Chandana Guniyangoda assumes duties as new Chairman of People’s Bank

Chandana Guniyangoda assumed duties as the new Chairman of People’s Bank yesterday at a ceremony held at the bank’s head office. The occasion was attended by the former Chairman Prof. Narada Fernando, Board members, General Manager/CEO and members of the bank’s corporate management.

The bank said Guniyangoda’s appointment marks a significant milestone in Sri Lanka’s State-owned banking sector. He becomes the first Chairman of a state-owned licensed commercial bank to be appointed as an Independent Non-Executive Director under the strengthened governance framework introduced following Sri Lanka’s IMF-supported reform program.

The framework, developed through reforms undertaken in consultation with the IMF and World Bank and reinforced by the Central Bank of Sri Lanka’s Banking Act Directions No. 05 of 2024 on Corporate Governance for Licensed Banks, introduced more rigorous criteria for determining Director independence and strengthened the role of independent oversight at Board level.

This milestone therefore represents an important step in strengthening public confidence in the governance of People’s Bank and in ensuring that the bank continues to be managed in the best interests of its customers, stakeholders and the country.

A distinguished finance professional with over 28 years of experience, including 19 years in commercial banking, Guniyangoda brings extensive expertise in finance, strategic planning, business transformation, process re-engineering, cost optimisation, human resource management, asset and liability management, risk management and regulatory reporting.

Guniyangoda is a Fellow of both the Institute of Chartered Accountants of Sri Lanka (FCA) and the Institute of Certified Management Accountants of Sri Lanka (FCMA). His academic qualifications include a Master of Business Administration in Banking and Finance (MBA) from the Postgraduate Institute of Management (PIM), University of Sri Jayewardenepura; a Master of Arts in Financial Economics (MAFE) from the University of Colombo; and a B.Sc. in Business Administration (Special) from the University of Sri Jayewardenepura. He also holds an Advanced Certificate in Banking and Finance (ACBF) from the Institute of Bankers and IFS, London.

Throughout his career, Guniyangoda has held a range of senior strategic and managerial positions across the banking and corporate sectors. His professional experience includes serving as Assistant Vice President – Finance, Strategic Planning and Business Support at NDB Bank PLC and as Director of Development Holdings Ltd., a joint venture between NDB Bank and the Export Development Board.

Prior to this, he served at Sampath Bank PLC as an ALCO Officer and Senior Executive – Finance and Planning. He commenced his professional career as a Trainee Graduate at Aitken Spence PLC. More recently, he provided specialist expertise in finance and administration in the restructuring of institutional frameworks within the agriculture and plantation sectors under the Agriculture Modernisation Project of the World Bank and the Ministry of Agriculture.

In addition to his extensive corporate and banking experience, Guniyangoda currently serves as Independent Chairman of People’s Insurance PLC, Group Chief Financial Officer of MG Group of Companies, a Board Member of New Vithanakande Tea Factory Ltd., and Non-Executive Chairman of CCPI Management Holdings Ltd. He is also an Honorary Member of the Board of Management of the CA Sri Lanka SAB Campus.

With his extensive experience in banking, finance, corporate governance and strategic management, Guniyangoda assumes the Chairmanship of People’s Bank with a wealth of knowledge and expertise, further strengthening the Bank’s leadership as it continues to support Sri Lanka’s economic development and serve millions of customers across the country.

Cool Planet joins Dialog Pay merchant ecosystem

Dialog Axiata PLC announced its partnership with Cool Planet, enabling customers to make secure LankaQR payments using Dialog Pay across its network of over 14 outlets. The partnership introduces a more rewarding digital payment experience at one of Sri Lanka’s leading fashion and lifestyle retailers, giving customers complimentary Dialog data on eligible LankaQR transactions.

Customers can now use Dialog Pay to purchase a wide range of fashion apparel, footwear, accessories, beauty products, toys, homeware, gifts and lifestyle essentials across Cool Planet stores. The partnership provides customers with a secure and convenient way to pay while making family shopping even more rewarding.

