Galle’s cricketing icon Warnaweera dies at 64

Former Sri Lanka Test cricketer and former curator of the Galle International Cricket Stadium Jayananda Warnaweera died at the age of 64 yesterday.

Warnaweera was a stalwart of cricket in Galle where he first dominated as a bowler and after retirement as the curator of the famous Galle International Cricket Stadium which he treated as his second home. It was Warnaweera who introduced the covering of the entire cricket ground during bad weather for international matches during his tenure as curator. He was very supportive of the national players and was always ready to oblige them with whatever assistance they sought from him regarding pitches, weather conditions etc. Under his supervision the Galle wicket turned out to be spinners paradise and Sri Lanka became unbeatable at home.

Warnaweera bowled right-arm medium-pace and then reverted to bowling off-breaks which at times raised doubts about his action, but nevertheless he went onto play in 10 Tests between 1986 and 1994 taking 32 wickets at an average of 31.90 and in 6 ODIs. He played a significant role in Sri Lanka’s series wins at home against New Zealand in 1992 and England in 1993 taking 9 wickets (avg. 23.22) and 8 wickets (avg. 23.50) respectively. He was a prolific wicket-taker for Galle CC in the domestic circuit especially in 1990 when he was the leading wicket-taker with 71 (avg 13.47) – 28 more than any other bowler in the Lakspray Trophy tournament. He also achieved his career best bowling in first-class cricket the same season with a match bag of 13/147 against BRC and an innings best of 7/16 against Air Force. He also served as a member of the interim committee headed by Sidath Wettimuny.

His term as chief curator at Galle ended in November 2015 when he was first suspended by Sri Lanka Cricket and subsequently by the ICC for failing to co-operate with the Anti-Corruption Unit. Since then Warnaweera has resided at Katugastota. He is survived by his wife and son. The funeral is expected to take place on Saturday at the Mahaiyawa General Cemetery. (ST)

Over 300,000 driver’s licences to be issued within three months

The Parliament Secretariat yesterday said that more than 300,000 pending driver’s licences are expected to be printed and distributed within the next three months, according to officials of the Transport, Highways, Ports and Civil Aviation Ministry.

Briefing the Ministerial Consultative Committee on Transport, Highways, Ports and Civil Aviation, officials said all arrangements have been made to expedite printing and issuance, while a new driver’s licence featuring enhanced security features will also be introduced later this year. The Ministry has completed the procurement process for 1 million cards required for printing.

The Committee, chaired by Transport, Highways, Ports and Civil Aviation Minister Bimal Rathnayake, met on 9 October in Parliament. The Minister instructed officials to install printing machines in every province to accelerate the licence issuance process.

Responding to questions on vehicle number plates, officials said that supplier selection is underway and that the process will be completed following Cabinet approval.

The Committee also reviewed the integrated passenger transport timetable now in use. The Minister noted that as it is a policy initiative, the Government will identify shortcomings and expand it to more regions to improve efficiency.

In addition, the Committee discussed a pilot project aimed at reducing elephant-train collisions. It was revealed that Rs. 2.8 million has been allocated to install long-range surveillance cameras on trains operating on the Batticaloa line to monitor and prevent such accidents.

The meeting also included discussions on transport-related issues raised by MPs and potential solutions to address them.

Indrajith Boyagoda new Chairman at AMW Capital Leasing

AMW Capital Leasing and Finance PLC has appointed Indrajith Boyagoda as its new Chairman.

Boyagoda is the former Executive Vice President of Treasury and Investment Banking at Nations Trust Bank PLC with more than 30 years of experience in the Financial Services industry, having worked at Citibank Sri Lanka, Samba Financial Group (Samba) in Saudi Arabia (an ex-subsidiary of Citigroup), and Nations Trust Bank in Sri Lanka, holding senior and corporate management positions.

His work exposure spans Treasury, Capital Markets, Corporate Relationship Management, and Banking Operations in various geographies, coupled with highly automated Operations support environments.

This included working in partnership with businesses to provide value-added oversight to country and regional business heads, as well as direct clients.

Boyagoda was appointed to the Board of AMW Capital Leasing and Finance PLC (AMWCL) as an Independent Non-Executive Director on 27 June 2024 and subsequently appointed as the Senior Director of AMWCL effective from 23 November 2024.

