Category: Daily Financial Times

Global and local mineral sands experts, public officials, investors, and industry leaders converged in Colombo yesterday to examine how Sri Lanka can unlock greater value from its mineral resources through processing, technology, and investment rather than continued reliance on raw mineral exports.

The Mineral Sands Technical Conference 2026, hosted by The Ceylon Chamber of Commerce in partnership with Australia’s Mineral Technologies, brought together specialists from Sri Lanka, Australia, India, and South Africa to share technical expertise and international experience on building a globally competitive mineral sands industry while maintaining environmental stewardship and community benefits.

The discussions come at a time when demand for critical minerals used in the electric vehicles, renewable energy systems, advanced manufacturing, aerospace, and defence industries is reshaping global supply chains and creating new opportunities for resource-rich countries able to move beyond raw material exports into higher-value processing and manufacturing.

Industry and Entrepreneurship Development Minister Sunil Handunneththi said the Government’s new minerals policy was aimed at transforming Sri Lanka from a supplier of raw mineral resources into a competitive mineral processing hub supported by research, innovation, and skilled employment.

‘Unfortunately, in the previous decade, Sri Lanka was unable to fully realise the maximum benefits of its mineral resources due to limited long-term strategic work and insufficient value-added industrial expansion,’ he said. ‘Our mission is to transform Sri Lanka into a competitive leader in mineral processing, supporting industries, research, innovation, and skilled employment generation.’

The Minister said the Government’s strategy would focus on strengthening exploration, mining, processing, and value addition while ensuring environmental sustainability, transparency, and good governance.

The renewed focus reflects growing recognition of the strategic importance of Sri Lanka’s mineral resource base.

Industry assessments indicate the country possesses around 604 million tonnes of mineral sands alongside significant deposits of graphite, phosphate, quartz, and other industrial minerals, although experts noted that the country’s resource potential remains underexplored due to the absence of a comprehensive islandwide geophysical survey.

Sri Lanka’s mineral sands contain ilmenite, rutile, zircon, and monazite. The latter hosts rare earth elements such as neodymium and praseodymium, which are increasingly critical for electric vehicle motors, wind turbines, and advanced electronics manufacturing.

Sri Lanka’s mineral export potential is estimated at $ 778 million under the International Trade Centre’s Export Potential Map. A recent Pathfinder Foundation report estimated that the country’s longer-term mineral export opportunity could approach $ 2 billion if investment in downstream processing, value addition, and mineral-based manufacturing can be successfully developed.

Mineral Technologies Managing Director Andrew Foster said Sri Lanka was well positioned to benefit from rising global demand for strategic minerals and increasing efforts by governments and manufacturers to build resilient critical mineral supply chains.

‘Sri Lanka has long been recognised for its significant mineral sands resources and its important place within the global industry,’ Foster said. ‘Sri Lanka has an opportunity to play a meaningful role in this space and the experience gathered in this room today can help shape that journey.’

Drawing on the company’s experience across Australia, Africa, Asia, and the Americas, Foster said successful mineral industries were built not only on resource availability but also on technology, environmental stewardship, and strong institutional frameworks.

He also highlighted a characteristic that distinguishes mineral sands from many other extractive industries.

Mineral sands extraction typically involves recovering only a small percentage of economically valuable minerals while returning the bulk of the material to its natural environment through staged rehabilitation programs.

Unlike many mining operations, the extraction process itself generally does not involve chemical treatment, contributing to a comparatively lower environmental footprint.

Australian High Commissioner Matthew Duckworth described mineral sands as one of Sri Lanka’s most promising opportunities for export-led growth and economic diversification.

He said the sector had the potential to generate export earnings, create skilled employment, and support downstream industries, but cautioned that attracting long-term investment would require transparent regulation, predictable approval processes, policy consistency, and strong environmental governance.

‘Having resources in the ground is a very good thing. But extracting value from those resources is another thing altogether,’ Duckworth said.

He argued that countries derive the greatest economic benefits when they move beyond extraction into processing, manufacturing, and higher-value products.

Duckworth also pointed to opportunities for collaboration between Australian mining technology firms and Sri Lankan operators in areas including exploration, processing technology, skills development, technology transfer, and value-added production.

Technical sessions focused on the full mineral sands value chain, including project economics, resource development, mining and processing technologies, environmental and water management, product quality standards, Environmental, Social and Governance (ESG) requirements, rehabilitation practices, and global market dynamics.

