Category: Daily Financial Times

The World Bank’s reclassification of Sri Lanka as an upper middle-income country is an important milestone in the economic recovery after 2022. Having lost this status in the aftermath of the unprecedented financial crisis, this development signals that the economy has regained a degree of stability after one of the darkest chapters in its post-independence history. It is undoubtedly a welcome development and an indication that difficult reforms and economic adjustments have begun to yield results.

Yet, while this achievement deserves recognition, it should also be approached with caution. The classification, which will remain valid until the end of June 2027, should not be mistaken for evidence that Sri Lanka’s economic challenges have been resolved. Rather, it should serve as a reminder that recovery is still a work in progress and that sustained structural reforms remain essential.

The World Bank’s income classifications are based on Gross National Income (GNI) per capita, a measure of the average income earned by a country’s residents. Unlike Gross Domestic Product (GDP), which captures the value of goods and services produced within a country’s borders, GNI also accounts for income earned by residents from overseas. This makes it a broader measure of national income than GDP and, in many respects, a better indicator of the income available to citizens.

However, GNI per capita, like any economic indicator, has its limitations. By focusing on averages, it can obscure significant disparities in income distribution and living standards. A rise in national income does not necessarily translate into improved prosperity for all citizens. Persistent inequalities, regional imbalances and uneven access to economic opportunities can undermine both political stability and long-term economic resilience. The events leading to the 2022 crisis demonstrated that headline economic figures can conceal underlying vulnerabilities until they become impossible to ignore.

The implications of Sri Lanka’s upgraded classification extend to determining to face reduced eligibility for concessional loans, grants and other forms of development assistance that are typically available to lower-income economies. While this reflects growing confidence in the country’s economic standing, it also means that future development will increasingly depend on the country’s own capacity to generate investment, expand exports and strengthen domestic productivity.

This shift places greater responsibility on policymakers. Sri Lanka must accelerate efforts to build a more competitive and diversified economy that is less dependent on favourable financing terms and preferential trade arrangements. Improving the ease of doing business, attracting high-quality investment, enhancing productivity, strengthening public finances and promoting innovation must remain central priorities. Equally important is ensuring that economic growth is inclusive, creating opportunities across all regions and social groups rather than benefiting only a select few.

The painful lessons of 2022 should not be forgotten simply because economic indicators have improved. The crisis exposed deep structural weaknesses in fiscal management, external debt sustainability and governance. Those shortcomings cannot be addressed through higher income classifications alone. Without prudent economic management and institutional reforms, gains achieved today can quickly be reversed tomorrow.

Sri Lanka’s return to upper middle-income status is therefore best viewed as a milestone rather than a destination. It reflects meaningful progress, but it is neither a guarantee of lasting prosperity nor an assurance against future crises. The country now has an opportunity to build a stronger, more resilient economy capable of sustaining growth without excessive reliance on external support.

That progress is less visible in the workplace. Women make up more than half the population, but only around a third of the labour force, and their representation narrows further as seniority rises. Presence does not carry through into leadership or decision-making in the same way.

This raises a more pressing question for organisations. The issue is not only whether women are present, but whether that presence translates into influence, progression, and authority. Female labour force participation remaining around 31.3%, despite high educational attainment and Sri Lanka’s strong human development indicators, brings that gap into sharper focus (Country Gender Equality Profile: Sri Lanka, 2026).

Representation rises, but power narrows

That imbalance is visible across national institutions and within organisations. Women now hold 9.8% of parliamentary seats. Local government representation has risen from around 2% to about 22%. Participation on listed company boards increased from about 8.4% in 2024 to around 30% in 2025. These are meaningful gains, particularly where policy direction or deliberate action has created room for change.

Yet in a country where women account for more than half the population, representation remains below parity across institutions, sectors, and levels of leadership. Inside organisations, it narrows further from about 40% at entry level to around 20% at senior management. Even in sectors with strong female participation, progression into decision-making remains limited, reflecting the distance between presence and influence.

Politics shows a similar pattern, with women more often present in portfolios associated with care, while finance, infrastructure, and civil engineering remain largely male-dominated. Representation has increased, but structural and cultural barriers continue to shape who progresses, where they progress, and how much authority they are able to hold.

When leadership is drawn from the same social, cultural, and professional profiles, the range of perspectives available to decision-makers narrows. Over time, this shapes how problems are defined, which risks are noticed, and whose potential is recognised early enough to be developed.

