Category: Daily Financial Times

Fernando brings over 25 years of experience in the global IT industry, having played pivotal roles in founding and scaling technology ventures. He was a founding member of Virtusa Corporation (NASDAQ: VRTU), a global technology consulting firm, where he held leadership positions including Chief Technology Officer and Vice President, managing engineering teams of over 4,000 associates across multiple geographies.

Shanil later cofounded Sysco Labs, the innovation arm of Sysco (NYSE: SYY), a Fortune 100 company, where he led global engineering operations and drove transformative technology initiatives. Currently, he serves as Chief Technology and AI Officer at Cut+Dry, a Silicon Valley-based company revolutionising the US food service industry through technology and data, processing over $ 10 billion in Gross Merchandise Value.

In addition, Shanil is Chairman and Executive Director of Fernando Ventures Ltd., an investment company focused on real estate and property development, and serves as an Independent Non-Executive Director of John Keells Food Products PLC. His contributions to the IT sector have earned him numerous accolades, including ICT Leader of the Year (2016) and recognition among Echelon magazine’s Top 40 Under 40 and 100 Most Successful Leaders. Shanil holds a BSc in Computer Science from the University of Warwick, UK, and is a former board member of SLASSCOM and Secretary of the American Chamber of Commerce in Sri Lanka.

Reinforcing its commitment to innovation and entrepreneurship, Cloud Solutions International successfully hosted Spark Tank: The Final Pitch, the grand finale of its flagship intrapreneurship program designed to transform employee ideas into impactful healthcare ventures.

Spark Tank is a structured innovation journey that empowers employees to think and act like entrepreneurs. The program guides participants through multiple stages-idea generation, validation, and business case development-culminating in a high-energy live pitching event inspired by the popular Shark Tank format.

During The Final Pitch, shortlisted teams presented refined, investment-ready healthcare solutions before a distinguished panel of evaluators. Hosted at the organisation’s office premises, the event featured an engaging setup enhanced with healthcare-themed visuals, fostering a competitive yet celebratory atmosphere.

To ensure global participation, the event was live-streamed to teams in Saudi Arabia using dual video feeds, one capturing the presenters on stage and another showcasing presentations and product demonstrations highlighting the organisation’s culture of cross-border collaboration.

Consultant Software engineering Asiri Liyanage emphasised that Spark Tank reflects the organisation’s long-term vision of embedding innovation into its DNA. ‘By nurturing intrapreneurship, we are not only unlocking the creativity of our people but also building a sustainable pipeline of healthcare solutions with real-world impact.’

All finalist teams were recognised with participation certificates and commemorative plaques, while winning teams received prize money and live on-stage recognition. The winning ideas emerged from a rigorous, multi-stage evaluation process and are being positioned as high-potential ventures with the potential to evolve into independent startup projects.

Beyond competition, the event served as a celebration of creativity, teamwork, and employee contributions, concluding with an employee engagement gathering.

InsureMe, one of Sri Lanka’s leading insurance intermediary and InsurTech-enabled risk solutions provider, has further strengthened its market offering with the receipt of a Reinsurance Broking Licence from the Insurance Regulatory Commission of Sri Lanka (IRCSL).

This positions InsureMe among a select group of intermediaries in the country authorised to provide both insurance and reinsurance broking services, reinforcing its role as a strategic risk partner to insurers and corporate clients navigating increasingly complex risk environments.

The reinsurance licence enables InsureMe to directly structure and place reinsurance programs for Sri Lankan insurers and large-scale corporate clients, facilitating access to global reinsurance markets, including specialist and Lloyd’s markets. This is particularly significant in the current operating landscape, where heightened exposure to large, complex, and catastrophic risks has increased the need for sophisticated risk transfer mechanisms beyond local insurer capacity.

InsureMe’s reinsurance capability is built on an integrated service model, combining insurance placement, reinsurance structuring, and risk advisory under one platform. The company has already arranged reinsurance placements for local insurers, enabling effective management of high-value risks while ensuring regulatory compliance, cost efficiency, and continuity of coverage.

InsureMe Managing Director Niranjan Manickam said: ‘Reinsurance is no longer a back-end function, and is a strategic enabler of resilience. Being a licenced reinsurance intermediary InsureMe is positioned to support insurers and corporates with technically sound, globally benchmarked reinsurance solutions. Our focus is on designing structures that are not only compliant, but commercially optimised and responsive to today’s evolving risk landscape.’

