Category: Daily Financial Times

The Tamil Progressive Alliance (TPA) held a high-level and forthright engagement with the visiting delegation of the European External Action Service (EEAS), led by Director for Asia and the Pacific Paola Pampaloni, at the EU Delegation in Colombo, hosted by Ambassador Carmen Moreno.

The TPA delegation was led by MP Mano Ganeshan. Also present were TPA Vice President – International Affairs Barath Arullsamy and Up-Country People’s Front General Secretary and TPA Politburo Member Prof. Vijayachandran.

Ganeshan stated that while the TPA supports the continuation of Generalised Scheme of Preferences Plus (GSP+) trade concessions for Sri Lanka, preferential market access must be tied to measurable guarantees of justice, equality, and dignified citizenship rights for historically marginalised communities, including secure land rights for the Malayaga Tamil people.

He emphasised that the credibility of the GSP+ depends not merely on ratification of international conventions, but on real, verifiable implementation, including: secure land rights for Malayaga Tamil families, elimination of entrenched discrimination in plantation regions, protection of labour dignity and eradication of exploitative, modern slavery-like conditions linked to plantation supply chains, and inclusive development and equal national integration. Without tangible progress, the spirit and governance logic of the GSP+ risk being undermined.

The TPA placed before the EEAS the continuing structural exclusion of the Malayaga Tamil community, highlighting persistent landlessness, intergenerational poverty despite sustaining key export sectors such as tea and apparel, systemic socio-economic inequality, and longstanding development neglect compared to national averages.

The delegation also noted with concern the continued silence of the Government of Sri Lanka despite repeated calls for dialogue and resolution on these matters. Independent policy evidence has consistently documented disproportionate vulnerability, unequal recovery, and structural exclusion affecting plantation communities.

Ganeshan conveyed grave concern over the exclusion of Ditwah-displaced Malayaga families from the Government’s Rs. 5 million per unit national housing scheme, while redirecting them to the Indian-assisted Rs. 2.7 million program.

He stated that separating plantation communities into inferior recovery frameworks risks institutionalising segregation and perpetuating systemic apartheid-like discrimination, incompatible with principles of equality and non-discrimination.

The delegation called for equitable and non-discriminatory disaster recovery for all affected Malayaga families.

The TPA reiterated its non-negotiable position:

1. Immediate inclusion of all Ditwah-displaced Malayaga families within the national housing framework.

2. International assistance cannot substitute the Sri Lankan State’s obligation to its own citizens.

3. Housing solutions must recognise land-based livelihoods, social structure, and safety needs of plantation communities.

The TPA emphasised that continued denial of land security and persistent structural discrimination raise serious questions regarding effective implementation of international obligations linked to the GSP+, particularly concerning non-discrimination and minority equality, adequate housing and land security, labour dignity and protection from exploitative conditions, and inclusive governance and development justice

Ganeshan stressed that recognition of land rights for the Malayaga Tamil community would constitute a concrete and measurable step towards demonstrating genuine compliance with the principles underpinning the GSP+.

The TPA called upon international partners, including the EU, to ensure that trade partnerships promote justice and inclusive national development, not merely economic exchange.

Resolving the longstanding marginalisation of the Malayaga Tamil community is essential for strengthening democratic inclusion, ensuring social stability, advancing equitable development, and upholding the credibility of Sri Lanka’s international commitments.

The TPA remains committed to constructive engagement, while affirming that justice, land rights, and equality are fundamental prerequisites for sustainable partnership and national progress.

Three months after Cyclone Ditwah swept across Sri Lanka in late November 2025, the headlines have moved on. In many places, the floodwaters have receded, emergency support has reached affected communities, and farmers are doing what they always do, trying to salvage what they can and prepare for the next season. Yet the most important question now is not how quickly agriculture can return to ‘normal’. It is whether Sri Lanka will rebuild in a way that breaks the cycle of risks that made Ditwah so devastating in the first place.

Ditwah was not simply a bad storm. It was a stress test for our food system, our land and water management, and the institutions meant to protect livelihoods. It showed, in harsh detail, how quickly losses multiply when farms sit in flood pathways, when irrigation and drainage are designed for yesterday’s rainfall, when safety nets are thin, and when early warnings do not consistently translate into early action.

In the immediate aftermath, the damage was rightly measured in flooded hectares, broken canals and damaged infrastructure, and families who lost a season’s worth of income overnight. Those impacts remain real. But three months on, the clearer lesson is why the shock travelled so far and so fast. Over time, exposure has become the default: cultivation and settlement have expanded into floodplains and unstable slopes, driven by land pressure and weak enforcement of risk-informed planning. Infrastructure that should cushion shocks, tanks, canals, embankments, culverts, too often became a failure point because maintenance has lagged and design standards have not kept pace with extreme weather. At farm level, production risk remains concentrated, with limited diversification and high sensitivity to a single event arriving at the wrong stage of the season. Meanwhile, indebted households with delayed access to liquidity struggled to recover, and the information reaching farmers was not always specific enough to prompt practical decisions at the right time.

If Sri Lanka takes only one message from Ditwah, it should be this: recovery spending, by itself, is not resilience. Rebuilding must reduce recurring losses, not merely replace what was damaged. That requires choices that are sometimes harder politically and administratively, but far cheaper than repeating the same cycle of emergency, repair, and regret.

First, Sri Lanka needs farming systems that do not collapse in an ‘all-or-nothing’ way when water stays on fields for days. That means making diversification the

norm, not the exception. It means supporting farmers to adopt crop mixes and planting schedules that spread risk, expanding the availability of stress-tolerant and short-duration varieties, and treating soil health and field drainage as essential productivity infrastructure. It also means paying far more attention to livestock and fisheries, where simple measures like safer siting, elevated shelters, protected feed storage, and better-designed ponds can prevent avoidable losses.