Social norms play a central role in this. Women are still more readily associated with care-oriented roles. Leadership in high-authority domains is still treated as requiring a different profile. Those assumptions quietly shape nominations, promotions, access to mentors, and the assignments that build credibility. A workforce that does not reflect the society around it is less equipped to identify blind spots, understand shifting expectations, or solve with relevance.

Sri Lanka performs among the poorest in the region on gender norms, despite leading on female literacy and maternal health. The gap between what this country’s women are capable of and what its institutions are drawing on, constrains how well those institutions can think, compete, and grow.

Broader representation strengthens creativity, judgment, and problem-solving because it expands what institutions are able to see and solve for.

Representation changes institutions most clearly when it reaches decision-making spaces. Workplace needs that were previously invisible become visible when people with lived experience are part of leadership and management.

The introduction of lactation rooms at MAS is one such example. The need had existed for years. It became possible to act on once women in leadership could identify the gap, articulate its importance, and push it into practice. This is where representation begins to alter the institution itself – in what organisations notice, what they consider urgent, and what they are prepared to solve.

When those shaping decisions understand the realities being addressed, change becomes more grounded and more likely to endure. The question for any organisation is simple: are the people making decisions the same people who understand what those decisions affect?

For that impact to last, inclusion has to move from individual responses to institutional discipline. Progress depends on organisations willing to keep listening, keep learning, and keep correcting systems as new barriers become visible. Policies need to be tested in practice. Leaders need to revisit assumptions. Institutions need to hold themselves accountable for whether representation is translating into real influence.

It took over a hundred years of global advocacy and activism for women to gain the right to vote. Change that looks obvious in retrospect is rarely fast. Organisations will make mistakes, and the work will need adjustment as social expectations, employee needs, and business realities change.

Diversity, Equity and Inclusion has become contested language in a number of markets. Political backlash may change the terminology organisations use but it does not change the underlying business need to build workplaces where people can contribute, progress, and lead without being held back by structural barriers. The real measure is whether companies stay with this long enough for representation to shift from presence in the workforce to power within the institution.

For business leaders, the next step is to examine where influence actually sits inside the organisation. It is possible to have diversity in the workforce while authority remains concentrated within familiar networks and familiar assumptions about who is ready to lead. That is where the real test begins. Organisations need to look beyond headcount and ask whether people from different backgrounds are being given access to senior guidance, operational responsibility, and the visibility that builds leadership credibility over time. When that pathway is weak, representation remains fragile.

The responsibility for leaders is therefore to close the distance between who is present in the organisation and who has the authority to shape its future.

Listen to the full episode on ‘Conversations That Count 2.0’ podcast on DEI here – https://masholdings.com/podcast-category/conversations-that-count-2-0/?episode=10553

(Esther Hoole is a Strategic Partnership and Coordination Analyst at UN Women Sri Lanka and Surein Wijeyeratne is the Director – Corporate Communications at MAS Holdings.)

Pan Asia Bank yet again reinforces its position as one of Sri Lanka’s most awarded and innovative financial institutions by securing multiple international honours at the prestigious 15th ACEF Global Customer Engagement Awards 2026, including a coveted Grand Prix recognition for excellence in customer engagement.

Held annually, the ACEF Global Customer Engagement Awards recognise outstanding brands and organisations across the world for innovation, creativity and effectiveness in customer engagement strategies. Pan Asia Bank emerged among the top winners at this year’s awards, demonstrating excellence across digital engagement, social impact and integrated campaign execution, securing four Gold Awards across highly competitive categories.

The Pan Asia Bank Corporate Campaign won Gold for Best Use of Television + Digital Synergy as well as Gold for Best Use of Data or Insights in TV Campaign Planning, highlighting the Bank’s ability to combine strategic insight with impactful storytelling and integrated customer communication.

The Bank’s sustainability-focused digital initiative, One Click Thousand Trees, received Gold under the category of Best Cause / Social Awareness Campaign on Social Media, underscores its efforts to connect digital engagement with environmental action and community impact.

Further strengthening its digital leadership credentials, Pan Asia Bank’s Digital Customer On-Boarding initiative won Gold for Best Social Media Campaign for Customer Service / Response Management, reflecting the Bank’s focus on delivering seamless, technology-driven customer experiences while promoting digital accessibility and convenience.