He currently, serves as the Secretary General of Sri Lanka Banks’ Association Ltd., and represents SLBA on the Director Boards of LankaPay Ltd., and Lanka Financial Services Bureau Ltd.

He holds an MA (Econ) and a Post Graduate Diploma (Development Economics) from the University of Colombo, and a B.Sc. (Chemistry Hons.) from the University of Peradeniya, Sri Lanka.

Regional counterparts reaffirm shared commitment to advancing digital health

Aligned with the 78th session of WHO South-East Asia Regional Committee Meeting held in Colombo from 13-15 October, Sri Lanka and India jointly hosted an event under the theme, ‘Developing a digital health ecosystem for integrated person-centred care: Lessons from implementing Digital Health Blueprints in the region’, where best practices from the region to forge a digital health ecosystem were shared by experts.

Developing a digital health ecosystem for patient-centered care is both timely and deeply relevant to building equitable, efficient and resilient health systems within the country and across the region, remarked the Health Minister Dr. Nalinda Jayatissa at the event co-hosted by Sri Lanka and India on ‘Developing a digital health ecosystem for integrated person-centred care: Lessons from implementing Digital Health Blueprints in the region’. The event which took place last Tuesday was on the sidelines of the 78th session of WHO South-East Asia Regional Committee Meeting, held in Colombo from 13-15 October.

Remarking that Sri Lanka has always placed the health of its people at the heart of national development, Health Minister in his opening remarks underscored that good health is not a privilege but a fundamental right of all people. ‘Today, the world we live in is changing rapidly. We are facing complex health challenges, from the growing burden of non-communicable diseases to the pressure of aging populations, climate change, and economic hardship. To meet these challenges, we must strengthen our health systems not just through more funding or more hospitals, but through smarter, more connected, and more people-centered care,’ observed Dr. Jayatissa who went onto note that, in a bid to reach this goal, Sri Lanka has already made significant progress in its journey towards digital transformation in health. Digitising of 135 hospitals across the country, integrating multiple public health programs and establishing a national drug information system were cited by the minister as examples.

Sri Lanka’s Digital Health Blueprint, developed with support from WHO, is a national strategy for modernising the healthcare system through digital technologies. The blueprint which was endorsed in 2023, focuses on creating an interconnected and interoperable digital health ecosystem, with a National Electronic Health Record (NeHR) as a central component to streamline services and manage resources effectively. The project aims to improve data-driven decision-making and healthcare efficiency in the country. Among its other salient features are Digital Health Architecture which provides a roadmap for the systematic adoption and integration of digital technologies in healthcare and Planning and Management Information System (PMIS) to enhance healthcare planning, resource allocation, and performance monitoring. The blueprint also envisages streamlined processes with the objective of overcoming limitations of manual systems, making data management and decision-making more efficient. International partner support for the country’s digital health activities is also provided by multiple agencies including UNICEF, UNOPS, The Global Fund, German Government, ADB and the World Bank.

Remarking that the country is now at the operationalisation phase with a clear vision of developing a single, shared digital health record for every individual, a record that ensures continuity of care, informed decision-making, and better health outcomes, Dr. Jayatissa further said that the digital transformation fully aligns with the Government’s broader efforts to digitalise public services, thereby enhancing transparency, accessibility, and convenience for people. ‘Our primary healthcare reforms will also leverage these digital capabilities to strengthen preventive, promotive, and community-based care. The benefits are efficient decision-making, reduced wastage, improved patient experience, and higher quality of care.’

The digital transformation of health, however, comes with numerous challenges which need to be addressed, said the Minister who alluded to the limited number of IT professionals within the Health Ministry and the complexity of the health system which calls for continued investment in capacity building, workforce development, and system interoperability. ‘Moreover, we must never underestimate the importance of data security, privacy, and patient safety as we advance this digital agenda,’ he said further.

Reiterating the importance of regional collaboration for a better outcome, Health Minister also acknowledged the lessons that could be learnt from digitally matured regional counterparts such as India and Thailand whose experiences can guide and inspire other member states in the shared pursuit of digital health transformation. ‘The health challenges India and Sri Lanka are facing are almost common and I am confident that the deliberations of this conference will further strengthen our regional solidarity and accelerate progress towards a digitally empowered, patient-centred health system for all.’