Second, we must stop rebuilding infrastructure to the standards of the past. Irrigation and drainage networks, rural roads, bridges, storage facilities and market access are not just development assets; they are risk management systems. Every major repair should be screened through a simple question: will this investment reduce risk under today’s and tomorrow’s rainfall patterns, or will it lock vulnerability in for the next 20 years? Design standards should reflect projected intensity, not historical averages. Catchment-to-field water management must combine engineered solutions with natural buffers such as wetlands, riparian strips and mangroves that reduce surge, erosion and siltation. Most importantly, hazard information must translate into enforceable land-use decisions, including where rebuilding should not happen and where fair support is needed for people to relocate or shift livelihoods safely.

Third, Sri Lanka must share risk more fairly between farmers, markets and the state. Ditwah exposed how quickly a climate shock becomes a debt crisis for rural households. Faster liquidity after a disaster is not a luxury; it is the difference between recovery and long-term impoverishment. Crop insurance needs to be expanded and improved beyond rice, including high-value crops, and designed for quicker payouts. At the national level, rapid-trigger disaster financing can provide immediate fiscal space to support early recovery without derailing budgets. Public funding and concessional climate finance should be channelled into a clear pipeline of resilience investments, rather than fragmented projects that do not add up to systemic change.

Fourth, early warning must finally become early action. We need not just better forecasts but clearer, localised guidance that farmers can act on, linked to reservoir levels, flood risk, and the realities of protecting seed, inputs and livestock. Extension services must be equipped for a climate era, with practical training in climate-smart practices and risk reduction. And the data systems across meteorology, irrigation, agriculture and social protection must talk to each other so that support can be triggered quickly when thresholds are crossed, instead of being assembled after losses are already locked in.

What does this mean in practice? Over the coming months, the focus should be on completing priority irrigation and drainage works with ‘build-back-better’ standards, supporting replanting packages that include soil and drainage measures rather than seed alone, and preventing distress coping through temporary protection for the most vulnerable households. Over the next few years, the country should aim to roll out climate-smart production and advisory bundles in selected river basins, institutionalise agriculture-focused post-disaster assessments that translate into funded plans, and pilot shock-responsive safety nets and rapid-trigger insurance in cyclone-exposed districts. Over the longer term, repeated loss zones must be reoriented towards flood-compatible systems and slope-stabilising perennials, while catchment rehabilitation and natural infrastructure restoration are treated as productivity investments, not optional environmental add-ons.

None of this is abstract. The cost of inaction is paid in failed harvests, lost income, higher food prices and deeper rural debt. The opportunity is equally concrete: if Sri Lanka uses the post-Ditwah period to modernise agriculture making production more resilient, infrastructure smarter, finance faster and institutions more responsive, then Ditwah can become more than a disaster. It can become the turning point where the country decides to stop repairing vulnerability and start building resilience.

Association of Professional Bankers (APB) Sri Lanka President Anton Arumugam speaks about next week’s 2026 Convention and efforts to strengthen regional and global collaboration, elevated professional standards and positions Sri Lankan bankers on the international stage.

Q: What is the significance of the APB Convention scheduled for 19 and 20 February?

A: The Association of Professional Bankers (APB) incorporated 1988, represents members from public and private banks in Sri Lanka, It is the only platform that brings together professionals, institutions and people across the banking sector. The APB Convention is a landmark gathering that brings together banking professionals, Senior officials from the Central Bank of Sri Lanka, and thought leaders from across the region and beyond. It reflects APB’s commitment to positioning Sri Lankan bankers on a global platform through dialogue, collaboration, and shared learning. This convention is a true flagship event for the profession.

Q: Why has APB placed strong emphasis on international speakers and panellists this year?

A: Because no institution, profession, or country can thrive in isolation. International speakers bring diverse perspectives, global best practices, and real-world insights that help our members navigate an increasingly interconnected financial landscape. Complementing this, the convention also brings together highly experienced local experts and professionals from multiple industry sectors.

Q: How does this convention promote regional synergy in banking?

A: This year›s convention theme, ‘Navigating complexity and accelerating impact through regional synergy’ was chosen with purpose. This complexity calls for strategic thinking and stronger global and regional collaboration. The convention serves as a platform for regional dialogue, enabling collaboration among banking associations, institutions, and professionals. By fostering shared understanding and cooperation, These collaborations move beyond symbolism, focusing on knowledge exchange, professional development, and long-term institutional relationships. APB is helping to build a more resilient and aligned regional financial ecosystem.

Q: How does APB define its role beyond being a professional network?

A: Our mission is simple but vital, to strengthen the banking profession so that it continues to serve the economy, businesses and citizens of Sri Lanka with integrity and resilience. APB was not founded merely as a network of members, but as a standard bearer of excellence, ethics, and leadership. Its mission is to elevate the banking profession and shape values that define responsible and forward-looking bankers.

Q: In what ways has APB helped bridge gaps within the profession?

A: APB has consistently played a unifying role within the banking professions by creating a common, inclusive platform for collaboration and growth. Council members representing multiple banks holding senior positions work collectively toward shared professional objectives reinforcing unity beyond institutional boundaries, importantly mentoring and developing future bankers irrespective of the bank they serve thereby bridging gaps across institutions, generations, and now borders while strengthening the profession as a whole.

Q: Why is trust a central theme in APB’s philosophy?

A: In an environment of rapid change and increasing complexity , trust remains the anchor that sustains confidence in the banking system and the most powerful currency in our profession is integrity. APB remains fully committed to upholding the highest standards of ethical conduct and professionalism, today and always.

Q: How does APB define professionalism in the modern banking context?

A: Professionalism is not defined by how much we know, but by how generously we share our knowledge. APB encourages a culture of mentorship, openness, and continuous learning across the profession and defines professionalism as the responsible application of expertise with integrity and clear commitment to uplifting peers, institution and society at large.

Q: What is APB’s perspective on leadership in banking?

A: APB does not measure leadership solely by personal milestones or titles, but by the ability to uplift others. APB views impactful leadership as the ability to leave the ecosystem stronger, more ethical and more resilient than it was before. Ultimately, APB believes that leadership is validated by the confidence it instils in stakeholders and the positive legacy it leaves for the profession and society at large.

Q: What lasting impact does APB expect from this convention?