The company’s reinsurance operations are supported by a technical team with combined experience of over 50 years in Insurance and Reinsurance with deep expertise across general insurance classes, including fire, engineering, marine, liability, Cyber and specialty risks. Central to this capability is InsureMe Insurance Broker Head of Reinsurance and Advisory Samanthi Liyanage, who brings over 20 years of experience in the general insurance industry, including a distinguished 17-year career in underwriting and management roles at leading insurance companies.

Liyanage said, ‘Direct engagement with a reinsurance broker gives insurers and corporates access to global capacity, technical structuring expertise, and stronger claims advocacy. Our role is to ensure risks are correctly assessed, programs are optimally designed, and clients are protected with certainty, particularly for large, complex, or capital-intensive projects.’

The ability to engage in reinsurance activities strengthens InsureMe’s value proposition to Sri Lankan corporates undertaking large infrastructure, manufacturing, or export-oriented projects, where local underwriting capacity alone may be insufficient. Through layered and structured reinsurance programs, InsureMe enables access to international capacity while maintaining competitive pricing and professional claims support.

This development follows InsureMe’s recent listing on the Colombo Stock Exchange, underscoring the company’s continued focus on governance, regulatory compliance, and long-term institutional growth. Together, the public listing and reinsurance licence marks a significant step in InsureMe’s evolution from a sole insurance intermediary to a comprehensive risk solutions partner serving both domestic and international markets.

The Colombo stock market ended flat yesterday for the second consecutive session with both indices marginally down.

The ASPI ended down 0.71 points to 23,607.80 and the active SandP SL20 ended 0.12% lower, or 7.69 points to 6,494.76.

Market turnover was over Rs. 4.9 billion on nearly 133.3 million shares traded. Foreign investors were net buyers on a net inflow of Rs. 22 million.

NDB Securities said the ASPI edged down as a result of price losses in counters such as John Keells Holdings, Colombo Dockyard and DFCC Bank

High net worth and institutional investor participation was noted in Citizens Development Business Finance, Melstacorp and Hatton National Bank.

Mixed interest was observed in Commercial Bank, Sierra Cables and RIL Property whilst retail interest was noted in SMB Leasing, Hikkaduwa Beach Resort and ACME Printing and Packaging.

The Capital Goods sector was the top contributor to the market turnover due to Sierra Cables while the sector index lost 1.43%. The share price of Sierra Cables increased by Rs .1.30 to close at Rs 36.30.

The Banking sector was the second highest contributor to the market turnover due to Commercial Bank while the sector index increased by 0.34%. The share price of Commercial Bank edged up by 25 cents to close at Rs. 219.75.

Citizens Development Business Finance, RIL Property and Melstacorp were also included amongst the top turnover contributors. The share price of Citizens Development Business Finance gained Rs. 1.25 to close at Rs. 387.75. The share price of RIL Property recorded a gain of Rs. 2.50 to close at Rs. 37.60. The share price of Melstacorp declined by 50 cents to close at Rs. 175.50. First Capital Research said the Colombo Bourse continued the previous session’s selling pressure in the first half of the day and regained momentum in the latter half slightly below the morning peak.

Top negative contributors for the ASPI were JKH, DOCK, DFCC, SFCL and HHL. HNW participation remained low, while retail activity was comparatively stronger. The real estate sector and selected foreign currency earning counters attracted notably higher investor interest. The Capital Goods counters contributed 19% of total turnover, while the Banking and Diversified Financials sectors together accounted for 29%.

The Finance Ministry yesterday said that Sri Lanka Customs and the Inland Revenue Department have signed a Memorandum of Understanding to conduct joint investigations into under-valuation of imports and related tax evasion, as part of broader Government efforts to strengthen revenue administration.

The MoU was signed at the Ministry of Finance on 13 January in the presence of Treasury Secretary Dr. Harshana Suriyapperuma.

According to the Finance Ministry, operational reviews by Sri Lanka Customs have identified that under-valuation of imported goods has resulted in tax revenue losses to the Government. Authorities have also uncovered instances where certain businesses import goods through third parties on a temporary basis to evade taxes, including liabilities payable to the Inland Revenue Department.

The agreement establishes a joint mechanism enabling Sri Lanka Customs and the Inland Revenue Department to jointly investigate and audit declarations made by importers and the trading community to both institutions.

