Sri Lanka Food Processors Association elects Executive Committee for 2026/2027

The Sri Lanka Food Processors Association (SLFPA) successfully held its 28th Annual General Meeting (AGM) on 24 September at The Kingsbury Hotel, Colombo, with the participation of its members and industry stakeholders.

Established in 1997 as an advocacy group, SLFPA today represents over 162 member companies, ranging from large multinationals to small and medium-sized enterprises (SMEs), all dedicated to advancing Sri Lanka’s food and beverage processing industry.

The keynote address was delivered by UN FAO Manager of the Circular Economy in the Food Sector (CIRCULAR) Project, Sri Lanka Camelia Andria Bucatariu.

In her presentation, Bucatariu emphasised the urgent need to address food loss, food waste, and plastic packaging waste in Sri Lanka, highlighting that urban food waste alone accounts for nearly 56.6% of municipal solid waste, or about 3,963 tons per day (FAO/IWMI, 2023). She pointed out the interlinkages between food waste and plastic waste across the supply chain and stressed the importance of scaling alternatives to single-use plastics, particularly in food packaging.

She further underlined that applying circular economy practices across the agri-food value chain can reduce losses, improve resource efficiency, and create new opportunities for SMEs. Her key message was that integrating food waste and plastic waste strategies under a circular economy framework-through strong multi-stakeholder collaboration-can accelerate progress on climate action, food security, and sustainable economic growth in Sri Lanka.

Outgoing President Thusith Wijesinghe reflected on the association’s journey, recognising the contributions of the 14 past presidents who have shaped SLFPA’s growth. He also emphasised the success of the Pro Food/Pro Pack 2025 Exhibition and the Annual Cricket Carnival. In a key announcement, he revealed SLFPA’s plans to begin construction of a dedicated Secretariat and facility at Gothami Road, Borella-marking a significant milestone in the association’s long-term strategy.

At the AGM, the new Executive Committee for 2026/2027 was appointed, comprising Mr. Aruna Senanayake of C W Mackie PLC as President, Mr. Deepal De Alwis of Neochem International Ltd., as Secretary, and Sanjeewa De Silva of Unilever Sri Lanka Ltd. as Treasurer. The committee also includes Thusith Wijesinghe of Trans Continental Packaging Commodities Ltd., as Immediate Past President, Nadishan Guruge of Mead Lee Trading Co. Ltd.. as President Elect, Vasantha Chandrapala of Visvaka Marketing Ltd., as 1st Vice President, Damitha Perera of Forbes and Walker Commodity Brokers Ltd., as 2nd Vice President, and Rasika Seneviratne of Diesel and Motor Engineering PLC as 3rd Vice President. Supporting roles are held by Dineth Alahakoon of Country Style Food Ltd., as Assistant Secretary and Sameera Jayathilaka of Westmann Engineering Ltd.. as Assistant Treasurer.

In addition the following ten Executive Committee members were appointed: Nirosh Lalantha of Ceylon Cold Stores PLC, Niroshan Dalpethado of C D De Fonseka and Sons, Sheran De Alwis of MA’s Tropical Food Processing Ltd., Sanjeewa Niroshan of SGS Lanka Ltd., Amila Weerasinghe of Nestlé Lanka Ltd., Thusitha Ekanayake of Anods Cocoa Ltd., Praharshi Wickramasekara of International Commodity Traders Ltd., Vijitha Govinna of Ceylon Biscuits Ltd., Rangajeewa Hettiarachchi of Fonterra Brands Lanka Ltd., and Kushan Amarasinghe of Finagle Lanka Ltd.

SGS Lanka Ltd., Unilever Sri Lanka Ltd. and Hayleys Aventura Ltd., partnered as Gold Sponsors of the AGM, while Lanka Exhibition and Conference Services (LECS) supported the event as the Bronze Sponsor.

The proceedings concluded with a vote of thanks delivered by the Secretary Hemantha Balasuriya, followed by cocktails and a fellowship networking session, providing an opportunity for members to connect and strengthen industry ties.

CSE begins month on the up

Colombo stock market began the month extending its rally to a 12th session closing on the up yesterday on buying interest in banking stocks.

The benchmark ASPI gained 0.33% to close 72.7 points higher at 21,851.30.

The active S and P SL20 closed 12.26 points up, gaining 0.20% to 6,138.79.

Turnover was Rs. 6.46 billion on more than 225.2 million shares traded.

Foreign investors were net buyers yesterday with a net inflow of Rs. 90.7 million, compared to a net outflow of Rs. 362.2 million the previous day.

First Capital Research said amidst the volatility observed during the day, Colombo Bourse ended the session in green territory, strengthened by the positive investor sentiment towards the Banking sector.

ASPI was up by 73 points and ended the day at 21,851. Both retail and HNW participation were high, whereas more positivity was observed towards selected Diversified Financials sector counters.

MELS, HHL, DIMO, PLC and RIL were the top positive contributors to the index.