A: The convention is expected to strengthen regional partnerships, deepen professional discourse, and reinforce shared values of integrity and collaboration. Finally, it aims to prepare bankers to lead confidently in a complex, interconnected global environment.

Often, we try to correct mistakes. Parents try to correct mistakes of children and teachers try to correct mistakes of students. But, by correcting mistakes are we sabotaging the learning effect? And when it comes to the competitive landscape isn’t it better to let the competitors make mistakes? This is where the strategic silence comes into play.

Strategic silence is when you intentionally choose not to speak or react immediately to achieve a specific outcome. Often it is a short-term pause expecting a medium-term positive outcome.

Some people are born with the ”strategic silence” skill and others must work hard to develop this critical skill. Of course, silence doesn’t come across as a skill in our day-to-day life. But it is a critical skill we tend to learn very late in life. But if you can learn this potent skill early in your career you are on to a winner. What is stopping us from acquiring this skill? There are many obstacles to gaining this critical skill early in your career. What are they?

natural bias to react and/or tell our story

desire to ‘win’ an argument

viewing silence as losing status

lack of understanding the value of silence

underestimating the cost of quick reaction

We want quick solutions to complex problems. With the increasing use of AI and social media, we have become impatient because they solve many problems quickly. So, things stack up against strategic silence and taking the time and waiting on solutions.

However, the discipline to remain a silent observer is a rare and potent form of power. There are three key benefits behind this approach:

conservation of energy

avoidance of self-inflicted decline

avoidance of unintended consolidation/withdrawal

preserving family and community relationships

Let’s explore the above four benefits of silence. When discussions/arguments become intense and emotional we expend our energy for little or no marginal benefit. At times arguments drain energy from both parties for no reward. Our energy is not unlimited, and we must expend it sparingly. For some with a strong negative bias, a brief assertive comment can cause days or even weeks of trauma. That depletes energy. Contrary to what you may think, this is a self-inflicted decline. What is viewed as a quick gain/win may turn out to be a drain on your energy. Quick impulsive reactions can also cause unintended consolidation of power and withdrawal. When it comes to family, there are many instances to consider silence as gold. When a family member or a colleague ‘unleashes’ on you for no fault of yours, the initial response is to react and defend. Consequently, the outcome is often depletion of energy and weakening/destroying the relationship with the person concerned. Silence, on the other hand, gives time to heal and calm down.

Economics of effort

In any competitive landscape – be it geopolitics, business, or personal disputes – energy is a finite resource. Reacting to an adversary’s error often requires an expenditure of capital, reputation, or time. Haven’t we all experienced how we drain our energy during a heated argument? When we jump to capitalise on a mistake, we risk:

Creating a distraction: Your intervention might draw attention away from their blunder and onto your aggression. Your aggression becomes the focus.

Providing a “common enemy”: A failing opponent often finds new life when they can pivot from their internal failure to a defensive stance against an external attacker. It becomes an off-ramp.

By watching patiently, you allow the full weight of the mistake to settle, ensuring the adversary exhausts their own resources trying to fix a problem they created.

Path of failure

A mistake is rarely a single event. It is usually the beginning of a process. If an adversary is heading down a path of poor logic or logistical error, the most effective “attack” is the passage of time. Just watch the downhill movement.

When you react too early, you provide the adversary with an early warning signal. Your reaction tells them that they are being watched and that their current course is significant enough to warrant your concern. This often prompts them to self-correct. In a family and community environment allowing self-correction may be prudent depending on the situation and the vulnerability of the family member. But in a business environment, conversely, silence acts as a vacuum. In the absence of external pressure, an adversary is more likely to double down on their error, believing it has gone unnoticed or that it is succeeding.

Advantage of emotional intelligence

There is a psychological advantage to composure. But it requires a reservoir of emotional intelligence. Composure comes with experience. In a professional or public setting, the party that remains calm while the other is in disarray gains the “mandate of stability”. This can be priceless. By not reacting, you demonstrate:

You are so secure in your position that their errors do not threaten you

You are not driven by impulse or emotion, but by observation and facts

You have chosen to save your energy

When you practice strategic silence, it becomes a part of your being. There is no need to force yourself to be silent. It will be intuitive. You will sense the space without in depth analysis of the space. And that becomes a potent leadership tool.

Conclusion

Strategic silence is not a passive thing. It is a deliberate choice and calculated action. It requires a high degree of emotional intelligence to suppress the instinct to shout from the rooftops when an opponent falters. It comes with experience and training. The most decisive victories are often those where the adversary defeats themselves. In the end, watching patiently is not just about waiting for a downfall – it is about ensuring that when you finally do move, you are moving toward a goal, rather than just reacting to an argument. And that is highly likely to put you in a commanding position. It is often a strategic power play. The key is to keep your emotional intelligence reservoir and overall well-being in good shape to practice strategic silence. It is powerful but risky when misinterpreted. It may appear as indifference, avoidance, or hostility if overused or used without intention.

Sri Lanka concluded a highly successful week at Ambiente Frankfurt 2026, the world’s leading international trade fair for consumer goods, held at Messe Frankfurt, Germany.

Bringing together buyers, suppliers, and industry leaders from over 170 regions worldwide, the combined Ambiente, Christmasworld, and Creativeworld events featured more than 4,600 exhibitors, showcasing the latest trends, innovations, and sustainable solutions, and reaffirming their position as the world’s most influential marketplace for consumer goods.

Sri Lanka was represented by six exhibitors-Dankotuwa Porcelain, Gospel House Handicrafts Ltd., AMP Ceylon Ltd., Art Decoration International, Javana Graphics, and Phoenix Industries Ltd., who showcased a diverse range of products including home and living goods, handicrafts, stationery, office supplies, and creative crafts, highlighting the country’s strong design capabilities and manufacturing expertise.

Phoenix Industries Ltd., Assistant Manager – Exports and New Markets Eranda Kularathne said: ‘We are satisfied with our participation at Ambiente Frankfurt 2026. The exhibition provided excellent exposure to international buyers and opened up valuable discussions with potential partners from new markets. The quality of inquiries and the level of interest in our products were very encouraging, reaffirming the importance of this platform for expanding our global presence.’

