Category: Daily Financial Times

The Colombo Port City Economic Commission will shortly invite proposals for an international university, hospital, and school, as it shifts its focus from developing real estate to building the institutional foundations needed to attract multinational companies and skilled professionals.

Commission Chairman Harsha Amarasekera, PC said the three projects were integral to the next stage of Port City’s development, arguing that globally recognised education and healthcare institutions had become prerequisites for companies considering long-term regional operations.

‘There will be a Request for Proposal (RFP) for a university, one for a hospital, and one for a school,’ Amarasekera said at a recent forum organised by the Public Relations Forum of Sri Lanka in association with The Sri Lanka Institute of Directors, AMCHAM and Port City Colombo.

‘The criteria will be based on the international recognition of the university, the hospital, and the international school. All three are considered fundamental to the success of the whole City.’

He said the facilities would also serve the wider Colombo metropolitan area by strengthening domestic education and healthcare while reducing the outflow of foreign exchange on overseas schooling and medical treatment.

Amarasekera said Port City was conceived as a Special Economic Zone (SEZ) centred on internationally traded services rather than manufacturing, with businesses operating within the City serving overseas markets instead of the domestic economy.

‘It is a dollarised economy,’ he said, noting that the Commission currently permits transactions in 14 foreign currencies, with additional currencies expected to be approved over time.

That framework, he said, forms part of a broader strategy to position Port City as a base for global capability centres, innovation hubs, compliance operations, and business continuity facilities serving companies with regional operations.

Rather than relocating entire headquarters, companies could establish satellite operations in Colombo capable of supporting business continuity during geopolitical or operational disruptions elsewhere, he said. Under the Commission’s regulatory framework, transferred personnel could obtain visas within four days, allowing firms to move operations with minimal interruption.

Amarasekera acknowledged, however, that Sri Lanka’s shortage of skilled technology professionals remained a significant constraint on attracting large-scale investment.

He said discussions with prospective investors showed that while companies were prepared to establish operations in Colombo, expansion frequently stalled once initial recruitment needs had been met because sufficient local talent was unavailable.

‘If they can’t find the talent at the correct price point, they can attract the talent from India until such time our universities and technical colleges produce those numbers,’ he said.

Amarasekera argued that allowing companies to recruit foreign professionals should be viewed as a transitional measure that would support knowledge transfer while generating economic activity, as expatriate employees earning in foreign currency would spend on housing, services, and other local consumption.

He also outlined the Commission’s governance framework, saying all businesses seeking to operate within Port City require Commission approval, while applications for incentives are evaluated against transparent criteria before recommendations are submitted to Cabinet for approval.

Separately, Amarasekera rejected suggestions that the project had transferred ownership of reclaimed land to China, reiterating that the land is owned by the Government of Sri Lanka and vested in the Port City Economic Commission, with certain parcels leased to the project developer to recover reclamation costs.

He said five developments are currently under construction within Port City, with a further five expected to be awarded by the end of the year and two smaller projects targeted for completion before December as the Commission seeks to accelerate the transition from infrastructure development to commercial operations.

In the paddy fields around Nagollagama, in Sri Lanka’s Kurunegala District, the monsoon no longer behaves the way it used to. Rains that once arrived on a familiar calendar now come early, late, or not at all. For a farmer deciding when to sow, irrigate, hold back water, and fertilise, that uncertainty is not an abstraction. It is the difference between a good year and a hopeless one.

These are genuinely hard decisions and until recently farmers were making them largely in the dark.

On 1 June, first, the International Water Management Institute (IWMI), in partnership with Sri Lanka’s Department of Agrarian Development (DAD), inaugurated an Agro-Climate Advisory Lab at the Nagollagama Agrarian Service Centre. A modest building, now home to an outsized idea – that a seasonal weather forecast, properly translated and delivered, can become a farmer’s most valuable input.

A five-year journey, not overnight fix

The lab did not appear from nowhere. It is the visible result of a patient, five-year engagement.