Turnover for the day stood at Rs. 6.5 billion, reflecting a decrease of 9% compared to the monthly average that stands at around Rs. 7.1 billion.

Capital Goods sector took the lead in terms of sector wise contributions to turnover, with a share of 15%, followed by the Banking sector, and Food, Beverage and Tobacco sector which produced a combined contribution of 26%.

Foreign investors turned net buyers, recording a net inflow of Rs. 90.7 million.

Bridging Generations: Protecting Both Children and Elders Through Shared Care and Responsibility

In every society, two groups need the most care and protection-children and elders. They are at opposite ends of life’s journey, yet they share similar vulnerabilities. Both depend on the love, guidance, and responsibility of families and communities. Strengthening protection for these two groups does not require separate systems; instead, it calls for an intergenerational approach where both are valued, respected, and supported together.

Shared Vulnerabilities, Shared Responsibilities

Children need protection from neglect, abuse, exploitation, and harmful influences-both online and offline. Similarly, elders often face abandonment, financial insecurity, loneliness, and emotional neglect. What is common is their dependence on others for safety, dignity, and wellbeing. Societies that care for children while ignoring elders, or vice versa, miss the bigger picture. True compassion requires creating systems where both generations feel seen and secure.

The Family as the First Shield of Protection

Families are the first line of defence for both age groups. Children rely on parents and guardians for guidance, affection, education, and safety. Elders rely on family members for emotional support, caregiving, mobility, and medical assistance. When families are strong, both children and elders thrive. When families are under stress-from migration, financial difficulties, or work pressures-neglect can occur unintentionally.

Sharing responsibility within families helps prevent burnout. Older grandparents can play active roles in childcare, storytelling, and passing on values, while adults ensure elders receive proper healthcare, companionship, and respect. This exchange builds mutual trust and reduces feelings of isolation.

Intergenerational Bonds as a Protective Force

One of the most effective ways to protect both children and elders is by strengthening intergenerational relationships. When children grow up with engaged grandparents or older relatives, they learn empathy, respect, culture, and history. Elders, in turn, feel needed, valued, and mentally active.

Simple interactions-reading together, doing homework with grandparents, gardening, or sharing traditional games-can improve emotional wellbeing for both. Research shows that children who grow up close to elders develop stronger emotional intelligence, while elders who interact with young people experience less loneliness and sharper memory.

Communities as a Second Home

Beyond families, communities also play a crucial role in protecting children and elders. Community centres, religious institutions, schools, and local organisations can create programmes that bring these generations together. Intergenerational clubs, neighbourhood care teams, and social events can reduce isolation and offer safe spaces for learning and companionship.

Local volunteers can visit elders living alone, while youth groups can assist with errands, technology, or home needs. Likewise, community childcare programmes or safe play areas can reduce risks for children whose parents are working.

Health and Mental Wellbeing

Protection is not limited to physical safety-it also includes mental and emotional health. Children today face rising stress from school pressure, bullying, technology overuse, and social comparison. Elders often struggle with depression, memory issues, loneliness, or limited mobility. Supporting both groups requires accessible mental health services, regular check-ins, and open communication.

Listening to children when they express fear or discomfort, and giving elders the confidence to ask for help, are essential steps in creating a supportive environment.

Policy, Law, and Social Care

Governments also have a duty to protect both generations. Child protection laws, digital safety regulations, helplines, and school safeguards help prevent abuse and neglect. Similarly, policies on elder rights, pensions, caregiving support, and healthcare access ensure seniors are not forgotten.

However, policies should not treat these groups separately. Integrated care systems-where childcare services, elder support, and family welfare programmes work together-have far greater impact. Encouraging flexible work arrangements allows caregivers to look after both their children and ageing parents without financial fear.

Technology as a Tool for Safety

Technology, when used responsibly, can protect both elders and children. Video calls help families stay connected across distances. GPS trackers and emergency alert systems can assist elders with mobility or health concerns. Parental controls and digital literacy programmes protect children from online threats.

At the same time, teaching elders how to use smartphones and internet tools empowers them to stay connected and reduces isolation. Children can even help elders learn technology, creating meaningful collaboration.

A Culture of Care and Respect

Ultimately, the greatest protection comes from mindset. Children should be taught from a young age that elders deserve gratitude and respect, not inconvenience or neglect. Similarly, elders should be encouraged to share time, wisdom, and kindness with children. When both feel valued, families grow stronger and communities become more compassionate.

Moving Forward Together

Protecting one generation should never come at the cost of the other. By building systems that support both children and elders-within families, communities, and national policies-we create a society that honours life at every stage. Their needs may be different, but their right to safety, love, and dignity is the same.

A nation that cares equally for its youngest and oldest members shapes a kinder, more resilient future-one where protection is not a duty, but a shared promise across generations.

Balendra tells Japanese companies SL seeing economic revival; time to be part of next growth wave

Ceylon Chamber of Commerce Chairman Krishan Balendra this week told Japanese investors that Sri Lanka is seeing economic revival and it is the right moment to be part of shaping the South Asian hub’s next growth chapter.