Cool Planet Marketing Manager Aqaam Wahabdeen said: ‘Cool Planet has always been about making fashion and lifestyle shopping effortless, rewarding and accessible for families across Sri Lanka. Everything we do is built around our customers from the ranges we curate in our stores to the experience we create every time they visit us. Offering Dialog Pay is a natural extension of that promise: it gives our shoppers one more secure and convenient way to pay, with the added benefit of complimentary data on eligible LankaQR transactions. We’re proud that a brand our customers already trust for choice and value can now reward them even more, every time they shop with us.’

Dialog Pay, available through the Dialog Pay App and the MyDialog App, brings together connectivity, digital payments and financial services within a single ecosystem, supporting Dialog’s vision of making digital payments simpler, more accessible and more rewarding for every Sri Lankan. Customers can conveniently activate Dialog Pay using their eZ Cash account or by linking their preferred bank account, enabling them to make secure LankaQR payments, transfer funds, access their digital wallet, open savings accounts and fixed deposits, and apply for loans powered by Dialog Finance. Accepted across more than 100,000 retail outlets nationwide, Dialog Pay rewards eligible QR payments with complimentary Dialog data, encouraging greater everyday adoption while supporting Sri Lanka’s continued transition towards a more digitally connected and cash-light economy.

Colombo Marathon 2026 earns World Athletics recognition ahead of Sept. race

World Rankings Competition status places Colombo Marathon on the World Athletics Global Calendar, marking a significant milestone for Sri Lankan athletics as preparations advance

Organised by the Ministry of Youth Affairs and Sports, the Colombo Marathon 2026 has achieved a significant milestone for Sri Lankan athletics, with its application validated by World Athletics and the competition registered for publication on the World Athletics Global Calendar as a World Rankings Competition.

The Colombo Marathon 2026 will take place on 13 September 2026 at Baladaksha Mawatha, with the race starting at 6.00 a.m. More than 4,000 local and international participants are expected to take part across four categories: the Full Marathon (42 km), Half Marathon (21 km), 10 km Road Race and 5 km Fun Run.

The recognition gives the marathon international competitive status, with performances from the event eligible to contribute towards the official World Athletics World Rankings, subject to the applicable requirements. For Sri Lankan athletes, it creates an opportunity to compete in a globally recognised ranking competition on home ground, while giving international athletes another recognised race on the global calendar.

The development comes as preparations gather pace, with technical planning now focused on ensuring that the race delivers the standards expected of a World Rankings Competition. A key area of preparation is the technical management and measurement of the course. International technical expertise is being brought together with Sri Lankan officials as the organisers work towards ensuring that the course and race arrangements meet the requirements associated with the event’s World Athletics status.

More than 100 qualified officials from Sri Lanka Athletics will support the conduct of the race, with preparations also involving the Department of Sports Development, Sri Lanka Athletics and the Institute of Sports Medicine. The technical work covers course measurement, technical officiating, athlete safety, medical preparedness and race-day operations, ensuring that the standard of its on-the-ground delivery matches the international recognition secured by the event.

‘Being recognised as a World Rankings Competition and included on the World Athletics Global Calendar is a significant milestone for Sri Lankan athletics. It allows our athletes to compete on home ground at a globally recognised event, while placing Colombo firmly on the international road-running map,’ said Youth Affairs and Sports Minister Sunil Gamage,

The recognition also strengthens the Colombo Marathon’s potential to attract international participation and support Colombo’s wider ambitions as a destination for sports tourism, while allowing Sri Lankan athletes to compete within a globally recognised competitive environment without travelling overseas.

As the countdown continues, the focus now is on translating the recognition achieved through the World Athletics Global Calendar into a technically sound and professionally delivered race, with Colombo preparing to welcome athletes from Sri Lanka and overseas.

Colombo Marathon 2026 is organised by the Ministry of Youth Affairs and Sports together with the National Olympic Committee of Sri Lanka. The event is presented by Union Assurance, powered by Elephant House, supported by Nations Trust Bank and City of Dreams Sri Lanka, with Rupavahini as the Official Media Partner, DC Group as the Creative Partner, Nestomalt as the Energised Partner and IPG Group as the Sports Innovation Partner.