The exhibition attracted strong international buyer interest, with Sri Lankan exhibitors reporting healthy footfall, promising business inquiries, and potential export partnerships. In particular, the Paperworld segment generated increased engagement for companies specialising in stationery and creative products, enabling Sri Lankan brands to access new and emerging global markets.

Overall, Sri Lanka’s participation reinforced its manufacturing strengths, commitment to sustainability, and growing export potential, further strengthening its presence on the global consumer goods stage.

Expolanka Holdings’ subsidiary Classic Destinations has been appointed as the Hospitality Partner for ICC Men’s T20 World Cup matches in Sri Lanka.

Classic Destinations in the inbound travel arm of the Expolanka Holdings Leisure Cluster. Its Director Sabry Bahaudeen said the Company was humble and proud to have achieved this status. As the Hospitality Partner, Classic Destinations responsibilities include making hotel reservations for all the visiting teams and officials as well as match and ICC officials; provision of meals responsible for Hospitality Boxes at all match venues and catering food for VIPs as well as transportation for all teams and officials.

At Davos in January, Canadian Prime Minister Mark Carney said what many were thinking but few were willing to state plainly: ‘We are in the midst of a rupture, not a transition.The old order is not coming back. We shouldn’t mourn it. Nostalgia is not a strategy.’

The rules-based global systems that Sri Lanka relied upon for generations are giving way to something more fluid, contested, and multipolar. Tariff pressures, stagnation in Free Trade Agreements, and the rise of global competitors have generated unprecedented headwinds. Many are rightfully anxious. But I want to offer a different perspective.

A multipolar world is not simply a threat to be weathered. It rewards exactly what Sri Lanka has in abundance – if we choose to use it: resilience, adaptability, and entrepreneurial instinct. The ability to move quickly, hone in on niches, and build relationships across divides will determine whether we thrive in this new order.

This is especially pressing given that our economic revival hinges on exports into markets facing their own significant challenges. We are heavily dependent on imports to fuel both exports and domestic energy. In 2026, we cannot afford to underestimate how global developments will impact Sri Lankan economic, food, and energy security. But understanding these risks brings with it the ability to be proactive in mitigating them.

Far from our true potential

My honest assessment – travelling all parts of this island and meeting with traders, farmers, business owners, and especially young Sri Lankans – is that we are still far from our true potential as a nation.

We possess untapped or underutilised assets that few nations can claim. Ceylon cinnamon has no true equivalent anywhere on earth. Our Ayurvedic traditions offer authentic wellness experiences the world is actively seeking. Our geographic position places us at the crossroads of major shipping lanes. Our workforce is educated, capable, and when given the chance remarkably entrepreneurial.

Yet we have consistently settled for less than we deserve. In tourism, we chase mass arrivals rather than developing the wellness, adventure, eco-tourism and other valuable niches where we hold genuine competitive advantage.

In agriculture, we export bulk commodities when we could command premium prices through geographic branding and value addition. Industrial zones built with great ambition remain underutilised.

While the resources exist, our ability to build systems that convert them into realised value do not. Without the technology transfer, quality standards, and access to global value chains that strategic foreign investment can bring, we risk remaining trapped in a model of volume over value – a race to the bottom we cannot win.

Connecting the dots

For decades, the Sri Lankan dream was defined by departure. Success meant children settled abroad. We accepted this not as loss, but as aspiration fulfilled.

Yet in speaking with young Sri Lankans across the island – in corporate offices and farming communities, in established businesses and emerging startups – it is clear that they do not leave because they have given up on this country. They leave because they cannot see a way to connect the dots between the skills they possess and the opportunities available to them.

Our youth are digitally fluent, globally aware, and impatient to build something meaningful. But when they survey the economy, they see fragmented industries, unclear pathways, and potential that remains stubbornly unexposed. What is needed is a fundamental reorientation – a national effort to make opportunity visible and accessible, so they can engage with value chains where they can contribute, grow, and eventually lead.

Building opportunity ecosystems

Real success will not come from driving top-down initiatives. Instead we must establish opportunity ecosystems: interconnected networks of skills, technology, finance, and markets that create real pathways to prosperity.

Consider agriculture. Traditional farming holds little appeal for young Sri Lankans as it represented toil with no meaningful reward. But the sector today encompasses greenhouses, aquaponics, drone technology, IoT-enabled monitoring, precision soil testing, cold chain logistics, and digital marketplaces connecting rural producers directly to export markets. It is a vibrant ecosystem with multiple entry points for technologists, researchers, logistics specialists, marketers, and entrepreneurs.

This insight drives HNB’s Sarusara initiative, our commitment to developing 30,000 agripreneurs across Sri Lanka. Through corporate partnerships, targeted finance, and capacity building, we have already brought over 15,000 participants onto the platform. The results challenge assumptions about what is possible in rural economies.

Tasks that once required five people working across four days can now be completed in ninety minutes with appropriate equipment and training. This goes well beyond incremental improvements. Agri modernisation and automation liberates farmers to move up the value chain rather than remain trapped at subsistence level. By connecting the dots between smallholders and corporate buyers, between rural producers and international markets, between traditional knowledge and frontier technology – we establish ecosystems that in turn will serve as the foundation of Sri Lanka’s economic revival

When a young person in Anuradhapura can trace a clear pathway from soil science to food processing to export logistics, staying in Sri Lanka becomes not just viable, but attractive. The ecosystem makes opportunity visible.

Scaling opportunity across all provinces

This same logic must extend geographically. For too long, economic attention has concentrated in Colombo and a handful of surrounding districts. Credit data tells us lending is concentrated in a few areas. But does this mean opportunity exists only there? Or does it reveal our failure to look beyond familiar territory?

Travelling this country as extensively as I do, the overlooked potential is striking. Uva is largely absent from national economic conversations. Sabaragamuwa remains unexplored. The Southern belt possesses assets extending far beyond its beaches. The Northern, North Central, and Eastern provinces offer proximity to ports, available land, and emerging energy infrastructure we have barely begun to develop.