The MoU follows proposals submitted by a team of senior officials from both Departments aimed at strengthening coordinated enforcement and information-sharing.

The initiative is being implemented under the coordination of the Revenue Administration Reform and Modernisation Office attached to the Presidential Secretariat, which has appointed operational committees to identify reforms to improve the efficiency and effectiveness of Sri Lanka Customs, the Inland Revenue Department and the Excise Department. The Office’s mandate includes supporting Government measures to increase State tax revenue.

Sri Lanka Customs recorded the highest-ever revenue in 2025, surpassing the target of Rs. 2,115 billion and generating an additional surplus of about Rs. 300 billion. The Inland Revenue Department collected a record Rs. 2,203 billion in revenue in 2025, the highest in its 93-year history, exceeding the annual target by Rs. 33 billion.

Sri Lanka’s revenue administration is structurally vulnerable to corruption due to fragmented institutions, weak oversight, and extensive discretionary powers, according to the IMF’s 2023 Governance Diagnostic Assessment.

The report found that Sri Lanka Customs, the Inland Revenue Department (IRD), and the Excise Department operate largely in silos with limited coordination, creating opportunities for collusion and rent-seeking.

Corruption risks are highest at points of interaction between officials and taxpayers, particularly in customs valuation, tax assessments, classification of goods, concessions, and refund processing.

‘Exposure to corruption in customs and tax administration is substantial,’ the IMF noted, citing the absence of effective systems to monitor performance or detect and sanction improper behaviour.

The IMF also highlighted a near-total lack of accountability within revenue institutions.

Promotions are primarily seniority-based, with merit, performance, or integrity concerns playing little role, while leadership instability, closed institutional cultures, and flawed incentive schemes further weaken governance.

Digitisation has reduced risks where implemented, notably through ASYCUDA at Customs, but manual processes remain pervasive, especially in Excise and parts of IRD operations. Weak tracking of tax exemptions, limited data-sharing, and ineffective internal controls undermine revenue outcomes and fiscal policy implementation, the IMF warned, adding that restoring integrity will require stronger oversight, simplified procedures, deeper digitisation, and credible enforcement of staff accountability.

‘no majority, however large, can outrun that truth’

NEARLY seven years after the Easter Sunday bombings tore through churches and hotels, killing more than 270 Sri Lankans and injuring nearly 500 others, the most uncomfortable truth is this: the problem is no longer a lack of evidence, but a lack of political will.

This is not a charge made lightly. It is a conclusion reached after watching successive governments promise closure, commission inquiries, reshuffle investigators, and speak solemnly at memorials-while the core questions remain conspicuously unanswered.

When the Channel 4 documentary aired just before the presidential election, it did more than revive public anger. It reset expectations. The incoming National People’s Power (NPP) Government, campaigning on rupture and reform, undertook to bring swift resolution to what is arguably Sri Lanka’s gravest peacetime crime. The pledge was clear: truth, accountability, and justice-without fear or favour.

President Anura Kumara Dissanayake reinforced that promise in symbolism and substance. His visit to the Katuwapitiya church, where entire families were annihilated, was not perfunctory. It was deliberate. He spoke of justice, of answers, of the moral obligation owed to the dead and the living. For a country accustomed to rhetorical empathy followed by institutional paralysis, the moment carried weight.

Yet, months into a presidency backed by a 159-strong parliamentary majority, the silence is growing louder.

Rehiring investigators, reheating hope

One of the early signals of intent was the re-engagement of senior investigators associated with earlier probes. Most notably, Shani Abeysekera, now Director of the Criminal Investigation Department, was restored to a position of strategic authority. The optics were strong. So too was the implication: that dormant investigative threads would finally be pulled together.

What followed, however, has been procedural motion without prosecutorial momentum.

The uncomfortable fact is that much of what is still being ‘investigated’ is already in the public domain. The Fundamental Rights application filed by Abeysekera himself contains extensive material: timelines, intelligence failures, ignored warnings, and circumstantial links that point not merely to negligence but to possible complicity or wilful blindness at the highest levels of the security apparatus.

This is where the gap between promise and performance becomes impossible to ignore.

The Intelligence question that will not go away

No serious discussion of Easter accountability can avoid the name of Major General Suresh Sallay, former Head of Military Intelligence. Despite repeated public references, parliamentary interventions, and documented anomalies including the now-infamous issue of a compromised passport there has been no visible movement toward arrest, indictment, or even sustained public questioning.