He made this observation at the Sri Lanka Business Forum in Tokyo as part of a public-private sector initiative to woo Japanese investor interest in tandem with President Anura Kumara Disanayake’s State visit.

‘Sri Lanka is on a clear path of economic revival. After a period of great difficulty, we are seeing steady and broad-based growth, with renewed momentum in exports, tourism, remittances, and investment. Fiscal consolidation, completion of debt restructuring, inflation control, and macroeconomic reforms have helped lay the groundwork for rebuilding confidence,’ said Balendra who led a 20-member delegation organised by the Sri Lanka Japan Business Council )SLJBC) under the aegis of the Ceylon Chamber.

‘The former IMF First Deputy Managing Director Gita Gopinath recently labelled Sri Lanka’s recovery as a stand out experience and remarkable progress within a short-term period of time. The World Bank in their latest Sri Lanka Public Finance Review stated that the scale and speed of the fiscal adjustment standout by historical and international standards. We are seeing this on the ground with economic activity at around 5% GDP,’ Balendra said.

‘For investors, this means Sri Lanka is once again open and ready for business,’ he added at the seminar attended by President Disanayake and Japanese Economy, Trade and Industry State Minister Dr. Ogushi Masaki.

The well-attended forum was organised by the JETRO, Ministry of Economy, Trade and Industry (METI), Sri Lanka Embassy in Japan, the Japan-Sri Lanka Business Cooperation Committee, and the Board of Investment (BOI). It was supported by the Japan International Cooperation Agency (JICA).

Balendra also said Sri Lanka’s strategic location at the crossroads of the Indian Ocean, just a short distance from India, makes it an ideal gateway to South Asia and beyond.

‘Sri Lanka is uniquely positioned to leverage India’s rapid growth from the Colombo Port already handling the bulk of India’s transshipment cargo, to opportunities in tourism, where India is our largest and fastest-growing source market, and in exports, where regional supply chains can be deepened and diversified,’ Balendra pointed out.

Critically, Sri Lanka can leverage formal market access through the existing FTAs with India, South Asia, Singapore, Thailand (signed in 2024 and moving toward implementation). On top of that, exporters benefit from EU GSP+ preferences and the UK’s Developing Countries Trading Scheme (DCTS), widening duty-free or reduced-tariff entry. Taken together, these agreements provide preferential access to 2.5 billion consumers across India, Pakistan, Singapore, Thailand, the EU-27 and the UK. Combined with an increasingly stable policy environment, Sri Lanka offers Japanese companies a reliable and strategically connected partner in the region.

Japanese businesses were told that despite being a small island nation, Sri Lanka has carved out a reputation in several high-value industries. It is a hub for high-tech apparel manufacturing, supplying leading global brands with innovative, ethically produced garments. The country is world-renowned for its Ceylon Tea, while also rapidly gaining recognition as the world’s leading source of Ceylon Cinnamon. At the same time, Sri Lanka’s services sector is advancing rapidly, with IT and BPM services emerging as a key growth driver, supported by a skilled, English-speaking workforce that serves clients across North America, Europe, and Asia.

Balendra acknowledged that several Japanese businesses have already built a strong presence in Sri Lanka, particularly in sectors such as manufacturing, automobiles, electronics, infrastructure, and trading. Their long-standing contributions have created jobs, technology transfer, and enduring partnerships.

‘Looking ahead, opportunities exist to deepen this engagement in apparel, agri-exports, renewable energy, logistics, and IT services, where Sri Lanka’s strengths align with Japan’s expertise and global networks. Together, these sectors highlight how Sri Lanka offers not just resilience, but also a diverse platform,’ Balendra said.

Balendra observed that discussions and exchanges in Tokyo have reinforced the strong foundations on which partnership rests, and more importantly, the opportunities that lie ahead.

He said that the Ceylon Chamber of Commerce remains committed to fostering meaningful engagement between the two business communities and invited Japanese companies to attend the Ceylon Chamber organised Sri Lanka Economic and Investment Summit from 2 to 3 December.

‘As Sri Lanka moves from a period of stability to a phase of sustained and accelerated growth, this Summit will be the premier platform to engage with that journey. It will deepen today’s dialogue, explore sector-specific opportunities, and connect with a wide spectrum of Sri Lankan and international business leaders. We believe this is the right moment for Japanese investors to be part of shaping Sri Lanka’s next growth chapter,’ Balendra emphasised.

The forum in Tokyo was the final event under the public-private sector joint initiative to boost greater economic and business cooperation between Sri Lanka and Japan, buttressing the State visit by President Disanayake. Prior to Tokyo, a similar business forum was held in Osaka apart from President Disanayake officiating at the Sri Lanka Day at Expo 2025 in Osaka.