The Northern Investment Summit offered an instructive model: it asked the right questions about which industries should be prioritised, which locations offer strategic advantages, and how formal frameworks can channel capital to convert potential into opportunity at scale.

Institutions that evolve

Building ecosystems and unlocking regional potential requires financial institutions willing to evolve alongside the economy they serve. The banking sector in 2026 faces three interrelated challenges that will shape how effectively we can support national recovery.

The first is liquidity. Attracting and retaining deposits in a competitive environment requires deliberate effort, particularly as the market adjusts to post-crisis conditions. The second is asset quality. As credit growth accelerates – and we expect decent growth this year – banks must remain vigilant about loan performance.

The third challenge is one that accompanies progress itself: digital risk. As banking migrates toward digital ecosystems, the threat surface expands. Fraud attempts grow more sophisticated. Investment in security infrastructure is no longer optional it is foundational.

At HNB, we have embarked on a five-year strategic plan for 2026-2030, designed to ensure consistency while meeting these challenges in a strategic and sustained manner. We are exploring further investments into Machine Learning and Artificial Intelligence to streamline and secure credit assessment and monitoring, in security operations.

At the same time, we are looking beyond Sri Lanka’s shores. Our five-year plan encompasses both organic growth and selective international expansion. We are in advanced stages of exploring opportunities in overseas markets, with the aim of establishing presence within the coming year. The logic is straightforward: diversifying revenue sources beyond a single economy provides resilience – for the institution, and by extension, for the customers and communities we serve.

If Sri Lanka faces headwinds, we want to be positioned to draw strength from other markets. If we are serious about thriving in a multipolar world, our institutions must themselves become multipolar. This is what it means to build a bank beyond borders.

If the old Sri Lankan dream was about leaving, the new one must be about staying and building something that connects Sri Lanka to the world while matching the aspirations of a new generation. This will not emerge through government action alone. It requires financial institutions extending beyond traditional banking to construct ecosystems; corporates forging connections with smallholders and rural enterprises; educators aligning curricula with emerging opportunities; and policymakers creating frameworks that channel investment where it can generate the greatest impact.

Commonwealth Enterprise and Investment Council (CWEIC) Chairman Lord Marland of Odstock this week held discussions with President Anura Kumara Dissanayake on advancing multilateral trade and strengthening private capital flows into Sri Lanka.

The CWEIC is the principal business network of the 56 member States of the Commonwealth, dedicated to promoting trade, investment, and sustainable economic growth across the Commonwealth.

President Dissanayake and Lord Marland discussed opportunities and the potential for Port City to become in South Asia what the ‘City of London Corporation’ is to Europe, and to work collaboratively with well-established financial centres such as Dubai and Singapore to deepen regional capital markets and trade connectivity.

President Dissanayake called for high-quality investment in priority sectors to boost Sri Lanka’s exports and value addition, while ensuring the transfer of technology.

‘Sri Lanka is not asking for aid. We are asking you to help us attract Commonwealth private capital to specific bankable and economically impactful projects,’ the President said during his talks with Lord Marland on Tuesday.

‘Priority sectors such as tourism, infrastructure, and the digital economy need private capital, while macroeconomic data show recovery, poverty, and inequality remain a significant challenge.’

The President stressed the need for capital inflows to create jobs and empower the vulnerable.

Given uncertainties in global trade, President Dissanayake also urged Lord Marland to help Sri Lanka diversify into new markets.

The President noted that the CWEIC could serve as a valuable platform to facilitate connections between Sri Lankan enterprises and international investors, buyers, and supply chains across key sectors, including services, agriculture, apparel, IT, and logistics.

He observed that Sri Lanka would welcome engagement with the CWEIC’s network to share international best practice in areas such as transparency, regulatory certainty, and the structuring of effective public-private partnership frameworks.

Lord Marland recalled his longstanding association with Sri Lanka and pledged support for the country’s economic revival under the leadership of President Dissanayake.

Referring to the recent damage caused by Cyclone Ditwah, initially estimated at $ 4.1 billion, the President stressed that future investments must be designed to be climate-resilient and disaster-tolerant.

In this context, Lord Marland drew on his experience as Energy and Climate Change Minister, where he was involved in advancing large-scale private capital mobilisation for low-carbon and resilient energy infrastructure, underscoring the importance of regulatory certainty and well-structured public-private partnerships in delivering sustainable, climate-aligned development.

‘What we need is not just repair, but the building of resilient infrastructure and disaster-adaptive systems,’ President Dissanayake said.

On the Fourth of February each year, Sri Lanka celebrates its independence. This year too, we did so. Flags were raised, and among other events, men and women representing our law-enforcement and defence establishments were showcased, touching cultural performances of song and dance were presented and speeches were delivered against the majestic backdrop of Independence Square-perhaps more aptly called Freedom Square.

A welcome change

We must acknowledge of course, that what distinguished this year’s Independence Day celebrations was not what was displayed, but what was restrained. The commemorations avoided triumphalism, excessive spectacle, leader-centric messaging, and was less militarised. Independence belongs to the nation as a whole, to all races, subscribers to all religions, all communities, whether in Government, Opposition, Public Or Private Sector, equally, – not to any ruler, party, or moment in time.

Not simply a date to celebrate

Yet independence is not merely a date on a calendar. As I have observed in this column many times, evaluating the real and tangible value of independence demands a reflection on what we have done, over five, six, seven-and now nearly eight decades-with the freedom we gained from external rule – in essence the freedom to shape our own future.

Measuring progress

The true measure of independence lies in progress made that was once constrained if indeed it was. Therefore, we need to ask the following questions-What constraints did we identify and remove? What new initiatives did we undertake? How did we build upon the foundations we inherited?

Measuring regression –

A case study of an established western democracy

Today, ‘Progress” must also necessarily be measured not only by advancement achieved, but also by the absence of regression-that is by protecting what is good and working well which a country consciously chooses not to undo.

Over the past year in particular, I have observed events-not in Sri Lanka or the yet developing world, but in what is arguably the most technologically advanced, militarily powerful, and wealthiest part of the Western world-yes, events that are shocking, unsettling, disruptive, mind-boggling and difficult to comprehend.