The Bank’s digital onboarding platform, which enables customers to open accounts within minutes through a completely paperless process, has transformed the onboarding experience while improving digital literacy and customer empowerment. Complementing this, the Bank has continued to expand API-driven services, digital payment solutions and customer-centric engagement campaigns that create more seamless interactions across every touchpoint.

Head of Marketing Sirimevan Senevirathne said: ‘These awards reflect the strength of a marketing approach that is rooted in understanding our customers and creating relevant, impactful experiences across every stage of their journey. We are particularly encouraged to see our work recognised across multiple categories, as it validates our commitment to combining creativity, insight and innovation to deliver campaigns that not only drive business outcomes but also create meaningful value for the communities we serve.’

Director/CEO Naleen Edirisinghe said: ‘Winning multiple Gold Awards alongside the Grand Prix recognition is an extremely proud moment for Pan Asia Bank. These awards reflect the depth of our commitment towards creating meaningful, engaging and future-ready customer experiences. The Grand Prix recognition especially validates the progress we have made in placing customer engagement at the heart of our transformation journey.’

Choosing the optimal inflation target is a classic problem in monetary economics, lacking robust research findings to determine the most desirable number. Central banks in many advanced countries have chosen a common inflation target close to 2%. Following this trend, several analysts are of the view that an inflation target around 2% is most suitable for Sri Lanka, instead of the present target of 5% with a margin of 2% on either side.

The myth ‘Lowering the Central Bank’s inflation target from 5% to 2% is desirable for economic stability’ was demystified in last week’s column on the premise that the present flexible inflation targeting at 5% provides leeway to the Central Bank of Sri Lanka (CBSL) to dampen economic downturns and to factor in supply-side inflationary pressures. The case against a lower inflation target is elaborated further in this column, considering other factors.

Zero lower bound interest rates

A primary reason for choosing a higher inflation target is to overcome the Zero Lower Bound (ZLB) problem in monetary policy arising from the fact that nominal interest rates cannot be negative. The real interest rate, which is the actual cost of borrowing adjusted for inflation, equals the nominal interest rate minus the inflation rate. As per the Fisher Effect, the nominal interest rate is determined by adding the expected inflation rate to the equilibrium real interest rate. Thus, a lower inflation target shrinks the average baseline nominal interest rate. In order to stimulate GDP growth during an economic downturn, the central bank has only a little room to cut interest rates before hitting zero. A low inflation target triggers a Keynesian-type liquidity trap where monetary policy becomes ineffective.

Deflationary spiral

An extremely low inflation target creates an ‘inflation target floor’ by pushing interest rates to the ZLB and inflation into negative territory. It results in a rise in the real interest rate, causing deflationary biases and economic stagnation. High real interest rates make financing prohibitively expensive and thereby suppress borrowing, investment, and consumer spending.

In an environment of declining prices, consumers postpone their purchases of durable goods, anticipating further price drops in the future. The decline in aggregate demand forces businesses to reduce prices further, setting off a vicious cycle of low production, job losses, and wage stagnation. In this context, a moderate inflation targeting at 5% is beneficial for economic growth.

Structural factors affecting productivity growth

Low inflation targeting is often cited as a prerequisite to productivity growth by the proponents. They argue that low inflation reduces the volatility of interest rates and exchange rates, and market uncertainties. Such conditions prevent misallocation of resources and encourage companies to engage in long-term investments, focusing on efficiency and innovation rather than short-term speculative trading. Thus, low inflation helps to improve productivity growth, according to the critics.

However, inflation in a developing country like Sri Lanka is subject to internal and external shocks such as domestic food supply disruptions due to weather conditions and globally determined oil price fluctuations. Inflation due to such factors is beyond the control of the CBSL, and therefore, a low inflation target does not necessarily ensure the price stability required to improve productivity.

CBSL requires a certain degree of flexibility in conducting monetary policy to provide the necessary monetary stimulus to prevent economic downturns. Lowering the inflation target to 2%, as recommended by the critics, will restrict such policy space, resulting in a deceleration of GDP growth. Hence, there is no justification for lowering the inflation target, as suggested

There are many factors other than price stability that adversely affect productivity in developing countries against the backdrop of fast-growing knowledge-based economies. They include political instability, inconsistent economic policies, labour unrest, human capital shortages, infrastructure bottlenecks, low research and development (R and D), and technology and innovation handicaps.