The private sector delegation with over 20 personnel/companies has interests in manufacturing, exports, services, tourism, logistics, and IT. The delegation included SLJBC Vice President and Spear International Ltd., Chairman and Managing Director Shamil Mendis; SLJBC Treasurer and MendisOne Chairman Rohitha Mendis; SLJBC Immediate Past President and Andrew the Travel Company Managing Director Mahen Kariyawasan; BOV Capital Managing Partner Prajeeth Balasubramaniam; Celestia International CEO Chandana Silva; Connaissance De Ceylan CEO Chamin Wickramasinghe; EW Information Systems Chairman Sanjeewa Wickramanayake; Hayleys PLC Director Sarath Ganegoda; hSenid Group Chairman Dinesh Saparamadu; Lanka Harness Executive President Rohan Pallewatta; MAC Holdings Chairman and President Otani San; MAC Holdings Managing Director Andre Fernando; MendisOne Managing Director Rishantha Mendis; Microsoft Sri Lanka and Maldives Country Manager Harsha Randeny; Tomo Wold Ceylon Chairman Nishantha Perera; Adamjee Lukmanjee and Sons Business Partner – Exports Hashini Kalansuriya; Jayalanka Suppliers Managing Director Ganidhu Ishara; Transfood Lanka Director Sajahan Pasie, NCINGA Group Managing Director Vajira Wijesinghe, and The CCC Assistant Secretary General Dinithi Dias.

Anura, Mahinda, Premadasa: Who is progressive, who isn’t and why?

Two former Navy chiefs whose wartime background was in naval intelligence, are incarcerated. The Government insists that it doesn’t decide to arrest anyone and that any such decisions are not taken by the political authorities but have been and are being taken quite independently by state authorities, i.e., state machinery that has been newly rendered independent by the NPP government.

If so, isn’t it a little odd that President Anura Kumara Dissanayake made the following announcement to an audience of Sri Lankans in New York City?

‘.President Anura Kumara Dissanayake said that investigations into the 2019 Easter Sunday bomb attacks are continuing and advancing and that one or two former Army officials are expected to be arrested over the incident.

.’Several former military officials are to be arrested soon and investigations are both continuing and advancing.’.’ National independence, sovereignty

A hallmark of a progressive in the Global South is the defence of national independence and sovereignty. In his speech to Lankans in Japan, Anura announced the retrenchment of military camps in the North on the assumption that enlightened policy can achieve permanent peace. He is unaware that in no country is a successful postwar security posture, a return to a prewar security posture, because the war itself revealed strategic vulnerabilities. He reassures us that in case there is a war, constitutionally the troops can always be sent back. He’s got to be kidding. Despite the evidence of this island’s long history, AKD is oblivious to dangerous external cross-currents from near and far. Realistic, rational defence strategy and security planning is not based on and derivative of ephemeral domestic politics and policies, but in the axiomatic geopolitical realities that define our island-nation’s existence, namely ‘Who, What and Where we are’ (Mervyn de Silva).

President Premadasa removed an intrusive British High Commissioner and de-coupled a massive Indian military presence. Mahinda pushed-back wartime interference by UK Foreign Secretary David Miliband. But Anura has refused to make public the contents of his administration’s agreements with India. He wouldn’t do that unless there’s something to hide. The multiethnic, multireligious, multilingual agitation in Mannar seems a defensive response to rampant economic Indianisation. Meanwhile, having avoided the 25th anniversary SCO Summit in China, Anura went to Japan, a member of the Quad, and declared to Japan’s corporates: ‘Sri Lanka can be your strategic partner to enter South Asia’. Where is Sri Lanka’s traditional ambidextrous balancing? JVPer in New York

Among those delivered this year at the UN General Assembly in New York, my favourite speeches were those of three democratically-elected presidents from the Latin American left: Brazil’s Lula, Colombia’s Gustavo Petro and Chile’s Gabriel Boric.

President AKD’s speech didn’t make my short list for several reasons. This must be contrasted with the speech by Chile’s Gabriel Boric who explicitly denounced Israel for perpetrating the massacre of Gazans and the destruction of Gaza.

President Anura Dissanayake chose to quote President Harry Truman towards the closure of his speech. ‘As President Harry Truman stated on the occasion of founding the United Nations.’ If he wanted to quote an American president he could have chosen President Franklin Delano Roosevelt and his ‘Four Freedoms’. Instead Anura chose FDR’s successor President Truman who chose to drop atomic bombs on the entirely civilian, fellow Asian population of Hiroshima and Nagasaki.

AKD didn’t have bilateral discussions on the sidelines of the UNGA with a single democratically-elected progressive leader from Latin America and the Caribbean– leaders from countries which have experienced the debt trap and are in the forefront of initiatives against it.

Sri Lanka’s Palestine policy

Prime Minister Sirimavo Bandaranaike broke off diplomatic relations with Israel. President Premadasa faced a situation that Anura did, in that his predecessor JR Jayewardene had permitted an Israeli presence and role-though it must be said that President Jayewardene’s government was also among the world’s first to recognize the PLO’s Government-in-exile headed by Yasser Arafat.