Tea exports fall 5% as Middle East disruption hits key markets

Sri Lanka’s tea exports fell sharply in the first seven months of 2026, with Middle East shipping disruptions compounding weaker shipments to several key markets and contributing to a $ 67 million decline in export earnings.

Tea exports during January-July dropped 4.9% to 143.51 million kg, from 150.85 million kilograms (Mn/Kg) in the corresponding period last year, according to data from Forbes and Walker Research and Customs figures analysed by Siyaka Research.

The contraction accelerated in July, when exports fell to 20.41 Mn/Kg, down 3.63 Mn/Kg, or about 15%, from 24.04 Mn/Kg a year earlier.

They attributed the renewed pressure in July partly to continued disruptions to shipping routes in the Middle East, which affected export flows and market access.

The decline in volumes has been accompanied by weaker dollar realisations. Tea export earnings for the first seven months were approximately $ 817 million, compared with $ 884 million a year earlier.

The average FOB value declined to $ 5.70 per kg from $ 5.86, despite a substantial increase in the rupee-denominated FOB value.

The average FOB value in July rose to Rs. 1,921.95 per kg, up Rs. 155.44 from Rs. 1,766.51 a year earlier. However, the stronger rupee-denominated price was not sufficient to offset the decline in export volumes and the lower dollar realisation.

For the January-July period, the average FOB value increased by Rs.77.65 to Rs.1,826.16 per kg from Rs. 1,748.51. In dollar terms, however, it declined by $ 0.16 per kg to $ 5.70.

The divergence highlights the pressure on Sri Lanka’s tea export sector: higher local-currency prices are masking a deterioration in the underlying dollar value of shipments, which remains the more relevant measure for export earnings and foreign-exchange generation.

The impact has been particularly pronounced across several Middle Eastern and adjacent markets.

Exports to Libya fell by around 58% to 5.4 Mn/Kg from 13 million kg, while shipments to the United Arab Emirates declined by a similar magnitude to 4.4 Mn/Kg from 10.6 million kg, according to Siyaka.

Saudi Arabia proved more resilient, with imports broadly stable at around 4.8 Mn/Kg compared with 4.7 Mn/Kg previously. Syria also recorded a modest increase, with imports rising to 4.7 Mn/Kg from 4.5 Mn/Kg.

Beyond the region, exports to Chile declined by approximately 24% to 4.9 Mn/Kg, while China recorded an 8% decline to 5.5 Mn/Kg.

The market performance nevertheless contained some bright spots. Trkiye emerged as the largest individual importer of Ceylon Tea during the January-July period, with imports reaching 24.76 Mn/Kg, up 138% from 10.40 Mn/Kg a year earlier.

Iraq, however, saw imports fall 36% to 14.42 Mn/Kg, while Russia recorded a 2.6% increase to 13.35 Mn/Kg. Azerbaijan also posted strong growth, with imports rising 49% to 7.14 Mn/Kg.

The category breakdown provides little comfort, with Instant Tea the only segment to record a positive volume variance during the first seven months. All other categories recorded declines compared with the same period in 2025.

In value terms, all categories except Instant Tea recorded gains in rupee terms, but the picture was weaker in dollars. Green Tea was the only category to record a positive dollar variance, while the other categories declined.

The latest figures underline the increasing exposure of Sri Lanka’s tea trade to geopolitical and logistical disruptions along its traditional markets and shipping routes.

With volumes contracting, the average dollar FOB value declining and several important Middle Eastern markets recording steep falls, the industry faces a challenge that cannot be addressed through higher rupee prices alone.

Industry analysts say resilience of markets such as Trkiye, Russia and Saudi Arabia could provide some cushioning, but the first seven months of the year suggest that Sri Lanka’s tea sector is facing both a volume problem and a dollar-value problem at a time when export earnings remain critical to the country’s external position.

Jayasuriya reprimanded by ICC

Sri Lanka player Prabath Jayasuriya has been handed an official reprimand for breaching Level 1 of the ICC Code of Conduct on the second day of the second Test against India at the SSC grounds on Monday.

Jayasuriya was found to have breached Article 2.2 of the ICC Code of Conduct for Players and Payer Support Personnel, which relates to ‘abuse of cricket equipment or clothing, ground equipment or fixtures and fittings during an International Match.’