The conference aimed to highlight that the larger opportunity extends well beyond mineral extraction itself. With growing demand for titanium minerals, rare earth elements, and other critical materials, Sri Lanka could potentially position itself as a regional hub for mineral processing, value addition, and technology-driven manufacturing, generating higher-skilled employment and capturing a greater share of value within global supply chains.

Discussions focused on the practical steps required to strengthen investment readiness, improve regulatory certainty, expand exploration, build technical capabilities, and create the industrial ecosystem needed to convert Sri Lanka’s geological advantages into sustained export growth and long-term economic value.

Recent media reports regarding the prosecution of a food importer and distributor for offences involving expired food products raise an important public policy question.

According to the reports, the company pleaded guilty to charges relating to the storage of expired food items together with unexpired goods, the offering of goods for sale without details of the importer or distributor, and conduct alleged to have been intended to mislead consumers. The court is reported to have imposed a fine of Rs. 75,000 and ordered the destruction of the food stocks concerned.

The destruction of the goods is undoubtedly a significant consequence. However, the case raises a broader question as to whether financial penalties of this magnitude provide a sufficient deterrent to prevent similar violations in the future.

Businesses engaged in the importation and distribution of food products often handle goods worth millions of rupees. Where offences involve matters such as expired food items, inadequate labelling, or conduct that may mislead consumers, the potential consequences extend beyond commercial considerations to public health and consumer confidence.

Particularly concerning is the report that food items supplied through these stores were distributed in bulk to leading hotels and markets across the country. Whether or not any expired products ultimately reached consumers, the mere possibility highlights the wider implications of such lapses. Sri Lanka’s tourism industry depends heavily on maintaining confidence in food safety standards. Any perception that hotels or food establishments may unknowingly receive improperly labelled or expired products has the potential to damage the country’s reputation among both local consumers and foreign visitors.

The purpose of penalties is not merely to punish past conduct but also to discourage future violations. If the economic benefit derived from non-compliance exceeds the financial consequences of being caught, there is a risk that some operators may regard such penalties as simply another cost of doing business.

There is also an important issue of fairness. Businesses that comply with food safety regulations incur substantial costs in maintaining proper storage facilities, stock controls, quality assurance procedures, traceability systems, and labelling requirements. Weak penalties may place such law-abiding businesses at a competitive disadvantage against those who choose to disregard regulatory requirements.

This case therefore provides an opportunity for policymakers to review whether the penalties currently available under consumer protection legislation remain adequate in today’s commercial environment. Monetary fines that may have been meaningful many years ago may no longer serve as an effective deterrent given inflation and the scale of modern business operations.

Consumers are entitled to expect that food products offered for sale meet the required standards and that those standards are enforced through penalties that are both fair and effective. Equally, honest businesses are entitled to compete on a level playing field where compliance with the law is not placed at a commercial disadvantage.

As families increasingly look at practical ways to support their parents and loved ones during retirement, Richard Pieris Finance Ltd. is encouraging everyone to consider something with lasting value – financial security and peace of mind for fathers who have spent their lives supporting their families.

At a time when financial stability and regular income are becoming increasingly important during retirement, Richard Pieris Finance’s Senior Citizen Fixed Deposit scheme offers families an opportunity to invest in the long-term wellbeing of their parents and loved ones through dependable monthly returns and institutional security. The offering reflects a growing preference for financial solutions that deliver not only attractive returns, but also lasting confidence, peace of mind, and financial independence for senior citizens and their families.

The Senior Citizen Fixed Deposit scheme has been designed to provide predictable monthly income, enabling retirees to better manage daily expenses while preserving their savings. Among the options available is the Company’s 25-month fixed deposit offering, which provides a monthly interest rate of 13%, translating into an annual equivalent return of 13.80%, making it one of the most attractive monthly income options currently available for senior citizens.

The offering is backed by Richard Pieris Finance’s strong financial fundamentals and governance framework. The Company holds a Fitch Rating of ‘A(lka)’ with a Stable Outlook, reflecting prudent risk management and financial stability. As a licensed finance company regulated by the Central Bank of Sri Lanka, eligible deposits are also covered under the Sri Lanka Deposit Insurance and Liquidity Support Scheme, providing an additional layer of assurance for depositors and their families.

CEO Lohika Fonseka noted that Father’s Day serves as a reminder of the sacrifices made by parents throughout their lives and the importance of supporting them through practical and meaningful solutions.