In 2021, the first pilot reached 250 farmers, bundling climate-resilient seed, agro-climatic advisories and crop insurance. When these farmers met with climate-induced losses, insurance payouts cushioned the blow. By the Yala harvesting season in 2025, the model had sharpened to include climate-resilient paddy seeds from private sector partner CIC holdings, 6,000 agro-climate advisories to 100 farmers, and a yield-improvement program. Then came the leap. In the 2026 Maha season, the same service center disseminated more than 125,000 advisories to nearly 10,000 farmers – a hundredfold increase in reach in a single year. The program also supported Nagollagama by rehabilitating an irrigation canal.

What makes this remarkable is not the technology alone. It is that climate-agriculture advice reaches the farmer in their own language, tailored to local conditions, and explained in ways that are directly relevant to their farming activities, and timely enough to shape how they plan their work.

From satellite to SMS

The journey of a single advisory follows five simple steps. IWMI’s AWARE platform gathers a seven-day weather forecast. Field officers observe the real condition and growth stage of the crop. Raw data is then translated into plain-language guidance any farmer can understand. Weather, crop status and agronomic recommendations are combined into a tailored advisory – validated by DAD and Agrarian Service Centre officers and shaped in consultation with the Aruna Farmer Organisation ¬- one Sri Lanka’s largest community led farmers’ organisations. Finally, the advisory reaches each farmer’s phone, twice a week.

Forecast, translate, observe, integrate, and deliver. No step is glamorous. Together, they close the gap between a meteorological model and a muddy field.

Proof is in the harvest

Sceptics rightly ask whether agro-climatic advisories change anything. In Nagollagama, the evidence is notably straightforward. IWMI compared 100 supported farmers with 100 non-beneficiary farmers in the same area, on the same land, under the same skies.

The farmers who were supported by the Agro-Climate Advisory Lab harvested 226 kilograms more rice per acre, worth roughly Rs. 27,100 ($ 82) in additional income per acre.

An intensive cohort of just ten farmers, given more targeted support through the CIC holdings climate resilient paddy partnership, did even better: 390 kilograms more per acre, and about Rs. 46,800 ($ 141) in extra income, against only Rs. 6,000 ($ 18) in added input costs. That is a strong return on a small investment.

‘We planned how to spray fertiliser and prepare the soil based on the climate advisory’ said Sardha Dayanshani, secretary to the Aruna Farming Organisation, explaining how they operationalised the advisory service received through SMS.

The partnerships underpinning this impact is equally important. A catalytic contribution from IWMI, backed by the CGIAR Climate Action program and Japan’s Ministry of Agriculture, Forestry and Fisheries unlocked the potential of these farmers in Nagollagama. Mobilising the reach of the Department of Agrarian Development, the expertise and seed resources of CIC holdings, and the trust of the Aruna Farmer Organisation, they were able to meaningfully improve harvests for thousands of farmers.

For C. Dayawathi, an agriculture research and production assistant at DAD, the ambition is simply to grow. ‘We moved away from traditional systems and achieved better standards – and we got a good harvest,’ said Dayawathi. ‘My hope is for the next seasons to bring a bigger group of farmers into this effort.’

Clearest signal of success: Increased demand

The most telling indicator is one no project can manufacture – unsolicited demand. Two neighboring service centres, in the villages of Mahawa and Polpithigama, have formally asked for the same advisory service. Word travels fast between farming communities when something works.

This is why 2026 was the year the Nagollagama approach moved from pilot to institution. The Agro-Climate Advisory Lab anchors the local generation of advisories so the model can be handed to DAD and replicated across districts, rather than depending on any single project.

Interest already extends beyond Sri Lanka. IWMI is positioning Nagollagama as a model site for South-South learning, with engagement underway involving partners in Zambia and Pakistan, and a CGIAR science delegation expected to visit later in 2026.

How governments and donors can invest

For a finance ministry or a development partner weighing where to put scarce climate funds, Nagollagama offers a practical template.