President Premadasa shut down the Israeli Interests Section. When highly-influential US Congressman Stephen Solarz flew to Sri Lanka, called on the president and cautioned him that such a closure would have consequences, Premadasa replied ‘Congressman Solarz, do you think we Sri Lankans believe that actions don’t have consequences? This meeting is now over’. He stood up and left the room.

In 1991, with the US leading a coalition that won the first Gulf War (‘Desert Storm’) and the USSR in meltdown, months away from self-dissolution as a state, unipolarity was dawning in the global order for the first time since the zenith of the British empire. US President George HW Bush addressed the UN General Assembly, reminded it that in 1975 (the height of the Third World’s power) when it had passed a resolution defining ‘Zionism as a form of Racism’, the US had pledged to repeal that resolution. Bush Sr. declared he had come to honour that pledge and insisted the UNGA repeal the 1975 resolution.

The UNGA did so with only 25 states voting against repeal. Of the 25 there was only one that was neither Islamic nor Communist-led. That was Sri Lanka under President Premadasa. He had telephonically instructed our Permanent Representative Prof Stanley Kalpage not to abstain or absent himself ‘by heading for the bathroom’.

President Premadasa’s view was that the 1975 resolution should have been repealed only after Israel had agreed to the establishment of a Palestinian state, because until then, the denunciation that Zionism was a form of racism would have remained valid. Premadasa has been proven prophetic by Israel’s ongoing genocide of the Palestinians of Gaza.

President Mahinda Rajapaksa was known for his principled and resolute solidarity with Palestine, and personal affection and respect for Chairman Yasser Arafat.

During Israel’s war on Gaza in 2008-2009 (‘Operation Cast Lead’) Sri Lanka was among those prominent in successfully achieving at the UNHRC in Geneva what was sabotaged at the UNGA, New York at the time: pass a Resolution of condemnation. I was Sri Lanka’s Ambassador/Permanent Representative. When an incensed Secretary of Defence Gotabaya Rajapaksa phoned me to rudely demand ‘who told you to speak condemning Israel?’ I replied with complete honesty, ‘your brother’-with whom I’d had a conversation before the resolution.

A few months later came the US-backed EU resolution against Sri Lanka at the UNHRC which we were able to pre-emptively and decisively defeat with our own. Our defence of the Sri Lankan military’s offensive against the Tigers had added legitimacy in the Council because we had earlier demarcated ourselves from the barbaric behaviour of the Israelis by our prominent role in the resolution on Gaza. All Arab and Islamic (OIC) members elected to the UNHRC voted for Sri Lanka.

Much more historic was Sri Lanka’s role in 2011 in Paris. Prefiguring the UNGA vote last week, the first UN body to vote Palestine in as a new member was the UNESCO in Paris. US Secretary of State Hillary Clinton flew over before the vote and addressed us. I was Sri Lanka’s ambassador to France, accredited to Spain and Portugal, as well as Permanent Delegate to UNESCO. Hillary told us that the US Congress had resolved to cut 60% of America’s funds to UNESCO if it voted to admit Palestine. It posed a daunting challenge because the entry of a new member required a two-thirds majority of the UNESCO membership.

The decisive debate was at the UNESCO Executive Board consisting of 58 ambassadors representing member states. When collectively deliberating on Hillary Clinton’s polite but pointed threat of financial amputation if not decapitation, I spoke up reminding members of a framed quote that we passed on the corridor to the venue, by Jawaharlal Nehru who had said that ‘UNESCO must serve as the conscience of the world’. My question was: ‘Are we going to allow funding, i.e., money, to determine that role? How can we put a price on conscience?’ Dr. Tissa Vitharana was attending another UNESCO conference pertaining to his portfolio as Science and Technology Minister, accompanied by Prof Sirimali Fernando, head of the National Science Foundation. We arranged for him to address the UNESCO General Conference assembly. Having phoned MR, he made a strong speech recalling President Rajapaksa’s consistent support of Palestine and urged a ‘Yes’ vote.

When the UNESCO general conference voted, Palestine won more than the required two-thirds majority. In a precursor of what was to come in New York 14 years later, France too voted to admit Palestine.

In 2013 when a High Commissioner friendly to Colombo suggested that having just returned from my Paris stint, I should be redeployed to Geneva because Sri Lanka’s majority had collapsed and long-term defeat in facing UNHRC resolutions was highly probable, Gotabaya Rajapaksa unabashedly expostulated that he ‘had to fly to Tel Aviv to explain’ my role in support of Palestine at UNESCO.

Once, when attending the UNGA in New York, Mahinda Rajapaksa insisted that Sri Lanka’s Ambassador/PR cancel a meeting that had been arranged at the latter’s initiative with New York’s Jewish lobby.

Mahinda’s strong commitment to the cause of Palestine earned him the honour of a road named after him by the Palestinian Authority in Ramallah, in the West Bank.

High marks, no Marx

If AKD’s foreign policy is retrogressive rather than progressive, his economic policy is worse. Evaluating Anura’s first year in office, Advocata’s Dhananath Fernando, the popular young preacher of free-market fundamentalism, gives AKD ‘100 marks’ precisely for his preferential options among the choices available to him.