Remarking that India stands ready to share its learning platforms and partner with the global community, India’s Minister of State for Health and Family Welfare, Anupriya Singh Patel highlighted India’s digital health transformation through the Ayushman Bharat Digital Mission (ABDM). ‘We believe that digital public infrastructure is the cornerstone of a resilient, inclusive, and future-ready health system. And at the heart of our digital transformation lies the Ayushman Bharat Digital Mission which is a federated, standard-based digital health architecture that is revolutionising healthcare delivery across India.’ Launched in 2020, ABDM is a digital public infrastructure which connects citizens, health providers, and systems through a secure and interoperable ecosystem. Noting that India’s digital health journey is not just a technical evolution but also a story of inclusion, Minister Patel reminded that it ensures that healthcare follows the patient and not the other way around. ‘It imbeds equity, amplifies efficiency, and redefines the citizen’s role from a passive recipient to an active, empowered owner of their health data. Today, healthcare in India is connected, comprehensive, and centred around the needs of every citizen.’

Two keynote presentations on ‘Advancing Digital Health Blueprints in the Region’ were also made at the event. Director – Health Information Dr. Palitha Karunapema made his presentation on ‘Sri Lanka’s Digital Health Blueprint in Action: Advancing Towards One Citizen, One Health Record’. India’s ABDM’s Joint Secretary and Mission Director, Kiran Gopal Vaska provided insights into India’s DP approach to building a digital health ecosystem, drawing from ABDM’s experience.

A panel discussion on ‘Building an integrated and Sustainable Digital Health Ecosystem’ was also held with the participation of several key regional representatives from the WHO-SEARO, UNOPS, Global Fund, Maldivian Health Ministry, Indian Health and Family Welfare Ministry and the local Health Ministry. The session was moderated by Specialist in Health Informatics Dr. Chaminda Weerabaddana.

Healy’s masterful century guides Australia past Bangladesh into semi-finals

ICC Women’s Cricket World Cup

Alyssa Healy’s masterful century led Australia to a 10-wicket win over Bangladesh at Visakhapatnam yesterday, which sealed the reigning champions’ place in the knockout stages of the ICC Women’s Cricket World Cup.

Australia’s Captain made it back-to-back World Cup hundreds with an unbeaten 113 (off 77 balls, 20 fours) as she and Phoebe Litchfield, who made an unbeaten 84 (off 72 balls, 12 fours, 1 six), chased down the target of 199 in just 24.5 overs.

Healy and Litchfield’s exploits saw Australia retake the top spot in the group stage table and also break the record for the highest successful ICC Women’s Cricket World Cup chase without losing a wicket.

A collective bowling effort from the seven-time champions, led by Player of the Match Alana King (2/18), had earlier restricted Bangladesh to 198, who found themselves 165-9 having slipped from 127-4.

Fargana Hoque got Bangladesh’s innings off to a good start after they won the toss and chose to bat, as the openers put on 32 for the first wicket.

Megan Schutt (1/11) and Darcie Brown bowled well and saw the ball regularly fly through the slip cordon with Rubya Haider dropped on 22 by Litchfield. She was dropped again the very next ball – this time by Healy – but kicked on after that with back-to-back fours at Annabel Sutherland’s expense in the 16th over, taking her to 40 and the score to 67-1. But the 28-year-old fell on 44 shortly after as she could only find Tahlia McGrath at mid-on.

From there, the Australian bowlers turned the screws. Resistance came in the form of Sobhana Mostary, who played brilliantly for her unbeaten 66 off 80 balls (9 fours). However, Australia’s opening batters made light work of their chase.

Scores:

Bangladesh Women 198-9 (50) (Sobhana Mostary 66*, Rubya Haider 44, Ashley Leigh 2/48, Annabel Sutherland 2/41, Alana King 2/18, Georgia Wareham 2/22)

Australia Women 202-0 (24.5) (Alyssa Healy 113*, Phoebe Litchfield 84*)

Havelock City Mall celebrates two years

Havelock City Mall celebrates its second anniversary this October under the theme ‘Two Years of Smiles, Happiness, and Shared Joy’. Since opening its doors in 2023, the mall has evolved into a vibrant hub for fashion, dining, and entertainment, living up to its promise of being My Happy Place.