Governments can embed advisory generation inside existing agrarian extension structures – as Sri Lanka has done through Sri Lanka’s Department of Agrarian Development – so the service outlives the project and reaches the last mile user through institutions farmers already trust. Donors can fund the bundle, not just the gadget: climate-resilient seed, twice-weekly localised advisories, light-touch insurance and the modest digital backbone that ties them together. Both should resource the unglamorous middle layer – the people and platforms that translate forecasts into farm-ready instructions – because that is where most early-warning systems quietly fail.

The impact on farmer income makes the case. A modest catalytic investment, placed inside trusted institutions, generated measurable income gains for nearly 10,000 households – a return that compounds with every season and every new service center that adopts the model. The lesson is not that climate adaptation is cheap; it is that well-targeted public and donor finance, channeled through structures farmers already rely on, can deliver outsized and lasting returns.

Change-making capability for the region

The world has rightly rallied behind Early Warning for All – the goal of protecting everyone on Earth with early warning systems. Yet a warning is only protective if it can trigger timely and practical action. Nagollagama shows that early warning is only meaningful when it reaches a farmer through accessible technology, in a language they understand, at the moment in their farming cycle when decisions need to be made.

That is the quiet revolution here. Not a new satellite, but a new pathway – from forecast to field, from data to dignity, from uncertainty to a harvest a family can count on. If this model spreads across South Asia and Africa as the demand suggests it will, the region will have built something rare: a climate capability that does not merely warn people of the storm, but helps them plant through it.

Sri Lanka is witnessing a notable shift in tourist spending patterns, with visitors from the Asia-Pacific region, particularly India, spending more per day than many traditional long-haul markets despite shorter lengths of stay, Sri Lanka Tourism Promotion Bureau (SLTPB) Chairman Buddhika Hewawasam said yesterday.

Highlighting changing traveller behaviour, Hewawasam said the average daily expenditure of Indian tourists has increased to around $ 154, exceeding Sri Lanka’s overall average daily spend of $ 148.

‘Sometimes Indian travellers spend more than European tourists,’ he said, noting that visitors travelling specifically for wildlife and marine tourism spend between $ 160 and $ 170 per day, stressing the growing demand for high-value niche tourism experiences.

India remains Sri Lanka’s largest tourism source market by a considerable margin. Year-to-date (YTD), 301,875 Indian tourists have visited the country, accounting for 26% of total arrivals recorded so far in 2026. During the first six days of July alone, 8,192 Indian visitors arrived in Sri Lanka, representing 24% of total arrivals during the period.

Hewawasam said Sri Lanka Tourism has intensified promotional activities across India, covering several major cities, new destinations like Gujarat and Ahmedabad, and market segments as part of its strategy to strengthen its position in the country’s largest outbound travel market.

‘We are positioning Sri Lanka not only as a leisure destination but also as a destination offering diverse experiences,’ he said.

The SLTPB Chairman also pointed to significant differences in spending patterns across source markets. According to data, he said travellers from Malaysia also spend more, though the United Arab Emirates (UAE) records the highest average daily expenditure at around $ 195, while visitors from Egypt and Trkiye spend over $ 180 per day, although they generally remain in the country for around six to seven days. In comparison, tourists from Belgium, Austria, and the Czech Republic spend below $ 145 per day.

However, he said European visitors typically stay between 11 and 14 days, whilst noting that the Asia-Pacific region generates higher overall tourism revenue because of stronger daily spending levels despite relatively shorter visits.

He attributed the changing spending patterns to growing demand for premium and experience-based tourism products.

‘Visitors are increasingly seeking unique and premium experiences, including wellness tourism, cultural experiences, nature-based activities, adventure tourism, and authentic local experiences rather than conventional sightseeing alone,’ he said.

Hewawasam stressed that Sri Lanka Tourism’s strategy is focused on increasing both visitor spending and the average length of stay by diversifying and upgrading the country’s tourism offerings.

‘Our objective is to increase both tourist spending and the average length of stay by continuously enhancing Sri Lanka’s tourism product portfolio,’ he added.