‘Many fathers spend decades planning and providing for their families. As they move into retirement, ensuring they have access to secure income streams and financial confidence becomes equally important. Our Senior Citizen Fixed Deposit scheme has been designed with this need in mind, providing reliable monthly returns supported by trust, transparency, and institutional strength,’ he said.

With its expanding branch network and customer-centric approach, Richard Pieris Finance continues to make financial solutions more accessible through personalised support, simplified processes, and countrywide service coverage.

This Father’s Day, the Company hopes to encourage conversations around financial wellbeing because sometimes the most meaningful gift is not what is given for today, but the security it creates for tomorrow.

In 2022, Sri Lanka faced an economic collapse that deeply affected millions. Fuel queues stretched for miles, essential medicines ran out, and for the first time, the country defaulted on its sovereign debt. Analysts blamed external debt, trade imbalances and fiscal mismanagement.

However, researcher Yolani Fernando argues that these explanations only scratch the surface. In her paper, ‘Sri Lanka’s Accountability Deficit’, based on research conducted under the Neelan Tiruchelvam Trust’s Macroeconomic Policy and Socioeconomic Rights Fellowship, Fernando identifies a deeper cause: the erosion of accountability within the country’s governance system.

She explains how the ‘third deficit’, an accountability deficit, alongside the familiar trade and budget deficits, led Sri Lanka toward an economic crisis. She insists that, unless this structural flaw is fixed, Sri Lanka risks repeating the mistakes that drove it into crisis.

Power without oversight

Fernando’s research connects the problem to the concentration of power in the Executive Presidency. Over decades, this system hollowed out the state’s ability to exercise checks and balances.

Policy decisions that were evidently harmful, such as the sweeping tax cuts of 2019 or the imprudent fertiliser ban, were allowed to proceed without institutional challenge. These measures went unchecked because the mechanisms meant to restrain Executive power had grown too weak to intervene.

Her study shows that institutions designed to protect the public interest, such as Parliament, the oversight committees, the Central Bank and the civil service, all lost independence and authority under successive administrations.

Parliament’s decline

Fernando’s research illustrates how Parliament was reduced to a rubber stamp. Oversight committees such as COPE (Committee on Public Enterprises), COPA (Committee on Public Accounts), and COPF (Committee on Public Finance) lost credibility under political capture. When the ruling party took control of these bodies, their role as watchdogs evaporated.

Fernando also highlights the longstanding practice of Presidents retaining the finance portfolio for themselves-i.e., the ‘absentee Finance Minister’ model. This removed an essential counterweight to presidential populism. Without an independent Finance Minister, there was little room for fiscal discipline, long-term policy planning, or unpopular but necessary reforms.

The Central Bank under pressure

Her research further shows how political interference undermined the Central Bank of Sri Lanka. Instead of acting independently, Central Bank Governors were subjected to direct instructions from Treasury Secretaries and Presidential Aides.

The results were disastrous. The fixing of the exchange rate, the denial of insolvency realities, and the reluctance to engage with the IMF all flowed from this breakdown of independence. By the time Sri Lanka finally turned to the IMF in 2022, the situation had deteriorated beyond repair.

The politicisation of the public service

Fernando also draws attention to the decline of Sri Lanka’s once prestigious Ceylon Civil Service. Over the years, it was replaced with a politicised bureaucracy that relied on patronage rather than merit.

This transformation left bureaucrats reluctant to challenge questionable decisions. Instead of resisting harmful policies, officials became complicit. Over time, the state’s technical capacity eroded, leaving the country more vulnerable to reckless policymaking.

Who bore the burden?

While Fernando’s paper is centred on governance, she makes it clear that these institutional failures had real human consequences. The fertiliser ban decimated farmers’ livelihoods and worsened food insecurity. The tax cuts hollowed out state revenues, resulting in reductions in health, education, and social welfare spending. Inflation and shortages placed unbearable pressure on low-income households and daily wage earners.

Women, informal workers and rural communities were among the hardest hit. These underserved groups, who are already excluded from decision-making, had little protection against the shockwaves of the crisis.

Fernando concludes that the accountability deficit is not just a matter of constitutional design. It is also a human rights issue because it undermines the socioeconomic rights of the most vulnerable.

A roadmap for reform

Fernando’s research does not stop at diagnosis. She outlines a series of reforms aimed at rebuilding accountability.