The anniversary celebrations will begin with a Tenant Awards Ceremony recognizing top- performing retail partners, and a Mall Staff Awards Ceremony honouring the outstanding contributions of Havelock City Mall employees.

Festivities will take place on 18 and 19 October, featuring discounts of up to 30% from leading brands, an International Food Fiesta, live music and entertainment. In parallel with the second anniversary celebrations, an exclusive loyalty card will also be introduced for Havelock City Apartments residents, offering them special privileges and benefits at Havelock City Mall.

‘As we celebrate this milestone, I extend heartfelt gratitude to our shoppers, retail partners, and vendors for their unwavering support,’ said Overseas Realty (Ceylon) PLC CEO Pravir Samarasinghe. ‘Together, we have made Havelock City Mall Colombo’s most cherished and joyful destination, truly My Happy Place.’

Spanning over 200,000 square feet across six levels, Havelock City Mall features a curated mix of local and international brands, with more than 130 outlets across fashion, electronics, homeware, health and beauty, dining, cafés, cinema, and family entertainment zones. Since its opening, the mall has set new benchmarks in urban retail and leisure, redefining Colombo’s shopping and entertainment landscape for Sri Lanka’s cosmopolitan community.

Over the past two years, Havelock City Mall has introduced several industry firsts, curating a diverse range of experiences that have redefined the mall environment in Sri Lanka. These include large-scale signature events such as the Elite Auto Show, CarniWOW family carnival, Checkmate blitz chess tournament and ‘Warna’ – the art festival that brought together leading artists and collectors. Each of these milestones has reinforced Havelock City Mall’s position as Colombo’s most happening and experiential retail destination.

Havelock City Mall continues to elevate the retail experience in Sri Lanka with the country’s first and only large-format IMAX theatre and immersive family entertainment zones, including the Wet and Wild Adventure Zone, Jungle Zone, Ocean Zone, a state-of-the-art AR/VR gaming arcade and also an outdoor dining space

called Cheers Garden which brings live

performances and interactive attractions that transform the mall into a dynamic social hub, encouraging longer visits and fostering lasting emotional connections with visitors.

Inland Revenue surpasses nine-month tax collection target

The Inland Revenue Department has exceeded its tax revenue target for the first nine months of 2025, collecting 102% of the estimate, according to data presented to the Parliamentary Committee on Ways and Means.

Officials said the department collected Rs. 1.64 trillion by the end of September, against an expected Rs. 1.61 trillion, reaching 75% of its full-year goal of Rs. 2.19 trillion.

The figures were reviewed during a recent committee session chaired by MP Wijesiri Basnayake.

Attention was also drawn to the plans and challenges for increasing tax revenue, including digitalisation, and tax management. Accordingly, the Committee Chairman informed the officers to provide the Committee with proposals related to the reforms expected from the Inland Revenue Department, the Parliament Secretariat said in a statement yesterday.

Inland Revenue Commissioner General R.P.H. Fernando and senior officials attended the meeting, where members proposed further reforms to strengthen tax administration and improve efficiency.

A breath of Kandy on the road

Every morning, I watch Kandy wake up – and cough. The horns, the fumes, the endless line of vehicles crawling through our small city. As someone who has lived here all my life, I no longer remember what clean air smells like. I’ve sat countless times behind a bus blocking an entire lane, waiting while it collects passengers in the middle of the road, only to be rewarded with a thick black cloud of exhaust when it finally moves.

Kandy is beautiful. But beneath that beauty, it’s suffocating – literally.

Sri Lanka’s air pollution problem – Ground zero: Kandy

My field survey of 100 people showed what we all already know: 95% believe that vehicle emissions are the main cause of Kandy’s air pollution. More than half said the problem is serious; nearly one-third said it’s extremely severe. Over 60% said they suffer from breathing problems that they link directly to the air they breathe here.

That’s not surprising. The narrow roads of our hill city were never built for the 100,000+ vehicles that now flood in every day. According to Prof. Ileperuma, who has studied air quality in Kandy for decades, our city’s air is often worse than Colombo’s – trapped by the surrounding mountains and poisoned by rising vehicle numbers and daily congestion.