In a significant step towards promoting greater female representation in hospitality, Cinnamon Lakeside Colombo has transformed Goodies, its popular coffee shop, into a fully female operated outlet which is the first all-female outlet in Cinnamon Hotels and Resorts.

The initiative was personally championed by General Manager Dushyantha Tittawella, whose vision was to create greater opportunities for women within hotel operations while showcasing their capabilities in customer facing and leadership roles.

Today, Goodies is managed and operated entirely by women, from guest service and cashiering to supervisory and operational responsibilities, highlighting the talent, professionalism, and leadership potential of women in hospitality which aligns with Cinnamon Lakeside Colombo’s broader commitment to diversity, equity, and inclusion.

Commenting on the initiative, Tittawella said: ‘This was not a project that happened overnight. It required determination, planning, and the collective effort of many individuals who believed in the vision. I am incredibly proud of the team at Goodies and hope this initiative encourages more women to pursue rewarding careers within the hospitality industry. At Cinnamon Lakeside Colombo, we believe that diversity strengthens our organisation and enriches the experiences we create for our guests. The transformation of Goodies into a fully female operated outlet is a meaningful step towards empowering women, recognising their capabilities, and encouraging greater participation in the hospitality industry. We hope this initiative inspires more women to pursue rewarding careers within our sector.’

At Goodies, guests can indulge in a tempting selection of freshly baked cakes, pastries, gourmet sandwiches, and expertly crafted coffees served throughout the day. A longstanding favourite among regular patrons, the signature Chocolate Chip Cake remains a must try, known for its rich flavour and moist texture. Whether stopping by for a morning coffee, a quick business lunch, or an afternoon treat, guests can enjoy a variety of sweet and savoury delights, including freshly prepared sandwiches, decadent desserts, specialty teas, and premium coffee blends, all served with the warm hospitality that has made Goodies one of Colombo’s most loved café destinations.

We thank the Ceylon Petroleum Corporation (CPC) for its response (Daily FT, 7 July 26 https://www.ft.lk/opinion/Right-of-Reply-CPC-responds-to-Verit%C3%A9-Research-opinion-column-on-pricing/14-794310) to our Op-ed ‘The price is wrong, twice: Sri Lanka’s fuel is both overpriced and underpriced’ (Daily FT, 15 July 2026 See https://www.ft.lk/ft_view__editorial/The-price-is-wrong-twice-Sri-Lanka-s-fuel-is-both-overpriced-and-underpriced/58-793292). Three brief observations are warranted.

First, the only informational point the response presents as contradicting our Op-ed is that Government fuel subsidies and pricing decisions apply across all licenced fuel marketing companies, and not to CPC alone. But our Op-ed took exactly that point as given. The comparison with other market players rests on the premise that they operate under the same subsidies and the same prices as CPC. Any reading of the article that suggests otherwise would be a misreading. What warrants correcting, then, is the misreading – not our Op-ed as written.

For how the Government subsidy is cleverly designed to be fiscally neutral, see the article ‘Fuel Price Shock Does Not Have to be Passed on Fully to Consumers: Why and How?’ published in PublicFinance.LK. It is precisely because the central Government is providing this subsidy – effectively a refund of the excess tax collected due to price increases – that CPC has no grounds to claim the losses it claims from the sale of fuel.

Second, the response claims that our Op-ed contains statements that are ‘factually incorrect’ and ‘unsupported by evidence’. That claim falls on its own sword: the response offers no data or evidence whatsoever to substantiate it. The analysis in our Op-ed, by contrast, was built on CPC’s own published purchase prices, the Government’s published subsidy, and global market prices. We would have been glad to receive information – if any exists – that would change the analysis. Unfortunately, none has been provided.

Third, the response lectures the media that material should not be ‘published without proper verification of the relevant data’, and that ‘information published on matters of national economic importance be based on verified facts and reliable evidence’. The irony is that this advice, if it had been applied, would have prevented the publication not of our Op-ed – which is anchored in published data – but of the response to it by CPC, which contains none.