The chief economic ideologue of the leading right-wing economic think-tank commends Anura fulsomely for ‘maintaining policy continuity in all the critical areas’, and having ‘accelerated the debt restructuring process, signed most of the debt contracts’. He praises him also for ‘the digitization drive, getting Dr Hans.’.

Summarising Anura’s first year achievement, Dhananath applauds him and his comrades for the ‘courage’ to embrace exactly what they had opposed.

‘Consistency is what they brought in without changing the key reforms.they went to courts against Central Bank independence, but they didn’t change it once they came to power’. Can the JVP-NPP ideologues who advocate giving AKD time and the benefit of the doubt, explain why a supposedly leftwing or progressive administration didn’t prefer to invite Lankan-born economist Prof Howard Nicholas, based in a prestigious European university, author of a book on Marx’s economics, occasional consultant in Vietnam, and analyst of Sri Lanka’s foreign debt crisis in a scholarly economics journal, to advise the President and be a chief negotiator? What manner of ‘progressive’ president/govt prefers Nandalal Weerasinghe, Mahinda Siriwardana and Duminda Hulangamuwa instead?

President Ranasinghe Premadasa picked Oxford-educated ex-civil servant, ex-political prisoner and radical-left Third Worldist intellectual Susil Sirivardhana, editor of the Maoist-inclined cultural journal Mawatha, as head of both his emblematic programs, Housing and Janasaviya. Susil co-authored Prime Minister and Presidential candidate Premadasa’s 1988 election manifesto. He was Premadasa’s key ideologue and spokesperson on development policy.

Mahinda Rajapaksa’s long-time ideologue and policy intellectual was Dr Sunimal Fernando, leftwing social scientist and product of the London School of Economics.

How are Anura Dissanayake and his policy troika Nandalal Weerasinghe-Mahinda Siriwardena-Duminda Hulangamuwa, more progressive than Ranasinghe Premadasa and Susil Sirivardhana (or Mahinda Rajapaksa and Sunimal Fernando)?

Speaking to Sri Lankans in New York, there was an interesting moment when Anura was posed a question in English by a senior gentleman, broadly on the issue of social welfare. AKD tossed the question to Foreign Minister Vijitha Herath, high-ranking JVP Politbureau member of long-standing. Vijitha reply was ‘as you know we are now in a crisis, and we shall proceed to a strong social welfare net in 3-4 years.’ So, the economic crisis which disproportionately impacts the poor and the working people including the middle classes, will not have a robust social safety net on the JVP-NPP’s watch, until the crisis is over. This is to the right of the World Bank and UNDP.

Vijitha Herath cannot be chiefly blamed because President Anura Dissanayake said much the same thing in his speech to Sri Lankan New Yorkers:

‘.However, stability, he noted, is only the beginning. The next phase is ensuring that these economic gains ‘flow down to the ordinary people.’.’ So, the first phase is stability/stabilisation, the next is ‘economic gains.flowing down to the ordinary people.’ (My emphases-DJ)

First come the foreign private creditors, the top local corporates and the wealthiest decile– the ‘extraordinary’ people ‘up’ there– and next come ‘the ordinary people’ who are ‘down’ there. If this isn’t trickle-down, what is?

Contrast that with President Premadasa who kicked off the Janasaviya poverty alleviation program in Hambantota, the cradle of the Southern insurgency, at a time of twin civil wars or as he put it ‘a torch burning at both ends’, South and North, a foreign military presence (which fed the Southern insurgency), and an economy reeling from destruction and sabotage.

He didn’t seek to stabilise first, then grow, then channel the resultant prosperity down to the ordinary people. He led with Janasaviya, reduced absolute and relative poverty, narrowed the inequality gap while accelerating growth, energised the stock-market, attracted foreign investment and launched an export-led, province-based industrialisation drive which is still keeping our economy afloat. Premadasa achieved stabilisation and recovery through ‘growth with equity’.

Provincial devolution

40 years ago (1985), two years before the intrusive Indian airdrop, the Sri Lankan State led by President JR Jayewardene, represented at bilateral talks in Delhi by his brother Harry Jayewardene QC, agreed to the devolution of power within a unitary state to a provincial (no longer district) unit. Legislated in 1987, activated in 1988, it is the most progressive democratic structural reform of the State since Independence.

Snarled-up for years including by the JVP, Provincial Councils are being kept open-endedly unelected and comatose by the AKD-JVP-NPP administration which is silent about provincial devolution, unlike other mainstream parties.

In the core domains I call ‘the 3-Es’– economic policy, external relations and ethnic autonomy– the AKD-JVP-NPP Government is way behind most leaderships and governments we’ve had since Independence. It isn’t ‘progressive’, ‘left-oriented’ or ‘centre-left’ by any comparative international or national standard. It is a retrogressive rightward shift; a Great Leap Backward.