And it’s not just theory. During my observations, for the research and just by living here and going to school here, I saw broken pavements near major schools, forcing students to walk on the road. I, too, have been one of them. I remember having to walk along the road to avoid falling into pits nearly five feet deep, where concrete slabs had collapsed over open drains. I became one more body clogging traffic because the sidewalk – meant for me – was impassable.

The law is there – but who’s enforcing it?

Sri Lanka is not without laws. The National Environmental Act No. 47 of 1980 gives the Central Environmental Authority (CEA) the power to control pollution and advise the central government and local authorities. Under sections 10 and 12, the CEA can investigate environmental harm and take corrective action. Vehicle emission standards – in force since 2003 – make it illegal for vehicles to operate beyond permitted emission levels.

And yet, what do we see? Buses and lorries belching smoke every day, unchecked. Emission tests that exist on paper, but not in practice. A 2017 National Audit Office report confirmed what citizens have long known: vehicle exhaust is the major contributor to air pollution in cities, and enforcement is grossly inadequate. Though that’s there, I still get a mouthful of soot from the Mahakanda/Delthota buses that pass my University in little to no traffic.

The Sri Lankan Constitution itself, under Article 27(14), commits the State to ‘protect, preserve and improve the environment for the benefit of the community.’ Under Article 28(f), we, the citizens, have a duty to protect nature and conserve its riches. But how are we to protect the environment when the very institutions meant to uphold these duties turn a blind eye?

Our international commitments – and national failures

Sri Lanka is a signatory to major international environmental instruments – including the Stockholm Declaration (1972), the Rio Declaration (1992), and the Paris Agreement (2015) – each reaffirming the right to a healthy environment. At the United Nations, we pledged to achieve the Sustainable Development Goals (SDGs).

Three of them directly apply to this crisis:

SDG 3 (Good Health and Well-being) – Target 3.9.1 aims to reduce deaths and illnesses from air pollution.

SDG 11 (Sustainable Cities and Communities) – Target 11.6.2 calls for lowering the average levels of fine particulate matter (PM2.5) in cities.

SDG 13 (Climate Action) – This goal urges countries to take urgent action to combat climate change and its impacts. Vehicle emissions are not only a local air-quality problem

Yet here in Kandy, PM2.5 levels on some mornings are three times the World Health Organization guideline. We are failing both our people and our promises.

What my research found

Through desk research, a field survey, personal observations, and an interview with Prof. Ileperuma, I identified recurring patterns:

Buses and lorries are the most polluting vehicles. (In the recent past it was the two-stroke engines of tuks and bikes)

Poor planning and lack of enforcement keep congestion chronic. The 6.4 km from Peradeniya to Kandy which only takes 10 minutes or less to travel by car at night takes more than 30 minutes during the day. Buses during rush hour traffic take well over an hour to go the same distance. As stated in the Project for Formulation of Greater Kandy Urban Plan, future demographic projections indicate a preposterous 72 minutes to travel the 4.5km distance from Gatambe to Kandy.

Broken infrastructure – sidewalks, parking, drainage, the rusty air-bridges that look like a standing tetanus shot that discourages pedestrians from using them- forces pedestrians into danger.

Weak public transport design: long-distance buses still start and end inside the city, instead of in outer terminals like Peradeniya, Katugastota, or Thannekumbura.

Through-traffic unnecessarily passes through the city instead of using bypass routes.

Although road widening projects are underway, the poorly managed construction process has actually worsened traffic congestion – with large sections of both roads from Peradeniya to Kandy being closed off simultaneously, and piles of excavated soil and rock left along the roadside further obstructing traffic flow.

The result? A cocktail of health hazards, lost productivity, and frustrated citizens. One respondent put it perfectly:

‘Every day, I lose an hour in traffic. Every breath smells like diesel.’

The impacts: What’s at stake

The impacts go far beyond inconvenience. Pollution from vehicle emissions causes respiratory diseases, asthma, heart disease, and even strokes, as Prof. Ileperuma pointed out. He also stated that young school children in Kandy have increasing levels of chronic obstructive pulmonary disease (COPD), which is a common lung disease seen in chronic smokers. Studies show that 97% of commuters believe traffic congestion seriously affects their productivity.