The question posed by our Op-ed therefore remains on the table, unanswered: why does the main State institution that supplies fuel in Sri Lanka pay more to purchase it than comparable suppliers, in Sri Lanka and in the rest of the world?

Seylan Cards successfully concluded its partnership as Title Partner of the Pickleball Slam 2026, organised by YES 101, bringing together corporate teams, sports enthusiasts, and aspiring athletes for a day of competition, wellness, and community engagement at The Pickle Island, Excel World.

As one of Sri Lanka’s most recent emerging sporting events, the Pickleball Slam 2026 showcased the rapid growth of pickleball, one of the world’s fastest-growing sports, while creating a vibrant platform for participants to connect through an active and engaging lifestyle experience.

The event attracted a diverse mix of corporate professionals and pickleball enthusiasts who competed across multiple categories, reinforcing the sport’s growing appeal among Sri Lanka’s active communities. Through its title partnership, Seylan Cards extends its services beyond traditional banking and payments to provided lifestyle-driven experiences for its customers.

Head of Cards Ruchith Liyanage said: ‘At Seylan Cards, we believe our role extends beyond enabling transactions. We are committed to enriching the lifestyles of our Cardholders through meaningful experiences that reflect their passions and aspirations. The Pickleball Slam 2026 provided an excellent opportunity to engage with a vibrant and active community while supporting a sport that is rapidly gaining popularity both globally and locally. We are delighted to have partnered with YES 101 to bring this unique experience to life.’

The partnership reflects Seylan Cards’ ongoing commitment to delivering value beyond financial services through exclusive experiences that foster wellness, social connection, and memorable moments. By supporting emerging lifestyle trends, Seylan Cards continues to emphasise progressive and customer-centric initiatives that understand the evolving interests of modern consumers.

As one of the first leading banking brands in Sri Lanka to support an exclusive pickleball tournament, Seylan Cards has further strengthened its presence within the lifestyle and fitness space while reinforcing its promise of being the essential card for everyday experiences and rewards.

Through initiatives such as the Pickleball Slam, Seylan Cards continues to create meaningful engagement opportunities for existing and potential Cardholders, offering access to experiences that complement and enhance their lifestyles.

The Parliamentary Committee on Public Finance (CoPF) has approved a Resolution under the Customs Ordinance and two Orders under the Sri Lanka Export Development Act, paving the way for the implementation of the Government’s National Tariff Policy and a comprehensive overhaul of the country’s import tariff structure.

The approvals were granted at a meeting chaired by CoPF Chairman MP Dr. Harsha de Silva, which considered the Resolution published in Extraordinary Gazette No. 2478/03 under the Customs Ordinance and Orders published in Extraordinary Gazette Nos. 2478/04 and 2479/38 under the Sri Lanka Export Development Act.

The Gazette Notifications are scheduled to be debated in Parliament today before being submitted for approval.

Officials from the Finance Ministry, Sri Lanka Customs, and the Export Development Board (EDB) told the Committee that the measures give effect to the 2026 Budget proposal to introduce a National Tariff Policy by restructuring Customs import duty rates from the existing 0%, 15%, and 20% bands into a four-tier structure of 0%, 10%, 20%, and 30%, with effect from 1 April 2026.

Officials said the reforms extend beyond changes to import duty rates and represent the first phase of a long-term tariff policy aimed at creating a more scientific and predictable trade regime capable of integrating Sri Lanka more effectively into global supply chains.

Under the new framework, imports will be classified according to the UN Broad Economic Categories (BEC Revision 5), requiring the reclassification of numerous Harmonised System (HS) tariff codes into four principal categories: capital goods, intermediate goods, sensitive intermediate goods, and consumer goods.

The Committee was informed that the policy seeks to balance the protection of domestic industries with revenue stability while improving Sri Lanka’s competitiveness as a manufacturing and export destination.

Officials also revealed that the effective import tax on ceramic tiles, currently estimated at around 85% to 90%, will be reduced in stages to 20% by 2029 as part of measures to lower construction costs and encourage investment in housing and infrastructure.