Field Marshal Sarath Fonseka did not mince his words in Parliament, stating that for Sri Lanka’s ‘super spy’ to obtain such a passport was ‘a matter accomplished over the telephone.’ That remark was not rhetorical flourish; it was an indictment of how power functions in this country-quietly, efficiently, and beyond scrutiny.

Yet, despite this, and despite the fact that Sallay’s career trajectory accelerated during the Rajapaksa years, the post-election environment has produced no demonstrable accountability mechanism. Promotions have histories. Silence has consequences.

Why has the case of the former child soldier Pillayan’s release from charges of murder not been reinvestigated? If this Government can continuously attempt to charge Governor Cabraal on matters related to the Greek Bonds purchase despite a Supreme Court order on that – why can’t the Government launch an investigation into Pillayan’s release from remand on allegations of a murder of a politician? What uncomfortable truth are they afraid to unearth? And why? It haunts me to remember the apparent dedication that AKD spoke with in Parliament about the Easter Bombings. Several times he made solemn assurances as President but every time he has fallen short. It is time AKD got hold of an efficient secretary. The penalty he will pay is being returned to his home where tranquility abounds but no electoral endorsement.

If the State is unwilling or unable to confront the intelligence establishment, then the promise of Easter justice was always conditional.

Why the riots didn’t happen – and why that matters

In the immediate aftermath of the bombings, Sri Lanka stood on the brink of communal catastrophe. The anger was real, the fear weaponised, and the potential for retaliatory violence enormous, particularly in Muslim enclaves around Negombo.

That catastrophe did not occur for one reason alone: the intervention of Malcolm Cardinal Ranjith.

At a moment when silence or ambiguity would have been easier, the Cardinal spoke with moral clarity. He urged restraint. He stated, unequivocally, that Muslims are not terrorists. His voice, calm, courageous, and resolute, prevented what could have been a bloodbath. This was not merely religious leadership; it was statesmanship in its purest form.

It is one of the great ironies of the Easter aftermath that the strongest defence of social cohesion came not from the State, but from the Church-even as the Church continues to demand answers the State has failed to provide.

Power without progress

So why has an administration with unprecedented parliamentary strength failed to move decisively?

The reasons are not technical. They are political.

First, the Easter file intersects with institutions the Sri Lankan State has never fully subordinated to civilian oversight: intelligence, military hierarchies, and entrenched security networks. Any serious prosecution risks opening doors that many in power-past and present-would prefer remain closed.

Second, transitional governments often underestimate the inertia of the system they inherit. Replacing personalities does not dismantle cultures. Reassigning investigators does not guarantee prosecutorial independence if decision-making remains centrally constrained.

Third-and most uncomfortably-there is the fear of destabilisation. Easter accountability is not a single case; it is a thread. Pull it hard enough and it unravels narratives carefully constructed over years: about patriotism, counter-terrorism, and the selective use of intelligence.

The cost of delay

Every delay deepens mistrust. For the families of the dead, justice deferred is not an abstraction-it is daily trauma compounded by indifference. For the broader public, the lesson is corrosive: that even mass murder does not guarantee accountability if it implicates the powerful.

President Dissanayake came to office promising rupture. On Easter, rupture means this: naming failures, indicting perpetrators, and confronting the Intelligence State without compromise.

Until that happens, the Easter bombings will remain what they have tragically become-not just a crime without closure, but a mirror held up to Sri Lanka’s enduring inability to hold power to account.

And no majority, however large, can outrun that truth.

The Cabinet of Ministers on Monday approved a proposal to postpone the planned education reforms for Grade 6, following widespread controversy over the inclusion of an inappropriate web link in a new English textbook.

Addressing the weekly post-Cabinet media briefing yesterday, Cabinet Spokesman and Minister Dr. Nalinda Jayatissa said the decision was taken after considering the findings of a Criminal Investigation Department (CID) probe, a separate investigation by the Education Ministry, and consultations with education sector officials led by President Anura Kumara Dissanayake.

He said the Government decided to allow additional time to re-examine the English curriculum, its content and implementation, stressing that reforms cannot move forward without public trust.

‘We believe education reforms should take place, but as a Government we are not willing to proceed if there is even the slightest hint of error or doubt. Education reform cannot go forward without minimum public confidence,’ Dr. Jayatissa said.