In addition to this, one demerit point has been added to Jayasuriya’s disciplinary record, for whom it was the first offence in a 24-month period.

The incident occurred after Jayasuriya was dismissed with the final delivery of the day, when he struck the boundary wedges with his bat on his way back to the pavilion.

Jayasuriya admitted the offence and accepted the sanction proposed by Andy Pycroft of the Emirates ICC Elite Panel of Match Referees, so there was no need for a formal hearing.

On-field umpires Ahsan Raza and Sharfuddoula Ibne Shahid, third umpire Rod Tucker and fourth umpire Prageeth Rambukwella levelled the charge.

Level 1 breaches carry a minimum penalty of an official reprimand, a maximum penalty of 50 per cent of a player’s match fee, and one or two demerit points.

Existential realism: Rethinking Sri Lanka’s international relations in a de-globalising world

The world order is not only in flux but in transition in an uncertain direction to an unknown new pattern. The change is kaleidoscopic; the transition open-ended. It is not inexorably linear from unipolarity to multipolarity.

Current global dynamics must be understood as multidimensional, with porous membranes between the dimensions, making for inter-dimensional interface.

The world is no longer unipolar in many respects, yet still unipolar in some respects and to some extent-such as the unparalleled global reach and combat experience of the US military. However, the complete failure of the mighty US military in its Iran war to achieve the main objective of strategy against any enemy-to force the adversary to bend to its will and surrender-shows us the limited and relative scope of America’s military quasi-unipolarity.

The twin wars ongoing in the Middle East and Russia-Ukraine will affect, if not determine, the outcome of the transition in the world order.

Already the Israelis have attacked a military base near the Turkish border within post-Assad Syria, friend of the West, on the grounds that Turkey was about to station troops there. If there were to be war between US partner Israel and NATO member Turkey, what would befall NATO?

We may have to speak of a world order in transitions (plural) not a single transition. The transition/s are uneven and contradictory in character.

In economics, the world is at least bipolar-USA and China-but is probably closer to multipolarity. In strategic nuclear power, the world is bipolar or tripolar-USA-Russia, or USA-Russia-China. In an overall, composite sense, the world is increasingly bipolar: USA/China.

Globalisation’s contradictions

US strategy towards globalisation had several stages. Henry Kissinger regarded the world order in the late 1960s and 1970s, dominated by the Vietnam War, as similar to that of Europe after the French Revolution and during the Napoleonic wars: a period of systemic revolution. Like his hero Metternich during the period of European volatility, he sought to stabilise the international system. His strategy was to draw in both China and Russia as stabilising stakeholders, while playing one against the other.

Bill Clinton extended US globalisation strategy, drawing China through the WTO deeply into the world capitalist economic system. During the 2008 economic crisis, the US had reason to be pleased because China’s participation in the system and investment in the USA, stabilised world capitalism.

The US perspective on globalisation unravelled as the neoliberal model of globalisation began to de-industrialise the US itself, causing the collapse of whole industries and communities of workers. US voters have reacted through shifts to the populist right and left, while UK voters reacted to the same erosion through Brexit.

Meanwhile the unipolar moment of the 1990s encouraged US military adventurism in former Yugoslavia and the Arab world, causing Russia to reassert itself and push back under Putin.

A string of wasteful and unsuccessful wars depleted the US economy while China began to successfully compete with and overtake the USA in some respects in the globalised world economy.

President Trump’s tariff wars on rivals and allies alike, and his war on Iran which has blocked oil and trade flows through the Strait of Hormus, have massively disrupted economic globalisation. US Treasury Secretary Scott Bessent’s total economic cutoff of Iran and threat of secondary sanctions on anyone who interacts economically with Iran, will further disrupt and damage the globalised world economy.

The US-Canada-Mexico Free Trade Agreement (formerly NAFTA) has been upended by the US tariff attack on Canada and Canada’s admirable resistance through reciprocal tariffs.