She espouses separating the Finance Ministry from the Presidency. This would restore fiscal prudence and create a buffer against populist decisions.

She calls for a revitalisation of parliamentary oversight. Key committees must be chaired by the opposition and provided with greater technical research support for budget scrutiny.

The Central Bank’s independence must be safeguarded-building on the 2023 Central Bank Act, the institution must be insulated from political interference in practice, not just on paper.

She recommends depoliticising the public service, asserting that transparent recruitment and career development are needed to restore professionalism and autonomy.

Finally, constitutional and financial management reforms must be implemented-there must be consistent enforcement of amendments such as the 21st Amendment to the Constitution and supporting legislation, such as the Public Financial Management Act and Debt Management Act.

However, Sri Lanka’s history of reversing reforms makes public vigilance essential. Laws alone are not enough. Sustained political will and citizen oversight are crucial.

Why this research matters now

Fernando’s study provides a lens for understanding why Sri Lanka’s crisis was not simply about economics. It shows how flawed governance allowed reckless policies to slip through unchecked, with devastating consequences for ordinary people.

Institutions that are meant to curb Executive excesses, such as the Parliament, the Central Bank, the Treasury and the civil service, must function as real guardians of the public interest. Without such accountability, policymaking will continue to prioritise short-term political gain over long-term stability and human rights.

A call to action

This is a reminder that economic recovery is not just about debt restructuring or financial reform. It requires rebuilding the very institutions that hold leaders accountable.

For citizens, the message is clear: accountability cannot be left to politicians alone. Civil society, independent media, and the public at large must play an active role in ensuring reforms are implemented and maintained.

The 2022 crisis exposed the fragility of Sri Lanka’s governance structures. Yet, it also offers an opportunity, a chance to rebuild institutions, restore trust and ensure that policymaking serves the collective good.

If Sri Lanka is to avoid another collapse, it must address its accountability deficit head-on. As Fernando shows, this is not just a matter of good governance. It is a matter of justice, rights and the protection of the most vulnerable.

The District Court of Colombo has recently issued an enjoining order against the former Minister and Member of Parliament Wimal Weerawansa on an application preferred by The Kingsbury PLC.

The Kingsbury PLC set out in the plaint that, it is one of the most prominent and well-known luxury hotels in Sri Lanka having a long-standing presence in the hospitality industry in Colombo and a reputation within both Sri Lanka and internationally. The plaint further included that the company’s board of directors consists of esteemed individuals in the country. It was further set out that The Kingsbury was originally constructed in the early 1970s and opened in or about the year 1973 as the Ceylon Inter-Continental, which at the time was the first five-star hotel in Colombo The hotel was rebranded and reopened in or around January 2013 following a major refurbishment and development under the name ‘The Kingsbury’. It was also set out that the reputation and goodwill attached to The Kingsbury constitutes a valuable commercial asset of The Kingsbury PLC and form and integral part of its business operations.

The Kingsbury PLC in its Plaint stated that, against this backdrop, Wimal Weerawansa, in or around February 2026, directly and/or indirectly referred to the Kingsbury PLC through various social media platforms and made statements of a defamatory nature. The Kingsbury PLC further alleged that Wimal Weerawansa, either expressly or by innuendo, identified the Kingsbury PLC and, through the publication of such defamatory statements, damaged the reputation of The Kingsbury PLC. In particular, it is alleged that Wimal Weerawansa disseminated a video containing the said statements across several social media platforms, thereby causing further harm to the Company’s reputation.

Following Weerawansa’s failure to respond to a Letter of Demand from The Kingsbury PLC seeking Rs. 1 billion in damages and requiring him to cease and desist from his wrongful conduct, the Company instituted proceedings in the District Court of Colombo and upon support, the District Judge of Colombo issued an Enjoining Order restraining the Defendant from republishing, rebroadcasting, publicising, distributing or circulating the said video.

The matter is to be called in Court on 22 June 2026.

The Plaintiff Kingsbury PLC was represented by M. A. Sumanthiran President’s Counsel with Lakshmanan Jeyakumar Attorney-at-Law and Gayani Wickramarathne Attorney-at-Law instructed by R. Moahan Balendra Attorney-at-Law.

There is cautious optimism in the past few days that the peace treaty between the US and Iran would lead to a de-escalation of the situation in the Middle East/Gulf region and the opening of the Straits of Hormuz, a lifeline for the world’s shipping ways.