Seylan Bank appoints new COO

Seylan Bank PLC announced the appointment of Ranil Dissanayake as its new Chief Operating Officer (COO).

Having begun his banking career with Seylan Bank, Dissanayake brings over 35 years of experience in banking leadership, strategy, and operational excellence to the role.

Dissanayake’s career spans significant milestones across Branch Banking, Corporate Banking, and SME development.

He began his journey managing several of Seylan’s key metropolitan branches, including the flagship Millennium Branch, where he drove consistent growth and service excellence.

Rising through the ranks, he went on to serve as Regional Manager for both suburban and metropolitan networks, and later as Zonal Head, overseeing a large branch footprint with a focus on strategic expansion and enhanced service delivery.

His expertise in SME banking has been a defining strength throughout his career. As Assistant General Manager, SME, and Associate Member of the Institute of Bankers of Sri Lanka, he worked closely with global consultants such as the Boston Consulting Group (BCG) to implement structural reforms that enhanced SME lending and processing efficiency.

In his most recent role as Deputy General Manager – Branch Credit, Dissanayake oversaw lending operations across the SME sector, aligning credit growth with the bank’s strategic objectives while upholding risk and portfolio quality standards.

In addition to branch and SME leadership, Dissanayake has played a key role in guiding strategic business units. These include the bank’s Islamic Banking division, the Credit Monitoring Unit, Margin Trading and Factoring services, Centralised Credit Units and Regional Hubs, as well as the SME Business Development Unit.

His contributions have extended beyond operations to spearheading market research, product development, customer acquisition, and industry networking through SME-focused initiatives.

As a Key Management Personnel (KMP), Dissanayake has been instrumental in shaping Seylan Bank’s corporate strategy.

His leadership has consistently emphasised financial inclusion, sustainable credit growth, and innovation in banking services. His extensive experience across diverse banking functions positions him well to lead the bank’s operations into its next phase of growth.

Sri Lanka Badminton Novices sets off in Ratnapura

The Sri Lanka Badminton Novices Championship 2025 began in Ratnapura following the opening ceremony where top officials of Sri Lanka Badminton (SLB), the Regional Development Committee and Sabaragamuwa Province Badminton Association graced the occasion.

The five-day grand competition for novice shuttlers, has drawn a large number young and aspiring shuttlers from all parts of Sri Lanka, where the next generation of badminton stars are expected to compete under exciting surroundings. The event is underway simultaneously at three prominent indoor facilities in the Sabaragamuwa region – the Deshabandhu Lt. Col. W. Wimaladasa Indoor Stadium in Kuruwita, the Sabaragamuwa Province Indoor Sports Complex, and the Seevali College Indoor Stadium, both situated in Ratnapura. The organisers, SLB, have been fully supported by the Regional Development Committee and Sabaragamuwa Province Badminton, the entity who have taken the responsibility to conduct the event.

The five-day event includes competitions for shuttlers of the age categories of Under-19, Under-17, Under-15, Under-13 and Under-11. The vast number of shuttlers will compete under Boy’s and Girl’s in Singles as well as Doubles under Junior Events. The Open Event for shuttlers of 14-years and above, includes competitions Singles and Doubles events for Men and Women and Mixed categories. The entire tournament will be conducted in accordance to the BWF Laws of Badminton.

The competition continued at all three venues with the preliminary round matches from 28 September, until 30 September before the knockout stages. The quarter-finals and semi-finals have been slotted to take place today, followed by selected semi-finals and finals of all age categories tomorrow, followed by the awards ceremony.

Sampath Bank only banking case study in Kotler’s ‘Essentials of Modern Marketing’ Sri Lankan edition

The first-ever Sri Lanka edition of Essentials of Modern Marketing by Prof. Philip Kotler, developed in cooperation with Kotler Impact Inc. and Deyo Consultancy and Advisory, was officially launched at the Cinnamon Grand Hotel in Colombo recently.

Sampath Bank is the only bank featured as a case study in this landmark publication, a distinction that celebrates the Bank’s commitment to harnessing innovation to address real human challenges while shaping the future of banking in Sri Lanka.

The case study spotlights Sampath Bank’s pioneering Touchless Cash Withdrawals, the first such service in Sri Lanka and among similar innovations in Asia, introduced at the height of the COVID-19 pandemic. Designed to minimise physical contact at ATMs, the service enabled customers to withdraw cash using a QR code generated on the Bank’s WePay mobile app, eliminating the need to touch the machine. Initially offered to its own customers, the Bank later extended the service to users of other banks, reflecting its ethos of inclusivity and collective responsibility.

Sampath Bank Senior Deputy General Manager – Marketing and Life Lead Operations Tharaka Ranwala said: ‘Marketing isn’t just about what you do but about what you do for people. At Sampath Bank, we believe that is where true marketing lives, in the space where we solve problems within our society, and in turn, those solutions drive our business to greater heights. Being featured in a publication that has shaped modern marketing thinking across the world affirms our unwavering commitment to innovation with purpose, and inspires us to keep creating experiences that transform lives.’