As Antonio Gramsci legendarily said, ‘the old is dying and the new cannot yet be born. In this interregnum the most morbid symptoms appear’. It is precisely in ‘this interregnum’ that Sri Lanka must regenerate the clarity and strategic sagacity to identify and protect its core long-term national interests game: Total economic war

Targeting Iran, the United States has now declared ‘the most severe economic campaign of isolation in history’, terming it ‘D-Day’ and the ‘Endgame’, threatening anyone who violates that total embargo be they US competitors or allies. Channelling the disastrous President George W. Bush, Scott Bessent has warned America’s allies that ‘if you aren’t with us, you’re against us’.

The stated goal so far was that Iran will never have a nuclear weapon. But if Iran had wanted a nuclear weapon it would not have signed up to the JCPOA with President Obama. It was President Trump who walked out of the JCPOA unilaterally (and assassinated General Qassem Suleimani).

After the USA shredded the JCPOA, Iran proceeded to exceed the percentage of enrichment permitted under the JCPOA which no longer existed, in the hope of driving the US back to the negotiating table. Instead, the West-the EU-hit Iran with ‘snapback’ sanctions designed for violations of the JCPOA, but did so hypocritically after the USA had torn up the JCPOA, i.e., after it no longer existed, while the unilateral violator, the USA paid no punitive price.

The stated aim of US policy has now shifted from ending Iran’s allegedly non-peaceful nuclear ambitions. Treasury Secretary Scott Bessent says that the aim is to end the post-1979 Iranian regime and that US allies too must confront the issue of whether or not they want the regime to continue.

The US which has tried to undermine the Iranian Revolution since 1979, has unveiled its ‘Endgame’: total economic warfare, encompassing and engaging the whole world, aimed at state collapse and counterrevolutionary regime change.

Which will outlast which: the Islamic revolutionary regime in Tehran or the counter-revolutionary, restorationist administration in Washington?

What will be the impact on the world economy already affected by the dual blockade by the US and (in retaliation) Iran of the Strait of Hormus? The US claims it controls the Strait but the number of ships passing through has been reduced to a trickle, giving the lie to that claim.

What will China do in the face of US economic threats over any economic relations with Iran? What will/ can the US do about what China does or doesn’t, and how will China react?

How will the rest of the world respond to the US economic threat? Will all countries comply, and what happens to those who don’t-with what cumulative effect on the world economy?

As with Russia-Ukraine, will the refusal to comply with unilateral US sanctions on Iran enlarge the zone of countries which comprise an autonomous third space, re-patterning globalisation and enhancing economic multipolarity?

Concrete existential realism

The fissured West has in common its unrealistic striving to regain and restore the unipolar moment-the 1990s-of Western hegemony in the immediate aftermath of the Cold War and Soviet collapse. Marco Rubio went further at the 2026 Munich Security conference and urged a return to the era of dominance of the world by Western civilisation.

Given that the USA has shown its capacity for extreme volatility and capriciousness in its external economic policies, even if Democrats win in 2028 and things improve, another Trump-type administration further down the road cannot be excluded. Meanwhile the EU, UK and most of NATO have overreacted in their sanctions policy towards Russia instead of searching for a diplomatic solution to the Ukraine war. Britain has decided to give Ukraine the technology of its long-range Storm Shadow missiles for strikes deep inside against Russia. A hard-line re-composition of the Russian power-bloc may result.

Therefore, Sri Lanka and other countries outside the West/North quadrant of the world economy, must logically make themselves less dependent on and less vulnerable to the volatile Western vortex.

Given the US tariffs on friendly neighbour Canada, and Mark Carney’s statement that the US ‘wants to break us, to own us’ Sri Lanka must rethink ideas of free-trade area connectivity which can give the larger neighbour and partner a handle over the livelihoods and lives of our citizens.

One foreign policy ‘tendency’ in Sri Lanka advocates satellite-like status with the West to pre-empt and buffer against volatility. Such a West-centric throwback to centuries of colonialism is unviable for at least three basic reasons.

(a) It means lining up against China, the Asian economic superpower and peer competitor of the USA. It is actually bigger than/ahead of the US in certain economic respects, and has been a reliable economic partner of countries of the global South including Sri Lanka. To forfeit China as an engine of growth, or to impose limits on one’s own recourse (as a small country) to China, is economic lunacy. China is also Sri Lanka’s greatest counterweight against any Diaspora-prone Western policy and Tamil Nadu-pressurised Indian posture.