As a result of the decision, he said the revised Grade 6 curriculum will now be introduced in 2027.

Dr. Jayatissa said both the CID and the National Institute of Education (NIE) conducted separate inquiries into how the controversial adult website link was included in the textbook.

He said the preliminary investigations revealed serious accountability lapses, and the NIE Board of Management is expected to initiate disciplinary action against officials found responsible.

‘The Education Ministry will reveal the names and details of the findings very soon,’ he added.

He noted that the strong public reaction reflects the high value Sri Lankans place on education, which the Government recognises and respects.

Despite the Grade 6 postponement, Dr. Jayatissa confirmed that Grade 1 education reforms scheduled for this year will proceed as planned.

He also criticised previous administrations, stating that years of mismanagement had resulted in major weaknesses in the education sector, including outdated syllabi, poor human resource planning and recruitment gaps.

Dr. Jayatissa added that growing public debate on the pressure placed on children by the education system influenced the current Government’s reform mandate, which it remains committed to implementing carefully and responsibly.

When asked about the economic impact of printed Grade 6 English textbooks, he said it hasn’t been calculated whilst explaining that it was just a few pages that needed amendments and not the entire book.

Although the first school term for State schools has already commenced, Grade 6 students have not yet received textbooks, pending the outcome of the reviews.

The Daily FT in a front page article last week said that a Presidential Task Force (PTF) has been appointed for rebuilding the nation through an Extraordinary Gazette in response to Cyclone Ditwah. Given the scale of damage to infrastructure, livelihoods, housing, and essential services, such a high-powered coordinating mechanism is both timely and appropriate.

This incisive article evaluates the six key interventions identified in the Gazette, assessing the President’s response to a high-magnitude disaster, proposing improvements, defining the roles of the proposed Committees, and suggesting additional interventions in the light of the global disaster experiences.

The President’s decision to establish a high-powered, multi-sectoral Task Force chaired by the Prime Minister consisting of 25 members to the national task force is appropriate given the national scale of the disaster, the need for rapid decision-making and the requirement for political authority to resolve cross-ministerial bottlenecks This approach is consistent with international practices seen after major disasters in Japan (2011), Indonesia (2004), Trkiye (2023) and New Zealand (2011), where centralised but time-bound recovery authorities were used.

Speed as a form of compassion

In disaster governance, time is not a procedural detail; it is a humanitarian imperative. Delays cost livelihoods, disrupt essential services, and deepen human suffering. The President’s prompt decision to constitute a high-powered Task Force-within days of the cyclone-demonstrates an understanding that speed itself is an act of compassion.

By placing the Task Force under the leadership of Prime Minister Harini Amarasuriya, and bringing together Cabinet Ministers, Deputy Ministers, provincial officials, and senior public servants, the President ensured that recovery efforts would not be fragmented or slowed by institutional boundaries. Instead, a unified national response was set in motion.

What distinguishes this intervention is its forward-looking vision. The mandate of the PTF goes beyond emergency relief to address the full continuum of recovery-rehabilitation, reconstruction, livelihood restoration, economic revival, and institutional strengthening. This reveals an approach grounded in long-term national rebuilding rather than short-term crisis management. This reflects a leadership philosophy that understands disasters not only as moments of loss, but also as opportunities to rebuild better, fairer, and more resilient systems.

Human-centered governance in practice

At the heart of the President’s action is a human-centered governance ethic. Cyclone Ditwah affected not abstract statistics, but families, communities, farmers, workers, and small businesses. By empowering the Task Force to establish specialised committees on housing, social infrastructure, livelihoods, finance, and public communication, the administration has recognised the complex, lived realities of affected citizens. This approach aligns with global best practices observed in countries that have successfully navigated major disasters-where centralised leadership, political authority, and professional coordination were essential to restoring public confidence and accelerating recovery.

Core issues

Post-disaster environments often suffer from overlapping mandates, duplication of efforts, and weak inter-ministerial coordination. By designating the Task Force as the central coordinating authority under the Chairpersonship of the Prime Minister, the President has introduced a unifying command structure, reducing institutional silos. This formal arrangement could be further enhanced by establishing a legally binding coordination protocol across ministries and introducing performance dashboards linked to ministry deliverable.