The Government also plans to introduce new national tariff subcategories in response to requests from domestic industries, while gradually phasing out para-tariffs, including the CESS and the Ports and Airports Levy (PAL), by 2029 in favour of a simpler tariff regime.

The CoPF advised officials to develop measures to mitigate any adverse effects arising from tariff liberalisation.

According to officials, the reforms are expected to support the EDB’s target of doubling Sri Lanka’s export earnings from $ 18 billion to $ 36 billion over the next five years while strengthening the country’s integration into global value chains, particularly in electronics, rubber products, pharmaceuticals, and information technology.

The Committee also expressed concern over delays in maintaining trade statistics, with Dr. de Silva noting that the Department of Trade and Investment Policy’s trade database had not been updated since 2021. The Committee instructed officials to update all trade data and related information required for evidence-based policymaking within one week.

The meeting was attended by Deputy Ministers Chathuranga Abeysinghe and Dr. Kaushalya Ariyarathna, along with MPs Ravi Karunanayake, Harshana Rajakaruna, and Lakmali Hemachandra.

Sri Lankans understand that memorable food is rarely defined by ingredients alone. It comes from family traditions, carefully guarded recipes, patient preparation and the stories shared around the table. A good meal can carry memories of home, place and people, even when the cuisine has travelled across borders.

This same idea sits at the heart of Charcoal Tandoor Fire Grill in Colombo, where the menu invites diners to discover the histories, cultures and culinary traditions behind each dish.

Much of Charcoal’s culinary identity draws from Lucknow, the historic centre of Awadhi cuisine. The restaurant’s tandoor chefs bring with them knowledge passed down through generations, particularly in the areas of spice blending, marination and charcoal cooking.

The Kakori Kebab reflects the refinement associated with the royal kitchens of Awadh. Legend holds that it was created for an ageing Nawab who loved mutton but could no longer chew tougher cuts. His chefs developed a delicately spiced kebab with an exceptionally soft texture. At Charcoal, it is served with Ulta Tawa Paratha, onions and condiments, allowing guests to enjoy it in the traditional style.

The Galouti Kebab carries a similar story. Its name refers to its melt-in-the-mouth consistency, achieved through carefully prepared meat and a balanced combination of spices. Served on a lightly sweet paratha, it brings together richness, fragrance and texture in a way that will feel familiar to Sri Lankan diners who appreciate the careful layering of spice.

History also shapes Sikandar Ki Raan, a centrepiece inspired by Alexander the Great and the meeting of Persian and Indian influences. The whole leg of lamb is slowly braised before being finished in the tandoor, creating a dish designed to be placed at the centre of the table and shared.

This sense of communal dining has a natural connection with Sri Lankan food culture, where generous dishes, conversation and hospitality are often inseparable.

The Lahori Seekh Kebab draws from Lahore’s long tradition of charcoal grilling, while Murgh Angaar demonstrates the precision behind a seemingly simple chicken dish. Its double-marination process uses onion juice, mace and carefully measured spices to build tenderness and flavour before the meat reaches the fire.

Even the Dal Charcoal reflects this commitment to patience. Its preparation begins almost two days before service. The lentils are soaked, seasoned, sealed in a vessel and cooked overnight in the tandoor before being finished with butter. The result is smoky, velvety and comforting.

Charcoal’s appeal lies in the way it allows each dish to retain its cultural identity while presenting it with contemporary elegance. For Colombo’s diners, it offers a reminder of something Sri Lankans have always known: food tastes richer when its story is brought to the table.

The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) together with the Colombo Stock Exchange (CSE) rolled out a multi-pronged initiative to power the Small and Medium-sized Enterprises (SME) sector on Monday, 6 July, launching the SME Creditworthiness Rating Framework, the SME Connect Awards, and the inaugural issue of The Entrepreneur magazine.

At a press conference held at the Institute’s head office in Colombo 7, CA Sri Lanka also unveiled the SME Connect logo, the visual identity for the Institute’s broader SME initiatives.