(b) It means lining up against Russia, the world’s largest country, the only peer-rival of the USA as a nuclear superpower, and a reliable strategic diplomatic backstop for Sri Lanka in the Security Council and other UN forums.

(c) It would make Sri Lanka utterly vulnerable to Western demands on wartime accountability and national State architecture (federalism, or carving up as in Cyprus and ex-Yugoslavia), driven by the increasingly high-profile Tamil diaspora influentials and voters. This would trigger extreme Southern sociopolitical upheaval.

What I term an ‘Existential Realist’ perspective or ‘Concrete Realism’ suggests the solution:

Identify those zones and countries of the world where extreme demands from Diaspora communities have a resonance in the governments, courts and legislatures from which could emanate unilateral sanctions issuing from verdicts and resolutions, even if they are regional states rather than national legislatures. If the ball is set rolling in a court in a federal State legislature or court, it could travel up to the capital and become part of that country’s policy towards Sri Lanka.

A variation holds also for India with 80 million people in Tamil Nadu (and an overassertive Chief Minister).

Sri Lanka should:

I. Reduce its exposure and vulnerability to such countries and zones (especially adjacent sub-regional ones).

II. Enhance its economic and strategic linkages and partnerships with those nations and zones which are not susceptible to Diaspora or domestic communities demanding interference/interventions which threaten to erode Sri Lanka’s sovereignty, independence, self-determination, unity and territorial integrity.

This translates into a concrete 10-point realist perspective:

1. The challenge is to seek out a safe grand-strategic space in the global arena in which to dwell, to inhabit, so to speak.

2. This by no means is a space in which Sri Lanka can gain acceptance for a maximalist-majoritarian view of itself. There is no safe, secure strategic space which will accept that Sri Lanka can ride roughshod over its minorities-Tamil, Muslim, Christian. Sinhala ultranationalist notions that the Global South and Eurasia do not care about wartime accountability or Tamil political rights, are absurd. Many Latin American states do care about human rights and are anti-militarist, while several Afro-Asian states such as South Africa, Malaysia and Singapore have important Tamil communities.

3. Sri Lanka has to engage in trade-offs on issues that do not damage its core national and state interests, in order to defend those core interests. There is no cost-free or compromise-free global coalition possible. Conceding on devolution within the country (e.g., 13A) can ward off external pressures which may cumulatively break us up as a single country.

4. Those countries of the Global South which lobby Sri Lanka for devolution or against human rights violations or discrimination, are far more our friends than Western states which could mount sanctions on wartime accountability legislatively or legally driven by an embittered Diaspora hoping punish Sri Lanka for defeating Prabhakaran and achieve secessionist aims by external means, not internal insurgency.

5. Sri Lanka has no viable option of warding off threats by robust integration with the US, the West, the US-India axis, or India. The domestic price to be paid will be too large to sustain, and will result (as in the case of Ranil Wickremesinghe’s UNP) in being blocked from popular election to the country’s leadership. Even if elected, that administration will be dislodged by the people.

6. It is only the West and/or the state of Tamil Nadu (pressuring Delhi) that can divide Sri Lanka through external instrumentalities. The West, possibly on an axis with Tamil Nadu, is the most likely to be driven by the Diaspora into adopting sanctions or other inimical measures. ‘Integration’ with South India in this context, will increase the risks.

7. Therefore, Sri Lanka has to reduce, not enhance, its dependence on the electorally-driven volatile West and a pushy Tamil Nadu (which for Sri Lanka, is the equivalent of the state of Florida for the neighbouring island of Cuba).

8. Sri Lanka should proliferate links with the Global South and Eurasia in general– while viewing India as a ‘swing state’ which requires a policy of buffering and hedging by Sri Lanka.

9. Lobbying for West-centricity and establishing contiguity with India including Tamil Nadu, is made on economic grounds, but economic factors tend to last only for decades, while the material realities of geography and therefore of geopolitics tend to be axiomatic, over the very long duration.