Turning the search light inwards

Thus, as we commemorate ” Independence ” the shocking events in a land we thought was a role model, compel me, to turn the search light inwards on our nation, and to pose a series of questions:-

What freedoms of expression have been curtailed or withdrawn from us?

What liberties, justice, equity and fairness have our people been deprived of?

What dignity and self-respect has been violated?

What opportunities have been denied of us?

What established, globally recognised practices have been undone or weakened?

What institutions have been dismantled or hollowed out?

What independent functions have been interfered with or ridiculed?

What individuals, professions, or enterprises have been coerced into servility and submission?

…to cite only a few.

Sri Lanka and the USA:

The period since our most recent elections

Let us be even more specific. As we reflect upon the period since our Presidential and General elections of 2019 and 2020 and our subsequent elections in 2024 and the US Presidential elections, of 2020, and 2024, might we ask ourselves whether we in Sri Lanka have experienced anything resembling what I will describe below- using names or descriptions, of comparable or corresponding local events and institutions-

A radical challenge to election results by a losing presidential candidate, accompanied by incitement of public unrest

Provocation of mobs to attack Parliament, damage national symbols, and injure security forces

Influencing a nation-wide collapse of public trust in the electoral system

Pardoning individuals investigated, prosecuted, and convicted through what was a long-established judicial process, systems and institutions

A lone-ranger like leader, bulldozing trade and tariff overhauls, on the premise that other nations are “leeches”

Open conflicts of interest, where public office is leveraged for private gain by the leader and family

Intimidation of private enterprise-including publicly listed companies-coercing their leaders into submission

The deliberate infusion of hatred between communities

Attempts to intimidate or interfere with the judiciary

Contemptuous disregard for court orders

Open attacks on a Central Bank Governor

Appointing a prosecuted and fined market offender to ‘reform’ public institutions, including the very regulator that prosecuted him

Interference with established legal firms through coercive settlements tied to political convenience

Ridiculing and defying global institutions, walking away from them, abruptly withdrawing from long-term humanitarian commitments

Coercing public officials to do what is harmful to the nations people

Provoking conflict between village, province, and centre by aggressively deploying law-enforcement agencies

Interfering with universities and demanding submission to politically driven ‘compacts’

……the list, regrettably, could go on. I will leave it to our readers to develop their own individual and institutional answers, whether we have witnessed any one of these.

America’s Story:

Liberty, Justice, Equality-and Hypocrisy

I have four and a half decades of warm and enduring reminiscences of the USA, its many parts, many people and many institutions during short visits, medium term engagements, and long stays of living and learning. Recalling all that deserves space and time. I will leave that for another day. However, I must say that every interaction I engaged in, as a tourist, with practitioners, in my profession or socially, or among academia, I felt free, welcome, warm, safe, secure and justifiably confident.

Against that background, America today reminds us that even great democracies are fragile. Its Declaration of Independence spoke of liberty and equality, yet many signatories owned slaves, excluded women, and ignored indigenous peoples. Independence was partial and contradictory. And yet, the idea mattered. Those words became a moral promise later generations would invoke-abolitionists, suffragists, civil-rights leaders-to demand fuller justice. America rose to global prominence not only through power and wealth, but through the credibility of its institutions. History, however, does not stand still.

Today, with much more than a fleeting sadness, I find myself asking whether the “Once Proud to be American’ citizen today feels as safe and secure, free and confident in their democracy as before. Growing tensions between federal authority and state independence, expanding executive power, politicised regulation, and extreme polarisation raise uncomfortable questions. Institutional erosion and political disruption test the foundations of liberty, justice, and fairness articulated in 1776.What would their Founding Fathers think if they walked today, through the streets of the nation they helped build?

The US’s ICE and the question of power

Today, federal agencies such as Immigration and Customs Enforcement increasingly operate in ways that bring the centre into conflict with states. It is troubling to confront today’s reality, where ICE agents and National Guard troops have been sent-or proposed to be sent-into cities such as Minneapolis-St. Paul, Los Angeles, Washington DC, Chicago, and Portland.

Debates over surveillance

Debates over surveillance, enforcement, and executive authority raise a fundamental question: where does power end, and liberty begin? This tension strikes at the heart of independence-not merely freedom from foreign rule, but freedom from unchecked authority.

Sri Lanka’s Story

Beyond economic dynamism or high-tech innovation

By contrast, despite everything Sri Lanka has endured-from the South to the North-I sense a deeper institutional resilience. Those once associated with terror and disruption now operate within the democratic mainstream. They participate in governance rather than seek to dismantle it. Challenges remain, but there is no systematic undoing of the achievements of prior generations.

Sri Lanka may not have immediately achieved America’s scale of innovation or economic dynamism, but it secured something more fundamental: lived sovereignty. Regulatory independence, impartial courts, and institutional restraint are the true guardians of liberty. Independence is not a ceremony-it is a system.

For Sri Lanka, the lesson is clear. Independence is not measured by GDP, rankings, or technological prowess alone. It rests on institutional strength, rule of law, respect for limits on power, and the dignity of the citizen.

A message to young Sri Lankans

To young Sri Lankans- Independence is not inherited, it is renewed daily. Your generation will decide whether the promise of 1948 becomes the lived reality of 2026 and beyond. By demanding accountability, defending institutions, and standing for fairness, you preserve the freedom that history shows can be lost far more easily than it is won.

Judging by what I see happening in many Sri Lankan organisations, I conclude that they are not fully utilising ‘Feedback’ as an employee developmental, motivational, and empowerment tool. Irrespective of the context of its application, ‘Feedback’ is the heartbeat of growth. By weaving proactive, honest reflection into our daily rhythm, we can transform simple words into a catalyst for a more connected, extraordinary life. This is very cleverly posited by Mother Theresa who observed that failure is merely feedback that something is blocking the path of the emergence and expansion of the greatest version of oneself.