The framework of a peace deal between the US and Iran has been reached, US President Donald Trump and senior Iranian officials said on Monday, putting the entire world at ease. The reopening of the Strait of Hormuz would depend on the signing of an initial memorandum of understanding on Friday, which Pakistan, acting as mediator, said would take place in Geneva.

Much of the success of a peace deal would depend on Israel which continues to attack Lebanon, even though Iran insists that there can be no peace unless Israel ceases these attacks.

This conflict has particularly hurt countries such as Sri Lanka which depend heavily on oil imports from the region and on the expatriate workers in the region whose inward remittances are crucial for the economy.

Since the start of the war in February, Sri Lanka has seen a rapid rise in oil prices while its tourism sector too has been hit due to the disruption of airline services through aviation hubs such as Dubai, Doha and Abu Dhabi.

Sri Lanka has done its best to remain neutral during the conflict trying to juggle US/Israel interests and balancing relations with Iran and the Gulf region nations. Since the inception of the conflict the Government has called for restraint and dialogue and use of diplomatic initiatives to de-escalate the tense situation. It is the best the country can do given that all these nations are important for Sri Lanka and the country cannot afford to fall foul of any of them.

More than a million Lankans are employed in the region and while their safety and security have been of concern, almost all of them have chosen to remain in these countries hoping for a quick resolution to the conflict.

That a majority of Sri Lankans have chosen to remain in their jobs in the conflict hit region shows a hard truth. People will not give up a lucrative job and return to the country knowing they would be hard-pressed to find proper employment here. For many Sri Lankans who have lived through years of violence and now work in the region, the random Iranian missiles coming in may not cause too much worry and hence their decision to brave the hard times.

The Government on its part will be relieved that the foreign remittances from the Sri Lankan workers have not been impacted by the crisis.

The Central Bank of Sri Lanka (CBSL) said that the country received $847 million in workers’ remittances in May 2026, marking a 32% increase compared to the $641.7 million received in May 2025.

According to a CBSL report, the May 2026 figure is the second-highest monthly remittance recorded in the country’s history, behind the record $879.1 million received in December 2025. During the first five months of 2026, Sri Lanka earned $3.9 billion in remittances, up 26% from the $3.10 billion recorded during the same period last year. The highest number of remittances this year came from the United Arab Emirates (UAE).

So while Sri Lanka can be thankful that its citizens are doing their part to assist the country’s economy, the world as a whole is hoping that the US-Iran agreement will see a permanent end to hostilities and more engagement to iron out the issues that have prevented peace between Iran, the US and much of Europe for decades.

The Court of Appeal (CA) has set aside a Right to Information (RTI) Commission order directing the Central Bank of Sri Lanka (CBSL) to disclose detailed Employees’ Provident Fund (EPF) Government securities transaction data, ruling that disclosure of the information would harm the Fund’s competitive position and falls within an exemption under the RTI Act.

In a judgement delivered on 26 March, the Court allowed an appeal by the CBSL and overturned a 27 November 2018 RTI Commission order that had directed disclosure of certain EPF Government securities transaction details sought by Verité Research under the

RTI Act.

The case arose from RTI applications submitted by Verité Research in 2017 seeking information relating to the management and investment activities of the EPF, including details of Government securities transactions undertaken by the Fund between January 2015 and 30 April 2017.

The requested information included dates of purchase, issue dates, International Securities Identification Numbers (ISINs), coupon rates, yields to maturity, face values, purchase costs, prices, and counterparties relating to primary and secondary market transactions in Government securities.

The Court noted that the EPF, which manages assets exceeding Rs. 3 trillion and serves approximately 2.8 million active members, is a major participant in the Government securities market, accounting for around 50% of the Treasury Bond market.

The RTI Commission had previously directed the disclosure of transaction details relating to purchase dates, issue dates, ISIN numbers, coupon rates, yields to maturity, face values, and purchase costs relating to the relevant period.

However, the Court accepted the CBSL’s argument that disclosure of such information could reveal the EPF’s investment strategies and bidding patterns in the Government securities market, potentially placing the Fund at a competitive disadvantage.

The judgement stated that information relating to the EPF’s participation in Treasury Bond auctions could reveal preferred investment tenors, allocation patterns, and bidding behaviour, enabling other market participants to infer future investment strategies and potentially outbid the Fund in subsequent auctions. The Court noted that this could adversely affect returns earned by the EPF on behalf of its members.