10. The long narrative of history arises for the most part from the material realities of geography. It is therefore an irresponsible gamble to incur geopolitical, geostrategic and existential risk for short-to-medium duration economic gains.

Conceptualising dilemmas

Colombo had a rich tradition of intellectual activity in this vital domain, ranging from the Ceylon Institute of World Affairs in the 1960s and 1970s (chaired by Maj. Gen. Anton Muttukumaru, with Mervyn de Silva as Secretary-General), through the Bandaranaike Centre for International Studies in the late-1970s and 1980s, and the Foreign Affairs Study Group of the late 1980s-early 1990s (chaired by Dr. Gamani Corea with Mervyn as Secretary-General.), to the Lakshman Kadirgamar years as Foreign Minister.

Today’s institutions dealing with world affairs are heavily patronised by external interests, or personal platforms or partisan enclaves. The steep intellectual decline began in the second term of President Mahinda Rajapaksa, with the appointment of the loutish Sajin Vass Gunawardena as Presidential Adviser on International Affairs-a post held by Bradman Weerakoon under President Premadasa-and the domination of the Kadirgamar Institute (the founding document of which was drafted by Aruni Wijeyawardena and myself, at Kadirgamar’s request) by Gotabaya Rajapaksa’s MoD.

Kadirgamar took over the Chairmanship of the Bandaranaike Centre for International Studies (BCIS) and reshuffled the Board, inducting Prof. Rajiva Wijesinha, Jeevan Thiagarajah, Tissa Jayatilleka and me. He launched the journal, ‘International Relations in a Globalising World’ with a few of us on the Editorial Board (I doubled as a contributor).

He brought in his friend Sir Adam Roberts from Oxford and hosted a discussion at the Institute of International Relations and Strategic Studies he had founded (initially SLIIR, later to become the LK Institute), on ‘Sri Lanka’s Foreign Policy Challenges in the 21st Century’ (with Nanda Godage, Manel Abeysekara and I among the panellists).

Lakshman Kadirgamar was a lucid, enlightened realist, internationalist and Sri Lankan patriot, aware of complexity and crosscurrents in the context of which he sought to conceptually problematise Sri Lanka’s foreign policy dilemmas, sifting through options and identifying the optimal.

Policy inconsistency or national psyche

A remark this week about three-wheelers has opened a window into how Sri Lanka thinks about policy.

Vocational Education Deputy Minister Nalin Hewage recently suggested that the minimum age for driving three-wheelers could one day rise to 40. His reasoning was that school leavers should acquire skills rather than move straight into three-wheeler driving. The Government later distanced itself from the idea, with Cabinet Spokesperson and Minister Dr. Nalinda Jayatissa saying no such move had been considered.

The episode matters less for the proposal than for the thinking behind it.

Sri Lanka has long worried that young people shun factories, construction sites and other work while choosing three-wheelers. Employers complain that vacancies go unfilled. Policymakers then ask how workers can be pushed towards sectors that need labour. The question is understandable. The answer too often starts with restricting choice rather than asking why people make that choice.

Research by the Institute of Policy Studies in 2022 offered a better starting point. Its study of three-wheeler drivers argued that citizens should remain free to choose their occupation. If other sectors need workers, those sectors must become more attractive. That shifts the burden of inquiry from the worker to the labour market.

The latest numbers make that inquiry more pressing. Unemployment was 3.7% in the first quarter of 2026, but labour force participation fell to 49.2%. Youth unemployment among those aged 15 to 24 stood at 16.1%, while unemployment among 25 to 29-year-olds was 11.8%. Among people with G.C.E. Advanced Level qualifications and above, unemployment was 6.5%. These figures suggest a mismatch that cannot be solved by directing people from one occupation to another.

A three-wheeler driver may value income, independence, hours or the ability to avoid a workplace that pays too little for too much control. A factory may need labour, but that need does not create an obligation on citizens to supply it. If firms cannot recruit, wages, conditions, transport, hours, training and prospects deserve scrutiny before the State reaches for restrictions.