In the case of Sri Lanka, the old-style manufacturing ventures dependent on cheap labour and backward technology retard GDP growth. The country’s R and D expenditure is as low as 0.1% of GDP, compared with 1.0% in Malaysia, 1.2% in Thailand, and 2.2% in Singapore. While low inflation is a necessary condition for GDP growth, that itself is insufficient to accelerate growth. Science, Technology, and Innovation (STI) needs to be prioritised in policy agendas to shift the economy towards a technology and innovation-driven growth path from the present outmoded factor-driven growth.

Tolerable inflation is high for developing economies

Given the resource constraints, developing countries are compelled to tolerate higher inflation due to production cost escalations arising from excess demand for labour and raw materials during initial phases of development. Accordingly, the inflation threshold of 7% to 11% is typically considered a tolerable inflation zone to support GDP growth in emerging and developing countries. In contrast, the advanced countries aim for lower inflation thresholds of 1% to 3%, as technology and innovation enable them to produce goods and services more efficiently at low cost.

For developing countries, the beneficial inflation zone falls within the threshold of 1% to 7% for fostering investment and growth. The detrimental inflation zone, which encounters inflation exceeding 11%, is harmful to GDP growth.

Trade-off between inflation and growth

The trade-off between inflation and GDP growth is a macroeconomic dilemma where policies designed for low inflation often dampen growth, and vice versa. In the short run, there is a positive correlation between inflation and growth. For instance, an interest rate cut by the central bank could stimulate growth. Eventually, such growth momentum fades away with rising inflation due to a surge in aggregate demand. Hence, there is no significant trade-off between inflation and GDP growth in the long run.

Dismal growth prospects

While Sri Lanka’s economy has shown significant stability signs following the economic reforms adopted in 2023, its growth potential is severely constrained by export setbacks, surging import outlays, slow productivity growth, delayed structural reforms, and macroeconomic volatility. According to official sources, the GDP is projected to grow by only 3.0% in 2026, 3.2% in 2027, and 3.1% in 2028.

The IMF, in its latest Country Report for Sri Lanka, stresses that broader reforms are needed to unlock Sri Lanka’s growth potential. The areas to be prioritised include liberalising trade, improving the investment climate, enhancing SOE efficiency, reducing labour market rigidities, mitigating climate vulnerabilities, and improving the targeting and coverage of social safety nets.

In this context, the CBSL requires a certain degree of flexibility in conducting monetary policy to provide the necessary monetary stimulus to prevent economic downturns. Lowering the inflation target to 2%, as recommended by the critics, will restrict such policy space, resulting in a deceleration of GDP growth. Hence, there is no justification for lowering the inflation target, as suggested by them.

(The author, Emeritus Professor in Economics at the Open University of Sri Lanka, is the President of the Sri Lanka Economic Association and the Honorary Deputy Chairman of the Gamani Corea Foundation)

Opposition Leader Sajith Premadasa has held the Government responsible for the deadly violence at Negombo Prison, saying the incident reflects a broader collapse of discipline and efficiency within the prison administration.

Issuing a special statement yesterday, Premadasa said the loss of life and injuries were the result of institutional failure, arguing that the authorities had failed in their duty to maintain order within correctional facilities.

He said at least 25 people had died in the violence and stressed that the Government must accept full responsibility for the tragedy.

Premadasa also pointed to earlier remarks made by the current President during his time in the Opposition, when he had argued that Governments should be held accountable if deaths occur inside prisons. He said that same standard should now be applied to the present administration.

The Opposition Leader further claimed that the Government’s promise of ‘system change’ had not materialised, saying the incident exposed serious weaknesses in governance, law enforcement, and prison management.

He questioned whether the administration was capable of ensuring both effective law and order and humane treatment within the prison system, adding that the public deserved clear answers on how the situation escalated to such a scale.

Premadasa called for an independent, impartial, and transparent investigation into the incident, insisting that it should not be handled by a Government-appointed committee tasked with producing a favourable report.

He also urged the Government to set aside what he described as political arrogance and focus on urgent national priorities, including security and prison reform.

Former Royal College and current Havelock Sports Club player Musheen Faleel has announced his retirement from club rugby, bringing the curtain down on a distinguished 15-year club career after serving several of Sri Lanka’s leading rugby clubs with dedication and consistency.