Its inclusion in Kotler’s Essentials of Modern Marketing reflects how the initiative reshaped industry behaviour and consumer expectations well beyond the pandemic. Pioneering touchless withdrawals accelerated the adoption of contactless technologies in Sri Lanka’s banking sector, setting new benchmarks for safety, accessibility, and digital trust. The service’s rapid uptake demonstrated how empathetic innovation can deepen customer loyalty and drive market differentiation, turning a health-driven necessity into a sustained competitive advantage.

HNB Assurance Wins Silver at Dragons of Sri Lanka 2025 Awards

Breaking boundaries in brand storytelling, HNB Assurance proudly bagged a Silver at the Dragons of Sri Lanka 2025 Awards for its Virtual Avurudu Village campaign under the Digital Category. This innovative initiative redefined how traditions can meet technology, turning a beloved cultural festival into an immersive digital experience that struck a chord with a new generation of audiences.

Commenting on this achievement, Lasitha Wimalarathne, Executive Director / CEO of HNB Assurance, stated, ‘We are very pleased to receive this Silver Dragon for our Virtual Avurudu Village campaign. At HNB Assurance, we believe in constantly exploring new and innovative ways to connect with people and this campaign was a perfect example of that. By reimagining a traditional celebration in a virtual format, we were able to create an engaging experience that resonated strongly with both younger and wider audiences. My sincere thanks and heartfelt congratulations to all the teams involved in designing and delivering this campaign.’

Sharing his thoughts, Dinesh Yogaratnam, Chief Marketing and Customer Experience Officer/ General Manager of HNB Assurance, added, ‘Winning a Silver Dragon this year reinforces the importance of evolving our communication strategies to keep pace with consumer trends. With Virtual Avurudu Village, we not only embraced innovation but also stayed true to our cultural roots by bringing Avurudu festivities to a digital platform. This enabled us to create a unique blend of tradition and technology, opening the door to new audiences while strengthening brand affinity. I’d also like to extend my gratitude to our digital partner, Kites Global, for their contribution in bringing this idea to life.’

Money market liquidity increases to near 4-month high

The overnight net liquidity surplus in the inter-bank money market surged to Rs. 198.79 billion yesterday, reaching the highest level since 05 June. An amount of Rs. 203.36 billion was deposited at Central Banks SDFR (Standing Deposit Facility Rate) of 7.25%, while an amount of Rs. 4.57 billion was withdrawn from Central Banks SLFR (Standard Lending Facility Rate) of 8.25%.

The weighted average rates on call money and repo were registered at 7.87% and 7.88% respectively.

Meanwhile, the Treasury Bills auction scheduled to be conducted today will have a total offered amount of Rs. 43 billion, an increase of Rs. 5.00 billion over the previous week. The auction will consist of Rs. 8.00 billion on the 91-day, Rs. 25.00 billion on the 182-day and Rs. 10.00 billion on the 364-day maturities.

For context, at the previous weekly Treasury Bill auction (held on 24 September) the weighted average yields remained unchanged. Accordingly, the rate on the 91-day, 182-day and 364-day tenors remained at 7.57%, 7.89% and 8.02% respectively. This marks the 10th week where T-Bill weighted averages have stayed mostly unchanged at auctions. In terms of subscription, 90.41% of the total offered amount was raised, with successful bids amounting to Rs. 34.35 billion against the Rs. 38.00 billion on offer in the first phase of competitive bidding. This marked the fifth consecutive auction that fell short of fully raising the targeted amount. Subsequent to the T-Bill auction an additional amount of Rs. 275 million was raised at the second phase.

The secondary Bond market remained largely subdued for a second consecutive day. Market participants adopted a watchful stance, leaving conditions at a virtual standstill for much of the session. Yields, however, edged up marginally during trading, with two-way quotes closing the day slightly up.

The 01.02.26 maturity traded at the rate of 8.00% and the 15.09.27 maturity was seen trading at the rate of 8.77%. The 15.03.28 and 01.05.28 maturities were seen trading at the rates of 9.05% and 9.10% respectively. The 15.06.29, 15.09.29 and 15.12.29 maturities were seen trading at the rates of 9.48%, 9.50% and 9.60% respectively. The 01.07.32 and 01.10.32 maturities were seen trading at the rates of 10.65% and 10.40% respectively. The 15.09.34 maturity traded between the rates of 10.82%-10.80%.

The Colombo Consumer Price Index (CCPI; Base 2021=100) for the month of September was recorded at a positive + 1.5% on its point to point. This is as against its previous month’s figure of + 1.20%, which was incidentally the first instance of positive inflation in 11 months up to that point. The annual average was registered at -1.4% as at September.

The total secondary market Treasury Bond/Bill transacted volume for 29 September was Rs. 2.30 billion.

Forex market

In the Forex market, the USD/LKR rate on spot contracts closed the day steady Rs. 302.55/302.60 unchanged against the previous day.

The total USD/LKR traded volume for 29 September was $ 103.05 million.