Accordingly, the Court held that disclosure of the requested information would harm the EPF’s competitive position and therefore falls within the exemption provided under Section 5(1)(d) of the RTI Act relating to commercially sensitive information.

Rejecting the RTI Commission’s findings, the Court said the CBSL had provided sufficient reasons to justify its refusal to disclose the information and that the Commission had erred in determining that the public interest in disclosure outweighed the potential harm arising from its release.

The Court also observed that the EPF Act already provides mechanisms for transparency through annual investment statements disclosing the face value, purchase price, and market value of investments, together with oversight by the Auditor General and Parliament.

The judgement further held that the RTI Commission had exceeded the scope of its powers by directing disclosure of information protected under statutory exemptions contained in the RTI Act. Accordingly, the Court set aside the Commission’s order and allowed the appeal.

A group of former depositors of Industrial Finance Ltd., now operating as Lanka Credit and Business Finance PLC (LCBF), has renewed calls for regulatory intervention, claiming they suffered substantial losses after deposits converted into shares during a restructuring exercise were subsequently diluted and listed at significantly lower values.

The depositors, who invested in fixed deposits before the collapse of Industrial Finance Ltd., contend that a Central Bank-backed restructuring implemented in 2011 and 2012 required them to convert part of their deposits into equity. They claim that while those shares were originally issued at a value of Rs. 10 each, subsequent corporate actions and the eventual stock market listing eroded much of that value.

According to the 2011/12 Annual Report of then City Finance Corporation Ltd., formerly Industrial Finance Ltd, 50% of deposit liabilities were converted into new fixed deposits while the remaining 50%, together with unpaid interest, was converted into non-voting shares as part of a restructuring program approved by the Monetary Board of the Central Bank.

The depositors argue that the value of those holdings was severely diminished when the company undertook a private placement and share consolidation ahead of its listing on the Colombo Stock Exchange in 2021.

Documents submitted by the depositors show that during an Extraordinary General Meeting in March 2021, representatives of the depositors objected to a proposal to issue 741.4 million new shares at 40 cents each, arguing that the original shares issued to depositors reflected deposit values converted at Rs. 10 per share.

Minutes of the meeting show a representative of the Depositors’ Association stating that members would incur losses under the proposed structure because their shares had been issued against deposits at Rs. 10 per share.

LCBF, however, has rejected suggestions that shareholders were treated unfairly. In a 2023 response to concerns raised by depositors, the company said it acquired a 72.39% stake in the then City Finance Corporation in 2018 with approval from the Monetary Board and that the company had a negative net asset value per share of Rs. 0.76 at the time. It said subsequent capital infusions of nearly Rs. 2 billion, profit retention and a reduction of stated capital improved the net asset value to a positive Rs. 0.40 per share by the time of listing.

The company further stated that all non-voting shares were converted into voting shares following approval from both shareholders and the Central Bank at an Extraordinary General Meeting held in September 2020.

The dispute highlights the lingering grievances of depositors affected by the collapse and restructuring of several finance companies more than a decade ago, with former Industrial Finance depositors now seeking fresh discussions with regulators and company management regarding compensation and the treatment of their equity holdings.

India ‘A’ overcame their Super Over loss to Sri Lanka ‘A’ by producing a strong batting performance to register a mammoth 101-run win over Afghanistan A in their final league fixture of the ‘A’ team One-Day Tri-Series played at the Rangiri Dambulla Cricket Stadium yesterday to significantly boost their chances of reaching the final.

Asked to bat first, India ‘A’ posted 319-9, powered by half-centuries from Priyansh Arya, Tilak Varma and Kumar Kushagra. Afghanistan ‘A’ played well in spurts but failed to build any momentum, eventually falling well short getting all out for 218.

Afghanistan ‘A’ play host Sri Lanka ‘A’ in the final league game on 19 June at the same venue needing to win and overturn a near-impossible net run-rate deficit.

After a drama-filled encounter against Sri Lanka ‘A’ that ended in a Super Over defeat, India ‘A’ made a few changes. Prabhsimran Singh was left out, with Arya promoted to open alongside Vaibhav Sooryavanshi. The pair added 75 runs in just eight overs. Sooryavanshi, who had to contend with non-cricketing issues in the lead-up to the game, made an unusually scratchy 38 off 28 balls.

At the other end, Arya was fluent from the outset and timed the ball beautifully racing to a 34-ball half-century, striking eight fours and a six. However, he was unable to convert the start into a bigger score, falling for 58 off 42 balls. India ‘A’ then lost Ruturaj Gaikwad shortly after another promising start – 30 off 31 balls.