We’re losing time, health, and money – all because of inaction. Children inhale poisonous air on their way to school. Pedestrians risk their lives because of broken sidewalks. Businesses lose hours in gridlock. This is not just bad management – it’s an environmental injustice.

So what can we do?

We don’t need another report or committee. We need action.

Here’s what can and must be done:

Immediate steps

Repair broken sidewalks, especially near schools – before a child falls into a trench or is hit by a bus.

Crack down on visible smoke emitters – fine and blacklist buses and lorries (and everything else) that flout emission standards.

Ban long-distance buses from entering the city – start and end them at outer terminals.

Set up a hotline or mobile app for the public to report air pollution or road obstructions (over 40% of my survey respondents said they’d report if they knew how).

Medium to long-term solutions

Implement the Kandy Multimodal Transport Terminal and encourage rail or rail-bus travel (the rail-bus existed for a short period and had much potential but was aborted).

Create satellite towns in Peradeniya, Katugastota, and Thannekumbura to decongest the core.

Electrify public transport and enforce stricter inspection regimes. (But this requires adequate charging stations. One of the two easily accessed charging stations in the Peradeniya-Kandy area is powered by a generator that uses fossil fuels to operate)

Introduce parking management and one-way systems to improve traffic flow (the one-way system was introduced a decade or so back but was also snorted within a few days without expert consultation).

A final word – before we all suffocate

I’ve grown up in Kandy. I’ve seen it transform from a serene hill city into a suffocating traffic maze. Every day that passes without meaningful change is another day we poison our lungs and our future.

The right to breathe clean air isn’t a luxury – it’s a constitutional right. It’s a human right. And it’s time we demanded it.

The Central Environmental Authority, the Kandy Municipal Council, the Police, and every Government body involved must step up – not with words, but with visible, measurable action.

Because if we keep waiting, there’ll come a day when we’ll all look out over this beautiful city, see the mist, and wonder: ‘Is that the mist Kandy is famous for, or just the smog that we’ve normalised.’

Cities ready for the future

Infrastructure is often hailed as the engine of productivity and economic growth. Yet in many countries, roads crumble, railways stall, and essential services like water and electricity remain inadequate. The common excuse? A lack of funding-or the political will to raise taxes and cut spending.

But governments have two sources of revenue: taxes and non-tax income. The latter comes from managing public assets and liabilities-essentially, the government’s balance sheet. While resource-rich countries often generate income from oil, gas, or minerals, even countries without such endowments can tap into overlooked assets by managing them more professionally.

Take Singapore, for example. Despite having no natural resources, around one-fifth of its government spending is funded by non-tax revenues. These come from investment returns on public assets, generating about 7% of GDP annually-a figure nearly equal to its corporate tax receipts.

Singapore’s success stems from decades of fiscal discipline and long-term strategy. It has built one of the world’s largest sovereign wealth portfolios, despite its resource scarcity. This includes Temasek Holdings (which manages corporate assets and real estate), the Government of Singapore Investment Corporation (GIC), and the Monetary Authority of Singapore, which holds foreign reserves. Collectively, these entities manage assets valued at three to four times the country’s GDP-surpassing even the sovereign wealth funds of Norway and Saudi Arabia.

Globally, public assets are estimated to have a value three times global GDP, with half of those assets being commercial-real estate and corporate holdings. Yet, very few governments account for or manage these assets strategically. Countries like New Zealand, which adopted accrual accounting decades ago, stand out for recording and valuing all public assets and liabilities at market prices. But most governments still ignore large swaths of their asset base-particularly real estate, which alone is estimated to be worth as much as global GDP.

Much of this overlooked real estate lies around transport infrastructure-railways, ports, airports, and disused industrial sites. These areas, if redeveloped, can significantly boost public wealth and urban renewal.

Hong Kong’s MTR Corporation is a powerful case in point. Inspired by Japanese railway models, MTR built a metro system the size of New York’s without tax funding. Instead, it leveraged land development rights near stations, with property revenue making up 40% of its income annually since the 1990s. This ‘rail plus property’ model turned infrastructure into a self-funding investment.