The press conference was presided by CA Sri Lanka President Tishan Subasinghe, CA SME Connect Committee Vice President and Chairperson Anoji de Silva, Alternate Chairperson Saman Srilal, Members of the Council, CEO Lakmali Priyangika, and CSE CEO Rajeeva Bandaranaike.

The SME Creditworthiness Rating Framework was developed by CA Sri Lanka in response to a formal request from the Department of Development Finance of the Finance Ministry in December 2024, which called for a standardised, scalable credit assessment mechanism tailored to Sri Lankan SMEs.

The framework comprises two components: the Creditworthiness Rating System, a structured model evaluating SMEs on financial performance, governance, and operational indicators to enable standardised credit profiles for lenders and investors; and the Application Guidelines, which set out eligibility criteria, documentation requirements, and the assessment process. Together, they are designed to provide financial institutions with a consistent risk assessment tool while helping SMEs understand and improve their financial standing. The Framework’s scalable design allows both micro-enterprises and high-growth start-ups to benefit.

Speaking at the launch, Tishan Subasinghe said SMEs are the lifeblood of Sri Lanka’s economy but that their growth has been stifled by a lack of transparent, structured access to finance.

‘Today’s initiatives are designed to reshape the future of Sri Lanka’s SME sector. They will enable businesses to strengthen their financial credentials, unlock greater access to capital, inspire investor confidence, and build the governance and financial discipline needed to graduate from privately held enterprises to publicly listed companies,’ he said.

The SME Connect Awards will recognise SMEs that demonstrate exceptional governance, financial discipline, resilience, and sustainable growth, setting a benchmark for excellence while fostering a culture of accountability and professionalism across the sector.

Anoji de Silva, said the CA SME Connect Committee was established to build a meaningful bridge between the Institute and the SME sector, addressing long-standing challenges while creating new opportunities for growth. ‘This initiative addresses a long-standing gap in SME financing by establishing a standardised pathway to improved credit access and future participation in the capital markets. Beyond improving access to finance, it is designed to help high-potential SMEs strengthen their financial credibility, scale sustainably, and compete with confidence in regional and global markets,’ she said.

CA Sri Lanka will also conduct a series of capacity-building workshops in the coming months, offering practical guidance on credit applications, financial management, and investor readiness, while familiarising SMEs with the Framework and its application process.

The launch of The Entrepreneur magazine marks a further step forward, providing a platform to move beyond frameworks and awards into storytelling and engagement by sharing real entrepreneurial journeys and connecting more meaningfully with the SME community.

The Employees’ Trust Fund Board (ETFB) has made it mandatory for employers with 15 or more employees to submit Employees’ Trust Fund (ETF) contributions and monthly returns exclusively through electronic channels, as part of the Government’s digital transformation agenda.

The new requirement will take effect for ETF contributions relating to July 2026, which must be paid on or before 31 August 2026, the ETFB said.

The Board said the move is being implemented in accordance with the provisions of Extraordinary Gazette No. 2311/39 dated 22 December 2022, and is aligned with the Government’s Digital Economy Policy.

To support the transition, employers can make electronic payments through internet banking facilities provided by nine designated commercial banks.

Employers who do not maintain accounts with these designated banks can also settle ETF contributions through any other bank using the Direct Debit facility after registering for the service with their respective bank.

The ETFB stressed that it will no longer accept cash, cheque, or money order payments from employers with 15 or more employees once the new requirement comes into effect.

Similarly, printed half-yearly returns submitted by these employers will no longer be accepted, with all monthly returns required to be filed electronically.

While electronic submissions will not be compulsory for employers with fewer than 15 employees, the Board strongly encouraged them to adopt the digital system, citing its efficiency, security, and convenience.

The ETFB urged all employers to transition to the electronic platform to ensure the timely and accurate payment of ETF contributions and avoid surcharges arising from delayed payments.

Further information is available through the ETFB Head Office, regional offices, or its official website via www.etfb.lk.