In the modern workplace, feedback serves as the vital connective tissue between individual ambition and organisational success. When delivered effectively, it transforms from a mundane administrative action into a strategic facilitator of growth, clarity, and engagement. The true strength of feedback lies in its ability to bridge the perception gap. Without it, employees, employers, managers, and leaders navigate in a vacuum, often unaware of how their efforts align with the broader vision, mission, purpose, goals, and objectives of the organisation.

A living ecosystem

Performance management is no longer a static, once-a-year post-mortem. It is a living ecosystem fueled by the immense power of feedback. High-impact feedback provides a real-time compass, offering the ‘course corrections’ necessary to turn potential into peak performance. It is not just about identifying what went wrong; it is also about reinforcing what went right and illuminating the path toward mastery. Moreover, a culture of robust feedback fosters an environment of psychological safety. When praise is specific, and critique is constructive, trust becomes the default setting. Such an environment encourages risk-taking and innovation, as team members feel supported rather than scrutinised. In an era where talent is mobile and expectations are high, the organisations that thrive are those that treat feedback as a continuous dialogue rather than a monologue. It is the ultimate tool for unlocking human capital, ensuring that every contributor feels seen, heard, and empowered to evolve.

Netflix renowned for its radical candour and ‘sunshining’ (openly sharing failures), Google with its emphasis on peer-to-peer feedback, collaboration and data-driven performance management, Microsoft with its focus on a growth mindset where feedback is central to employee development and high performance and IBM which uses holistic feedback in enhancing employee capability and capacity, are just a few examples of high-performing global organisations that foster a culture of excellence by encouraging employees to take ownership of their performance and share insights openly through feedback.

Affirmation and feedback create a powerful synergy where instruction meets inspiration. While feedback provides the necessary roadmap for improvement, affirmation supplies the fuel to travel the distance. Together, they transform a critique into a catalyst, ensuring that a person feels both competently guided and deeply valued in his/her pursuit of excellence. When a boss, mentor, or peer offers genuine feedback, they are not just reviewing your past performance; they are investing in your future potential. This recognition acts as a psychological ‘green light,’ signaling that your actions are sound and your contributions matter. In the vulnerable early stages of a career, such validation transforms doubt into drive. It provides the emotional stamina required to tackle challenges, turning the workplace into a space where growth is not just a possibility but is an inevitability. In this light, enlightened leaders and managers are increasingly using feedback as a powerful tool of motivation, empowerment, and guidance.

Power of feedback

I still remember the power of feedback, both positive and negative, and the joy I felt in receiving it, during my first formal job as a cost clerk at Lever Brothers (Ceylon) Limited. I was twenty-one years old, and there existed in me a streak of brashness in feeling ‘high and mighty’ that I had secured a job at one of Sri Lanka’s top organisations. I was studying to be an accountant, and I was ambitious and eager to climb the corporate ladder. Influenced by the values instilled in me by my father, I was not just after a paycheck. Even though I had little money in my pocket, my goal was exposure, experience, deep knowledge, and personal advancement. I constantly sought signs that I was on the right path and contributing to the organisation. My boss’s feedback was one of those signs, and I looked forward to receiving it regularly. It was a steady compass amid a sea of new responsibilities. Every ‘well done,’ ‘keep at it,’ ‘you could have done better,’ and so forth, felt less like a critique and more like a badge of achievement pinned to my lapel. In those evenings of my early corporate days, I would rush home to share with my wife, mother, siblings, and extended family my boss’s praise or admonishment. It was a thrill to share every detail. Sitting at the dinner table, recounting those small victories arising out of my efforts and summarising the lessons learned from my mistakes became my way of saying, ‘I am getting there.’ Sharing those moments with family became a sacred ritual. Their acknowledgment, recognition, smiles, concern, relief, and pride mirrored my own feelings. A simple act like receiving feedback from my boss turned into a shared family triumph and discussion. That feedback became my fuel. It turned routine tasks into a purpose-driven mission. I learned early that while a salary sustains life, heartfelt feedback, whether affirming or correcting, builds a career. It gave me quiet, unwavering confidence that I was on the right track, proving that even the smallest word of feedback can ignite lifelong ambitions. It is this personal experience that drives me to give regular feedback to my peers, subordinates, and colleagues. Therefore, I am surprised by the inadequate attention given by Sri Lankan companies to formal and informal feedback.

Critical component

Feedback, both structured and unstructured, is a critical component of the Performance Management System at John Keells Holdings PLC (JKH). At JKH, feedback is not a seasonal event. It is the omnipresent, continuous, living pulse of the organisation. JKH realised, very early on, that when feedback is relegated to an annual, or half-year, review, it becomes an autopsy of past failures rather than a roadmap for future wins. Climate surveys reveal that when feedback is regular, transparent, candid, and real, employee motivation and effectiveness are enhanced as a matter of course. Ambiguity was identified as the silent killer of productivity. It was noted that in the absence of regular check-ins and dialogue, employees tended to operate in a vacuum, wasting energy on ‘shadow work’ that does not align with strategic goals. Honest feedback provided the guardrails that kept employees focused and talent guided on the fast track. Honesty and transparency, facilitated by vehicles such as career committee-driven performance reviews, skip-level meetings, 360-degree surveys, grievance mechanisms, and the ‘socialisation of feedback’, were seen by staff as signs of respect, involvement, and belonging. Sugar-coating a performance gap was not considered an act of kindness but as a ‘fast train’ to career sabotage. The JKH thinking was that when the truth is withheld, the affected employee is denied the opportunity to pivot. Candour, being the act of direct challenge while caring personally, was acknowledged as an efficient route to the establishment of psychological safety, a feature so critical for teams to take risks and own their contributions, successes, and failures. JKH believed that employee upliftment happens at the intersection of support and challenge, and that consistency of feedback builds trust, reduces the ‘threat response’ in the brain, and that honesty provides the data points needed for skill acquisition. JKH’s operating mantra was – ‘When employees know exactly where they stand, they stop working out of fear and start working out of purpose.’ All in all, consistent, value-adding feedback was found to transform a manager from a judge into a leader cum coach and subordinates from mere followers to passionate exponents.