Similarly, Hamburg and Copenhagen transformed abandoned port infrastructure into thriving urban districts-without relying on taxpayers. These cities created Urban Wealth Funds (UWFs) to manage and develop these assets professionally.

In Hamburg, the city-owned HafenCity GmbH redeveloped a 2.4 sq. km harbour area, delivering 7,000 residential units and commercial space for 35,000 people-plus schools, universities, and a landmark concert hall.

Copenhagen’s UWF, ‘By og Havn I/S’, repurposed an old harbour and a former military site. Covering twice the area of Hamburg’s project, it resulted in over 33,000 new homes, 100,000 jobs, and major infrastructure upgrades, including a metro extension, university, and new parks. All funded by the project’s own revenues.

These developments not only provide a boost to the economy and opportunities for the private sector but also increase the housing stock, promote social mobility, and improve urban liveability-key ingredients for long-term prosperity.

When governments diversify their income sources beyond taxes, they reduce fiscal risk and increase economic resilience. At a time when many are searching for ways to fund critical investments, a balance sheet approach offers a powerful solution.

Focusing on net worth-the difference between public assets and liabilities-enables, and encourages, better financial management than does relying on debt-based fiscal rules, which paint an incomplete picture of fiscal position. Without understanding the full balance sheet, governments risk underinvesting, misallocating debt, and wasting resources.

Importantly, if debt is used to fund consumption for short-term political gain, rather than productive investment, it becomes a burden on future generations. Intergenerational fairness requires that today’s borrowing builds assets that benefit tomorrow’s citizens-not just today’s voters.

By setting a net worth target, governments could shift incentives toward smarter, long-term investments in infrastructure, housing, and innovation-laying the groundwork for sustainable growth.

Ensuring sustainable prosperity requires governments to go beyond short-term fixes and look strategically at their balance sheets. Managing public assets and liabilities more effectively isn’t just about accounting-it’s one of the greatest untapped opportunities to unlock economic potential. By embracing a net worth approach, policymakers can fund infrastructure, reduce reliance on taxes, and create cities that are both liveable and future-ready.

ADB urges cybersecurity, data protection must be core of SL’s digital economy

The Asian Development Bank (ADB) yesterday urged Sri Lanka to treat cybersecurity and data protection as central pillars of its digital transformation agenda, warning that national competitiveness and public trust in digital services will depend on how well the country safeguards its information infrastructure.

ADB Sectors Department 2 Director General Cleo Kawawaki said cybersecurity is not only a policy or institutional concern but a shared responsibility that must extend across government, business, and individuals.

‘This morning, I woke up with a phishing email telling me that my app had been accessed from somewhere else and that I should press a button to fix it,’ she said at the ADB Serendipity Knowledge Program (SKOP) on Digital Transformation: Cybersecurity and Data Protection for Digital Economy Development yesterday in Colombo, in partnership with the Department of National Planning of the Finance Ministry.

‘We all know what that means. It means that if I press that, it steals all my details. Cybersecurity threatens every single one of us. All of the promises of the digital economy can be undone by one person not watching out and pressing that button,’ she added.

She said that while technology and policy are critical, awareness and behaviour across society are equally vital to building a resilient digital economy.

‘It is not just a policy issue, it is not just an institutional issue, but a whole-of-society issue,’ she said. ‘Events like this can raise awareness and help us find solutions so that the promise of digital can be delivered to the whole society without the crushing risks and breaches of trust that come from these threats.’

Kawawaki said the ADB’s SKOP is a flagship initiative supporting Sri Lanka’s evolving development priorities and advancing secure, inclusive, and interoperable digital ecosystems across the Asia-Pacific region.

‘The Government has recently launched its cybersecurity strategy and is reinforcing its institutional foundations through the implementation of the Data Protection Act and the forthcoming Cyber Security Bill,’ she said.

‘As Sri Lanka accelerates its digital transformation, enabling whole-of-Government digitalisation and expanding services to citizens, the need for a secure and trusted digital economy has become more relevant than ever.’

She warned that cyber threats and data privacy risks are growing in scale and complexity, posing significant challenges to public trust, economic resilience, and national security.