Faleel represented Royal College from 2008 to 2010 and quickly established himself as one of the country’s promising young forwards. His impressive school performances earned him selection to the Sri Lanka Under-19 team, captained by Shenal Dias, for the tour of Thailand.

He began his club career with CR and FC in 2011 before moving to Police Sports Club in 2015. A successful spell with Navy Sports Club followed from 2018 to 2022, after which he joined Havelock Sports Club, where he remained until the end of the 2026 season. Under the guidance of head coach Saliya Kumara, Faleel developed into one of the most reliable players in the domestic game, admired for his physicality, work rate, and consistency.

Despite producing outstanding performances year after year and proving himself against the country’s best players, national XV-a-side selection continued to elude him, making him one of the most unfortunate omissions of his generation. Nevertheless, his contribution to Sri Lankan club rugby remains immense, and he retires with the respect of teammates, coaches, opponents, and supporters alike. (SJ)

The Employers’ Federation of Ceylon (EFC) recently concluded its 97th Annual General Meeting at the BMICH.

At this general meeting, the Board of Trustees and Council Members representing different employer groups were appointed for the financial year 2026/27.

Outgoing Chairman Dinesh Weerakkody expressed his appreciation to the Council, members, and the EFC Secretariat for the invaluable support extended to him throughout his tenure.

Commercial Bank Managing Director/CEO Sanath Manatunge was appointed the new EFC Chairman, while Lanka Aluminium Industries PLC Group Chairman/Managing Director Dinal Peiris was appointed Vice Chairman.

In his inaugural address, the new Chairman, while underlining the significance of the Federation, stated that, as the National Employers’ Organisation, the EFC will continue to contribute to labour law reforms that support future-ready businesses while driving responsible business initiatives.

Manatunge, who counts 36 years of experience having held very senior positions in the financial sector, presently serves on the Boards of Commercial Development Company PLC, and Commercial Bank of Maldives Ltd., as the Deputy Chairman. He is also the Chairman of the Sri Lanka Banks’ Association. Following his appointment as the new EFC Chair, the senior professional further emphasised the importance of engaging with the tripartite stakeholders to collaboratively advance shared objectives and strengthen Sri Lanka’s employment landscape.

Manatunge also represents key industry interests as a Member of the UNICEF Business Council, The Ceylon Chamber of Commerce, and the World Bank Group’s Private Sector Advisory Council. His regulatory and advisory contributions include serving as an Ex-Officio Member of the Stakeholder Engagement Committee of the Central Bank of Sri Lanka (CBSL), as well as a Member of the Project Steering Committee (PSC) for the CBSL’s Fraud Risk Management (FRM) System.

Peiris is an engineer with nearly 40 years of experience in the senior management across a wide range of industries, including aluminium, steel, plastics and packaging, textiles and apparel, and timber and agribusinesses. He is also the representative and co-partner of the Comcraft Group and has a keen interest in productivity improvement and human resources management.

Since its establishment in 1929, the EFC, as the national employers’ organisation and the constituent of the International Labour Organisation in Sri Lanka, has consistently pursued its vision to promote social harmony through productive employment.

Now into its 97th year, the EFC represents a diverse set of industries with over 800,000 employees in Sri Lanka. The organisation is well connected with prominent trade chambers and associations locally and internationally, including the International Organisation for Employers.

The Securities and Exchange Commission of Sri Lanka (SEC) has invited eligible institutions to apply for licences to operate as credit rating agencies, seeking to expand the country’s market intermediary framework and strengthen the capital market’s credit assessment infrastructure.

The invitation, issued under Section 188 of the Securities and Exchange Commission of Sri Lanka Act, No. 19 of 2021, defines a credit rating agency as a body corporate engaged in assessing the creditworthiness of issuers and securities and providing independent credit opinions on issuers or specific issues of securities.

Sri Lanka currently has two SEC-licenced credit rating agencies, Fitch Ratings Lanka Ltd., and Lanka Rating Agency Ltd., (LRA), which provide ratings for banks, finance companies, corporates, and debt securities in the domestic market.

According to the SEC, applicants must be capable of providing independent, objective, and credible assessments of the creditworthiness of issuers and securities to support informed investment decisions, enhance market transparency, and strengthen risk management and market discipline.

The regulator said prospective applicants must either be promoted by a foreign credit rating agency that is duly licenced or registered in its home jurisdiction with a minimum of five years’ experience in rating entities or securities, or by a bank licenced by the CBSL under the Banking Act that has at least five years’ experience in rating entities or securities.