Kumar Kushagra, ensured there was no middle-order wobble. He joined captain Tilak Varma for a risk-free 104-run partnership off 122 balls that steadied the innings and laid the foundation for a strong finish. Kushagra struck five boundaries in his 67-ball 58, while Tilak was more measured in compiling 59 off 75 deliveries (5 fours). India ‘A’ also benefited from a handy 41-run stand off 29 balls for the seventh wicket, with Vipraj Nigam contributing a brisk 30 off 20 balls.

Afghanistan ‘A’ began brightly in the chase, with captain Imran Mir leading the charge through a 27-ball 32. However, they were unable to maintain the momentum and lost three wickets inside the first 10 overs despite keeping the required rate under control.

Faisal Shinozada and Bahir Shah revived the innings with an 87-run partnership off 89 balls that briefly raised hopes of a comeback. But Anukul Roy broke the stand by dismissing Shinozada four runs short of a half-century.

Bahir Shah reached his fifty (57 off 52 balls, 4 fours, 1 six) but could not push on. His dismissal effectively ended Afghanistan ‘A’s hopes as India ‘A’ tightened their grip on the contest and closed out the game without much trouble. Left-arm spinner Nishant Sindhu finished with 4/31 as Afghanistan ‘A’ were bowled out with 13.1 overs remaining. – [ST]

Scores:

India ‘A’ 319-9 (50) (Priyansh Arya 58, Vaibhav Sooriyavanshi 38, Ruturaj Gaikwad 30, Tilak Varma 59, Kumar Kushagra 58, Nishant Sindhu 21*, Vipraj Nigam 30, Faridoon Dawoodzai 2/74, Abdullah Ahmadzai 2/62, Farmanullah Safi 2/62)

Afghanistan ‘A’ 218 (36.5) (Imran Mir 32, Faisal Shinozada 46, Bahir Shah 57, Yash Thakur 2/48, Nishant Sindhu 4/31)

Lakarcade, Sri Lanka’s leading destination for authentic gifts and souvenirs, proudly announces its official appointment as a National Entity Member of the World Crafts Council AISBL (WCC-International).

This prestigious membership elevation follows a rigourous review conducted by the WCC AISBL Membership Sub-Committee and formal endorsement by the WCC AISBL Board.

The appointment marks a significant milestone for Lakarcade in its continued mission to preserve Sri Lanka’s cultural heritage and promote handmade excellence on the global stage. As a National Entity Member, Lakarcade joins an elite international network of craft practitioners, designers, cultural institutions, and advocates dedicated to advancing traditional and contemporary crafts worldwide.

Lakarcade CEO and Managing Director Anil Koswatte said: ‘This elevation to National Entity Member status is a landmark achievement for our organisation and for the Sri Lankan craft industry as a whole. It reinforces our commitment to uplifting artisan communities and ensures that the craftsmanship of our rural masters is recognised and celebrated within a global framework. We look forward to actively engaging in the Council’s future initiatives to create a sustainable future for handmade excellence.’

WCC AISBL Secretariat Deputy Secretary General and Treasurer Girija Sudhakaran, officially welcomed Lakarcade to the organisation, noting that the application was approved following a comprehensive evaluation process.

‘We greatly appreciate your interest in contributing to the dialogue between material culture, heritage, and contemporary practice – a vision that aligns closely with the mission and values of WCC AISBL,’ Sudhakaran stated.

Through this membership, Lakarcade will actively contribute to global craft development initiatives by

participating in international initiatives aimed at safeguarding traditional craft techniques and cultural heritage aiming at preserving traditions. Further, Lakarcade focuses on uplifting artisans through collaborating on programs that empower local artisan communities and promote sustainable livelihoods and increasing global engagement through representing Sri Lanka at international forums while participating in global exhibitions, events, and knowledge-sharing platforms.

This announcement follows Lakarcade’s recent participation at the 2nd Edition of the World Crafts Forum held in Kuwait City from 1 to 3 February, 2026. The forum, themed ‘Connecting the World, Shaping the Future,’ focused on the role of crafts in the creative economy and socio-economic resilience.

Lakarcade remains committed to its vision of ‘Preserving Heritage’ and looks forward to the collaborative opportunities this international partnership will create in showcasing the finest Sri Lankan craftsmanship to the world.