‘Without trust, digital services cannot thrive. Without security, the benefits of digitalisation risk being undermined,’ she said. ‘That is why cybersecurity and data protection must be embedded by design and by default into all of the country’s digital initiatives.’

Kawawaki said the ADB is working with the Government to strengthen the country’s cybersecurity and data protection governance frameworks and build institutional capacity to respond effectively to emerging threats.

Chief Adviser to the President on Digital Economy and Information Communication Technology Agency of Sri Lanka (ICTA) Chairman Dr. Hans Wijayasuriya told the forum that Sri Lanka will anchor its digital economy strategy on cybersecurity and data protection, viewing them not as regulatory necessities but as the foundation for innovation, competitiveness, and economic resilience.

Dr. Wijayasuriya said secure data systems and privacy frameworks will define Sri Lanka’s ability to build trust and attract investment in the digital era.

‘A good data protection and cybersecurity framework provides the platform for innovation and competitive advantage. Few countries can now compete on cost; agility and trust are the new calling cards,’ he said.

He explained that cybersecurity and privacy measures form the ‘security by design’ foundation for the Government’s plan to grow the digital economy fivefold to $ 15 billion by 2029 and triple digital exports to more than $ 5 billion.

‘We designed the Digital Economy Blueprint for Sri Lanka to be Artificial Intelligence (AI)-first and anchored on trust. Cybersecurity, privacy, and ethical AI are not optional-they are the bedrock of growth,’ he added.

Dr. Wijayasuriya noted that Sri Lanka has already made significant progress with the enactment of the Personal Data Protection Act (PDPA), the establishment of the Data Protection Authority, and the development of the National Cyber Security Centre (NSSERT). These, he said, place Sri Lanka in the upper quartile globally in terms of cyber resilience.

He urged policymakers and businesses to treat trust and data governance as strategic differentiators.

‘In today’s digital economy, our unique competitive advantage must be trust, delivered through world-class cybersecurity, privacy technologies, and governance,’ he said, adding, ‘Sri Lanka should aim to be known as the Serendip of trust, governance, and safety in the digital world.’

Industry leaders and Government officials yesterday emphasised the urgent need to build a security-first and privacy-respecting culture across Sri Lanka’s digital ecosystem, highlighting enforcement challenges, data protection gaps, and the importance of public-private partnerships at the SKOP on Digital Transformation: Cybersecurity and Data Protection for Digital Economy Development hosted by the ADB in Colombo.

During the first panel discussion, moderated by ADB Digital Technology Specialist – Cybersecurity and Data Privacy Masatake Yamamichi, participants examined the role of cybersecurity and data protection in developing Sri Lanka’s digital economy, enforcement challenges, and international cooperation. Speakers included Japanese Internal Affairs and Communications Ministry Office of the Director-General for Cybersecurity Director Yuki Naruse, Sri Lanka Computer Emergency Readiness Team (SLCERT) Chairman Thilak Pathirage, Commercial Bank of Ceylon PLC Chief Information Security Officer Sunari Dandeniya, Sysco LABS Security Architect Lasantha Priyankara, and Scybers Head of Threat Intelligence Chamath Rathnasekara.

The panellists discussed the need for greater capacity building and consistent enforcement of cybersecurity policies, while stressing that rapid digitalisation across sectors has made resilience and data protection essential to economic stability. The discussion also covered emerging cyber threats, the balance between privacy and innovation, and strengthening institutional frameworks through international collaboration.

A second panel, moderated by ADB Digital Sector Director Antonio Zaballos, focused on cultivating a ‘security-first and privacy-by-design’ mindset from schools to workplaces, including within Government institutions. Speakers included LIRNEasia Founder and Sarvodaya Chairman Prof. Rohan Samarajiva, Data Protection Authority Chairman Rajeeva Bandaranaike, and Visa Sri Lanka and Maldives Country Manager Avanthi Colombage.

The discussion underscored the importance of building trust in digital services, enhancing regulatory enforcement, and improving digital literacy across both public and private sectors. Bandaranaike highlighted that regulation must evolve alongside awareness, while Prof. Samarajiva called for consistent public policy frameworks to prevent data misuse. Colombage noted that private-sector collaboration can help improve public confidence in digital transactions and strengthen cybersecurity infrastructure.