’ and co-leader or parallel leader of the country’s Opposition space; the alternative within the alternative.

Had Sajith attended the Nugegoda event, as Leader of the Opposition, leader of the biggest Opposition party, an excellent orator, and the largest shareholder of the crowd since Colombo is his base, he would have had a preeminent status and role. He passed up the chance. The strategic losses outweigh the ‘moral’ gains of abstinence. Absent leadership is a political oxymoron.

Sajith is the finest speaker, economic mind and overall policy expert in Parliament, bar none. Moreover, as proved by the ‘Sakvala’ and ‘Husma’ programs, he is more caring and practically helpful to the underprivileged and needy than any other Sri Lankan politician today.

Ours is a Presidential system, not the Westminster model. Bill Clinton, Barack Obama, Donald Trump and (at state and mayoral levels) AOC and Zohran Mamdani didn’t win because of speeches in the legislature. They won because of their speeches, conversations, debates in public and media (talk-shows, podcasts) spaces-their performance in the agora, as political philosopher Hannah Arendt reminds us. Sajith’s father Ranasinghe Premadasa used to drop by poor people’s homes in the inner-city and in remote villages and chat to them by name. At the John de Silva Theatre, he once burst into an impossibly fast song from the Tower Hall era (later turned by Bhathiya and Santhush into the first Sinhala rap-song).

One of Sajith’s favorite stanzas from the Buddha states it is not by birth but by one’s actions that one achieves a certain ranking, status. In 1973-1977 JR Jayewardene and

R. Premadasa led the Opposition from the front, both in Parliament and on the streets.

In his last May Day speech in 1992, President Premadasa said that if SWRD Bandaranaike had been alive he’d have been on the UNP platform on that May Day because he, Premadasa, had transformed the UNP into a party that SWRD would not have felt the need to leave. Premadasa felt that the old UNP was more at fault than SWRD had been at the time of the split, and strove for an ensemble of ideas which would have pre-empted such a split and would heal the historic schism in the democratic center that had occurred in 1951.

Yet, inexplicably, the SJB was not founded on the basis of a proven success but an abiding failure; not on the foundation of Ranasinghe Premadasa’s successful political, social and developmental doctrine and model, but on the electorally doomed Ranil Wickremesinghe UNP doctrine and model of 2001-3 and 2015-2019. The foundational flaw and folly have never been rectified or transcended.

Instead of seizing the chance to address a nationalist, center-leftist audience from Nugegoda on 21 November, Sajith and the SJB remain self-isolated in the ‘generic green’ ghetto of the 30+% range.

One publicly stated excuse for the SJB’s absence is that ‘this is not yet the correct time for the Opposition to take the path of agitation and propaganda; to take the anti-Government struggle out of Parliament into the public spaces. It is a time to seek constructive solutions’. In sharp contradistinction, R. Premadasa as Opposition MP argued brilliantly in the early 1970s that an Opposition vastly outnumbered by a Government with a two-thirds majority in Parliament, cannot be an effective counterweight and competitor on so lopsided a playing field. He advocated transforming the social character of the UNP while ventilating mounting public grievances in a campaign of mass meetings, i.e., outside Parliament. He urged the UNP to become a mass movement. UNP leader Dudley Senanayake disagreed.

For R. Premadasa, founder of the Sucharitha Movement at age16, and a member of AE Goonesinghe’s Labour Party, purely parliamentary politics was a politics of passivity, and never an option. He almost left the UNP by founding the populist Puravesi Peramuna/Citizens Front, enlisting a diverse group (ex-ambassador RSS Gunawardena, Gamini Fonseka, Sirisena Cooray, Ven. Meetiyagoda Gunaratne thero, teenager Imthiaz Bakeer Markar) and launching a series of packed open-air gatherings including at Colombo’s Hyde Park. With Dudley Senanayake’s death R. Premadasa returned fully into the UNP fold at JR Jayewardene’s invitation, deactivating the Citizens’ Front after agreeing to reconfigure and reorient the UNP onto his recommended lines. The re-engineered UNP initiated a series of Gandhian ‘Satyagrahas’ from 1973.

SJB spokespersons argue on TV that ‘this is not the time’ to take on the Government frontally because ‘we have a few more things to get done by this Government on the economic front, which they would oppose if in Opposition’. This economic excuse, originating with Dr Harsha de Silva, is exactly what the SJB trotted out when Ranil was Prime Minister and President-enabling Anura and the JVP-NPP to outflank the SJB and win. Logically it also damages the SJB’s claim to be the alternative to Anura and the JVP-NPP.

Harsha’s ‘continuity of congruent economic ideology’ argument is the exact opposite of the history of the UNP in Opposition in 1973-1977. The UNP escalated the confrontation with the Sirimavo Government after the Left had been evicted from the ruling coalition and substituted by Felix Dias Bandaranaike who represented the SLFP’s economic right-wing. The UNP and LSSP jointly dubbed him ‘Satan’! JR and Premadasa never confused politics, especially Opposition politics, with economic ideology.

In Parliament, Sajith sounded the alert about a ‘Police State’. An LSE product, he should surely know that history provides no example of defeating such an autocratic project other than through the broadest bloc of the most diverse democratic forces. The dictatorial danger is never overcome by a single party. If Sajith believes there is an AKD-JVP effort to create a Police State-and I think he’s right-then he should have been at Nugegoda, leading the democratic Resistance.

The most electable SJB figure nationally, if Sajith seriously still aspires to the Presidency instead of the more accessible Prime Ministership, he must emulate his dynamic populist father, starting now.

President Anura Kumara Dissanayake will attend the Sri Lanka Economic and Investment Summit 2025 on 2 December, during which he will join The Ceylon Chamber of Commerce Vice Chairperson Bingumal Thewarathanthri for an on-stage conversation aligned with the Summit’s theme – ‘Gateway to Growth – Asia’s Emerging Opportunity.’

The conversation is expected to give participants a clearer sense of how the Government views the next phase of economic rebuilding, the pressures shaping policy choices, and the path the country hopes to take to restore confidence.

It offers businesses and investors the opportunity to hear the President explain the thinking behind policy choices at a moment when investors are looking for clear signals and predictability.

Conceptualised as a Fireside Chat, dialogues such as this play an important role because Sri Lanka’s recovery depends on rebuilding trust.

The dialogue aims to offer a window into how the country intends to move forward on investment, trade, and overall economic revival. Bringing Government leaders, international delegates, and the private sector into the same room helps close the gap between policy intention and what businesses experience on the ground.

The Sri Lanka Economic and Investment Summit 2025, organised by The Ceylon Chamber of Commerce, will take place on 2-3 December at Shangri-La Hotel Colombo. This year’s edition has already drawn more than 850 participants and over 100 international delegates, a turnout that reflects growing interest in Sri Lanka’s direction.