Applicants must also comply with all applicable eligibility, financial, governance, operational, and regulatory requirements stipulated under the SEC Act, No. 19 of 2021, as well as the SEC’s Rules and Directives governing credit rating agencies.

The SEC said the initiative reflects the recognised need for additional credit rating agencies in Sri Lanka and forms part of its licencing framework for market intermediaries under the SEC Act.

Applications will be accepted until 5 October 2026, with application forms available through the SEC’s website.

UN Global Compact Network Sri Lanka hosted CATALYZE 2026: Environment, convening

business leaders, sustainability practitioners, policymakers, development partners, and technical experts to explore the environmental priorities shaping the future of sustainable business and economic growth.

Explored across two impactful days, CATALYZE 2026 explored both the social and environmental dimensions of sustainable business.

In alignment with the UN Global Compact’s 2026-2030 Strategy and its pillars of ‘Equip, Catalyze, and Advance,’CATALYZE: Social held on 24 June 2026 under the theme ‘From Commitment to Collective Impact,’ focused on the people-centric approach to sustainability, while CATALYZE: Environment, examined under the theme ‘Growth Against the Grain’, the increasingly interconnected sustainability challenges corporates face, by guiding the participants through the critical pillars of environmental sustainability, from climate action and nature stewardship to circularity, energy transition, resilience, and strategic communication.

In his opening remarks, United Nations Resident Coordinator’s Office Sri Lanka Partnerships and Development Finance Specialist Azam Bakeer Markar emphasised the urgency of accelerating business action, stating, ‘The question is no longer whether we need to act-it is how fast we are willing to move. And how bold we are willing to be.’

The keynote address by Accelerating Industries Climate Response Sri Lanka project National Finance Expert Kapila Subasinghe, further augmented the forum by identifying the challenges and way forward on unlocking finance for industrial decarbonisation and the private sector’s role in mobilising investment and advancing Sri Lanka’s transition to a more sustainable and competitive economy.

‘The Corporate Climate Action Lab’, facilitated by Deloitte South Asia Climate Change and Sustainability Director Aditya Parchure, and Deloitte South Asia Climate Change

and Sustainability Associate Director Piyush Yadav, explored pathways from climate ambition to implementation, including net-zero strategies, science-based target setting, sector-specific decarbonisation approaches, and opportunities for cross-sector collaboration.

‘A Virtual Plenary’, delivered by Nature-related Financial Disclosures (TNFD) Taskforce Global Lead Tajeshwar Goyal, explored how businesses can identify, assess and manage nature-related risks while integrating nature into business strategy, risk management and long-term value creation.

Extending a systems approach, ‘Rewire the Economy Masterclass’, led by Dr. Mayuri Wijesundara and the team from Anvarta Ltd., explored circular economy principles through a game-based simulation, enabling participants to develop circular transition roadmaps while fostering systems thinking and collaborative problem-solving.

Complementing these discussions, ‘Energy Transition Strategy Lab’, facilitated by Piyumali Jayasundara of Control Union Ltd., explored pathways for transitioning to low-carbon energy systems, including strategies to strengthen energy security and identify sector-specific decarbonisation opportunities faced in today’s world.

Recognising that climate leadership must also strengthen resilience, ‘Climate Adaptation and Disaster Resilience Scenario Analysis’, facilitated by Gethmi Adikari and Raeesha Ikram along with the team from A-PAD Sri Lanka, explored strategies for enhancing organisational preparedness, business continuity and resilience in response to increasing climate-related risks.

Bringing the day’s themes together, ‘Strategic Storytelling Masterclass’, led by Arosha Perera, explored how organisations can communicate sustainability commitments and impact through compelling narratives that build trust, inspire action, and strengthen stakeholder confidence.

The extended technical sessions at CATALYZE 2026: Environment were delivered in strategic partnership with Deloitte and Anvarta PTY Ltd, in main partnership with Sampath Bank PLC. Session partners contributing technical expertise across decarbonisation, circularity, energy transition, climate adaptation, and resilience included INSEE Ecocycle Ltd., Hayleys Mobility Ltd., Control Union Ltd., and the Asia Pacific Alliance for Disaster Management (A-PAD) Sri Lanka.