This is where the debate exposes something deeper in the national psyche. Sri Lanka often treats policy as a contest over who can make someone else bear the cost. Employers seek labour flexibility. Workers seek job security. Professions protect entry. Businesses seek tax concessions. Consumers seek low prices. Producers seek protection. Each demand can have a case. Trouble begins when its cost is ignored.

Economics is about choice because resources are limited and choices impose costs. Policy must therefore ask who gains, who pays, what behaviour changes and whether the result serves society better. Yet reform debates often begin with a preferred outcome and work backwards. When resistance follows, governments retreat, amend or reverse course. The resulting oscillation is then blamed entirely on politicians.

Politicians deserve blame when they announce ideas without evidence, consultation or Cabinet agreement. But policy inconsistency also reflects a society that demands reform while resisting its costs. Vested interests do not sit outside the system. They shape it. Ultimately, the hard choices confronting the economy will be determined at the ballot box.

Sri Lanka will not become more productive by ordering people into occupations, nor more competitive by protecting every existing arrangement. It needs policy that starts with evidence, respects choice, measures costs and accepts trade-offs.

That requires policymakers, employers, workers and voters to examine not only what they want from reform, but what they are prepared to change.

The three-wheeler debate offers a modest test. Instead of asking how to stop young people driving them, ask why they prefer to. The answer may tell Sri Lanka more about its labour market, its institutions and its national psyche than another rule ever could.

CSE ends lower amid cautious investor sentiment

The Colombo stock market ended lower yesterday, extending its bearish run into a second session.

The ASPI was down 0.31% or 65.12 points to 21,279.65 and the active S and P SL20 was down 0.24% or 14.59 points to 5,994.81.

With 121 counters ending in red against 69 in green, market turnover was nearly Rs. 797 million on over 27.2 million shares traded amid subdued activity ahead of the two-day mid-week break.

Foreign investors were net sellers on a net outflow of over Rs. 4.1 million.

First Capital Research said the bourse commenced the session on a mildly positive note, yet couldn’t sustain the momentum as both the indexes closed in red. Despite the fall in global oil prices, investors remained cautious and selling pressure continued to weigh on the market.

CARG, DIAL, COMB, BREW and CDB emerged as the top negative contributors to the index. The capital goods sector led the daily turnover with a share of 19%, followed by the materials and banking sectors collectively contributing 28%.

Sri Lanka sets sights on South Asian Games Rugby Sevens medal

Sri Lanka’s Men’s Rugby Sevens team will be aiming for a medal when the 14th South Asian Games take place in Pakistan from 3 to 11 April 2027, with the shorter version of the game included in the 28-sport program.

The Games were confirmed following the South Asia Olympic Council Executive Committee meeting in Islamabad, which concluded 2 days ago. Around 3,200 athletes from seven South Asian nations-Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan and Sri Lanka-are expected to compete for 346 medals.

For Sri Lanka Rugby, the Sevens competition presents a valuable opportunity to challenge the region and target a podium finish. With the country possessing a strong tradition in Sevens rugby, the team will look to blend experienced internationals with emerging talent.

The South Asian Games have traditionally provided an important platform for Sri Lankan athletes, and the 2027 edition will be a major target for the national Sevens program.

Pakistan will host the Games across Islamabad, Lahore and Peshawar.

US Ambassador Eric Meyer arrives in Sri Lanka, presents credentials

US Ambassador Eric Meyer yesterday presented his credentials to President Anura Kumara Dissanayake, marking the formal commencement of his ambassadorial tenure.

Following the ceremony, Ambassador Meyer said: ‘It was an honour to present my credentials to President Dissanayake. The United States is proud to call Sri Lanka a friend in a partnership that has spanned more than 78 years.

I look forward to further strengthening the US-Sri Lanka relationship and unlocking new economic opportunities, deepening our security cooperation, and advancing a free, secure, and prosperous Indo-Pacific.’

Meyer arrived in Colombo on the evening of 22 August, to assume his duties as the 29th United States Ambassador to Sri Lanka. Prior to his assignment in Sri Lanka, he served as Chargé d’Affaires, a.i., at the US Mission to Norway and, before that, as Senior Bureau Official for the Bureau of South and Central Asian Affairs at the Department of State.