Buzzword

I sense that ‘feedback’ has become a hollow buzzword in most Sri Lankan corporates. It has become a checkbox on an annual performance review rather than the lifeblood of growth that it is designed for and meant to be. While our global counterparts have pivoted toward radical transparency, many local boardrooms remain stifled by a culture of silence or, conversely, a bluntness that borders on the destructive. The tragedy lies in the missed potential. In many organisations, feedback is either withheld out of a misplaced sense of ‘politeness’ or delivered as a top-down mandate, devoid of empathy. We suffer from a ‘criticism-as-correction’ mindset. When a leader finally speaks, it is often far too late, landing not as a guiding hand but as a heavy gavel. The sensitivity required to nurture a subordinate’s talent is frequently sacrificed at the altar of hierarchy. We mistake seniority for the right to be tactless, and we mistake silence as a necessity for harmony. The lack of constructive two-way feedback creates a stagnant equilibrium. Employees navigate a fog of uncertainty, never quite sure where they stand until the ground shifts beneath them. True feedback requires a delicate alchemy of candour and care, a ‘tough love’ that respects the individual’s dignity while demanding excellence. Until we bridge the gap between ‘saying something’ and ‘saying something meaningful,’ the Sri Lankan corporate spirit will continue to be dampened by the weight of things left unsaid.

In my twenty-five years with Anglo American Corporation (Central Africa) Ltd., ‘Anglo;’ it, with its westernised and aggressive approach to performance, used the SARA (shock, anger, resistance, and acceptance) Framework of Feedback. This framework, often applied in 360-degree feedback or performance coaching, is a model that helps to understand the emotional stages an individual goes through when receiving constructive but unexpected feedback. It is used to help employees process tough feedback and enables them to move from defensive to productive action. The components of SARA are, > Shock/Surprise (S): The initial reaction, especially if the feedback is unexpected or conflicts with the individual’s self-perception. The person may feel stunned or deny the feedback and say, ‘I don’t understand this report’, > Anger/Anxiety (A): The person feels defensive, frustrated, or anxious. He/She may feel the feedback is unfair or personal, blaming the system or the person giving the feedback, > Resistance (R): The individual may try to justify his/her behaviour or reject the feedback outright. He/She might think, ‘I’ll just keep doing it my way,’ > Acceptance (A): The person begins to accept the validity of the feedback and starts to think about how to use it for improvement.

Sri Lanka can shift the ‘feedback’ needle by modifying the SARA model as described above to one that accommodates the hierarchical nuances of its society and culture without compromising modern transparency. We can use a Sri Lanka-suitable SARA Framework which balances the directness required for growth with the cultural quirks and emotional needs of South Asians. The modified SARA can stand for, > Specificity (S); – Ditch vague praise or blame and focus on documented actions and not personality traits. This prevents the feedback from feeling like a personal ‘attack’ on one’s character, > Affirmation (A); – Start by acknowledging the individual’s value to the collective ‘family’ or team. This softens the ego-blow and reaffirms job security before diving into critiques, > Reciprocity; – Feedback must be a two-way street. Ask: ‘How can I help you achieve this?’. This flattens the hierarchy and makes the leader (feedback giver) a partner in the solution, > Actionable; – End with a clear, collaborative roadmap for the next 90 days. This removes the ‘fog of uncertainty’ and replaces it with a tangible goal.

Three pillars of application

In my experience, effective ‘Feedback’ must be founded on three pillars of application if it is to be effective in Sri Lanka. These being, > The ‘Private First’ Rule. In a culture where ‘saving face’ is paramount, I opine that public correction is a bridge-burner. I suggest that all corrective feedback happens behind closed doors, preserving the employee’s dignity among his/her peers, > Show Radical Empathy as opposed to Radical Candour. As a leader and as a coach, I preach that sensitivity is not a ‘weakness.’ It is the strategic use of language to ensure the message is heard rather than blocked by a defensive emotional wall, > Encourage Frequency over Formality. The ‘Annual Review’ is where feedback is destined to die. I propose the ’10-minute Check-in’, where informal, frequent, and low-stakes conversations take place as a part of MBWA (management by wandering about). These would prevent minor issues from becoming terminal grievances.

In Sri Lanka leadership is a ‘parent-child’ dynamic. The goal must be to move toward an ‘adult-adult’ dialogue that respects the individual while driving high performance. We can address this by using more effective language in critiquing. For example, when there is a missed deadline; without saying- ‘You are always late with these reports. It is becoming a real problem for the department.’, say- ‘I value your contributions to the team, but the delay on this report stalled the workflow. What roadblocks are you hitting, and how can we hit the next target together?’ If you are addressing poor quality; without saying- ‘This work is not up to standard. Go back and do it properly,’ say- ‘I noticed the data analysis in this draft lacks the depth we need for the board. Let’s look at the specific sections that need more detail so you can refine it by Tuesday.’ If you are giving feedback on attitude and behaviour; without saying, ‘Your attitude in meetings is very negative lately. You need to change it.’- say ‘I’ve noticed you’ve been quieter in meetings recently. Your insights are usually vital; is there something on your mind we should discuss privately?’

Personally, I am a very direct person. That is the result of the influence of ‘tough,’ loving parents, competitive but caring siblings and the results-oriented, aggressive work ethic of Anglo. Therefore, I am opposed, in principle, to overly sugarcoating communications. As you know, – In life if you overdo something, it loses its efficacy and lustre. In leadership, too, achieving balance between the ‘push’ and ‘pull’ of feedback is an absolute must.

In a culture as nuanced as Sri Lanka’s, feedback must be more than a management tool. It must be an act of respect and concern. If we balance directness with empathy, we will transform critiques into catalysts for growth. We must honour the dignity of the individual while pursuing excellence. We must create a workplace defined by trust. Let us speak with clarity and listen with heart, ensuring our words build bridges rather than walls. In conclusion, follow three golden rules, these being * Frame feedback as a collective step which astutely balances high performance with transparent, honest discussion, guidance and mentoring’, * Praise in public but offer corrective guidance in private, and * Modulate the delivery of feedback to maintain ‘truth’, face’ and dignity.