The convening was further supported by the Patrons of UN Global Compact Network Sri Lanka’s Working Groups: the Climate Emergency Task Force (Talawakelle Tea Estates PLC and Hirdaramani Group); the Water and Ocean Stewardship Working Group (Kelani Valley Plantations PLC, Dilmah Ceylon Tea Company PLC, Commercial Bank of Ceylon PLC, and Sampath Bank PLC); and the Sustainable Supply Chain and SME Working Group (Dilmah Ceylon Tea Company PLC, Teejay Lanka PLC, and Hatton National

Kandy Customs SC’s Tenusha Nimsara (4/19) against Police SC, Moors SC’s Sandaru Malshan (5/59) spun out Bloomfield for 209, Tharuksha Ashel 5/28 for BRC against Colts, Himaru Deshan took 5/73 for Tamil Union against NCC, Senuka Dangamuwa – 5/130 for United Southern SC

On a day when bowlers held sway, Hasitha Suranga’s knock of 95 for Galle CC against Moratuwa SC at the Moratuwa Stadium stood as the highest individual score in the Under23 Inter-Club 2-day tournament matches that commenced yesterday.

Suranga’s innings scored off 136 balls (6 fours, 4 sixes) helped Galle CC to a total of 240. Moratuwa SC’s opening bowler Prabash Nirwan took 5/52. By stumps Moratuwa SC had replied strongly with 101-2 to trail by 139 runs with eight wickets in hand.

Left-arm spinner Tenusha Nimsara took 4/19 off 11.2 overs to dismiss Police SC for 140 at Police Park. By the close Kandy Customs SC had already gained first innings points scoring 145-3 with opener Helith Edirisinghe contributing with a half-century (51 off 75 balls, 4 fours, 2 sixes).

Fifties from Aveesha Samash (73 off 99 balls, 8 fours), skipper Hiruna Gallage (66 off 100 balls, 6 fours) and Enosh Peterson (83 off 158 balls, 7 fours) enabled Badureliya CC to run up the highest total for the day – 310-6 against United Southern SC at Salawa Army grounds, Kosgama. Former Mahinda College, Galle right-arm leg-spinner Senuka Dangamuwa five of the wickets conceding 130 runs off 39 overs.

Bloomfield and Moors SC were involved in a close tussle for first innings points at Moors grounds. After outstanding young off-spinner Sandaru Malshan had taken 5/59 to dismiss Bloomfield for 209, Moors SC in reply lost three wickets for 98 by the close to trail by 111 runs with seven wickets in hand. Malshan distinguished himself as an exceptional spinner by taking all ten wickets in an innings for two runs representing Devapathiraja College, Rathgama.

Havelock Park neighbours Colts and BRC were also fighting hard to gain first innings points at the BRC grounds. Colts shot out for 126 by spinners Tharuksha Ashel (5/28) and Sithuka Gunawardena (4/59) fought back strongly to capture seven BRC wickets for 104 by the close. BRC requires a further 23 runs to gain the first innings lead, while Colts need three wickets.

Negombo CC came up with a strong batting performance to end the first day on 291-9 against SSC at Air Force grounds, Katunayake. Opener Vishal Rukshan contributed 73 off 101 balls (10 fours, 1 six) at the top of the order sharing a 104-run stand with Thathsara Eshan (40) and, Shafni Deen, formerly from Loyola College, Kochchikade, a crucial 66 off 135 balls (7 fours, 1 six) batting at number eight.

NCC and Tamil Union were also locked in a battle for first innings points at the P Sara Oval. Vihas Thewmika (4/85) and Himaru Deshan (5/73) spun NCC out for 229 and by stumps Tamil Union closed on 62-1 to trail by 167 runs. Shaveen Perera top scored for NCC with 53 (126 balls, 2 fours).

Ashan Sudarshana (56 off 74 balls, 5 fours, 2 sixes) and Dimantha Arusha (69 off 63 balls, 11 fours) struck fifties apiece to help Army SC total 263 against Kurunegala SC who finished the day on 37-1 at Army grounds, Panagoda.

A 125-run stand between Sumalka Fernando (83 off 201 balls, 7 fours) and Yuneth Seneviratne (67 off 132 balls, 8 fours) and a rapid half-century off 42 balls (4 fours, 3 sixes) from opener Uvindu Perera saw Navy SC end the day 249 all out against Kurunegala YCC at Welisara. All the matches will continue on the second day today. – [ST]