Immediate humanitarian needs

In instances of national calamities, delays in restoring sanitation, health care, shelter, and water systems take the backseat, escalating humanitarian crises. It is commendable that His Excellency had the audacity to give explicit prioritisation of basic needs, sanitation, and health care within the Terms of Reference ensuring people-centric recovery. This aspect can be further improved by adopting Sphere Standards and WHO emergency benchmarks and also integrating psychosocial and mental services early.

Rebuild basic infrastructure damage

The cyclone Ditwah has caused considerable damages to roads, utilities, schools, hospitals and common amenities impeding recovery and economic revival. Presidential Intervention to rebuild basic and public infrastructure enables strategic, national-level planning rather than piecemeal reconstruction. It is suggested to enforce ‘Build Back’ and Climate-resilient standards and also introduce third party audits for large projects.

Scale up livelihood and economic assets

In any natural disaster, the most vulnerable segment is the informal workers farmers, fishers, SMEs etc and in this context the Presidential intervention on scaling up livelihoods, assets and restoring local economies aligns recovery with long-term resilience which is certainly commendable. To enhance the livelihood income during this turbulent situation, deploying cash-for-work and micro-enterprise recovery grants and partnering with the private sector for local value-chain revival are the other options.

Beyond damaged roads and broken buildings, the most enduring impact of Cyclone Ditwah has fallen silently on those with the least capacity to absorb shocks-small farmers, rural households with no stable income base, daily wage earners, and micro-industries operating at the margins of the economy. For these groups, the cyclone has not merely disrupted income; it has threatened survival.

International disaster-recovery experience is clear on one point: rebuilding livelihoods is as critical as rebuilding infrastructure. When vulnerable income streams collapse, recovery stalls, poverty deepens, and dependence on relief becomes prolonged. In this context, the emphasis placed by the President on livelihood restoration within the Task Force mandate is both timely and morally grounded.

Unlike larger enterprises, farmers and micro-industries lack buffers-insurance, savings, or access to credit. A single cyclone can wipe out crops, tools, livestock, inventories, and local markets in one stroke. If recovery efforts fail to address these losses quickly, the damage becomes structural rather than temporary. Global benchmarks from countries such as Bangladesh, Vietnam, and Indonesia demonstrate that targeted livelihood interventions-implemented early-significantly reduce long-term economic scarring and accelerate community recovery.

Weak data and information

Poor data integration undermines targeting, transparency, decision making process and speed of recovery and the Presidential intervention to include digital data and decision-support mechanisms reflects modern disaster-management thinking. This mechanism can be further improved by developing a unified post-disaster digital registry (GIS-enabled) and linking data systems with national planning and budget platforms.

Communication

Misinformation, lack of transparency, and weak stakeholder engagement erode public confidence in an environment where political rivalries play havoc to ridicule every national minded project engineered by the NPP Government, as hitherto seen. Hence, the Presidential intervention to improve communication and stakeholder engagement addresses governance legitimacy. Public trust can be further strengthened by conducting public briefings and structured engagement with civil society and affected persons and communities. The rousing welcome President received from the destitute, despite their untold suffering from a rehabilitation camp located at Poojapitiya temple, Kandy is a case in point.

Post-disaster assessment committees

This article would be incomplete, if a brief reference is not made about the significance of the eight committees established, in addition to what the Gazette Notification enumerated. Responsible for conducting rapid and detailed damage and needs assessments across sectors. It will standardise assessment methodologies, validate data from field agencies, and prioritise recovery needs. The Committee will ensure evidence-based planning, avoid duplication, and support equitable resource allocation, forming the foundation for all rehabilitation and reconstruction decisions.

Restoration of public infrastructure committee

Tasked with planning, coordinating, and monitoring the rehabilitation of transport, utilities, irrigation, health, and education infrastructure. The Committee will ensure resilience-based rebuilding, compliance with national standards, and integration of climate-adaptation measures while minimising service disruption and ensuring cost efficiency.

Restoration of Housing for Affected Communities Committee

Responsible for developing and implementing housing reconstruction strategies, including owner-driven and community-based models. The Committee will ensure safe, dignified, and culturally appropriate housing solutions, land tenure clarity, beneficiary transparency, and adherence to disaster-resilient construction standards.

Revival of local economies and livelihoods committee

Focused on restoring income sources through livelihood grants, employment programs, micro-enterprise support, and value-chain rehabilitation. The Committee will prioritise vulnerable groups, promote inclusive economic recovery, and align short-term relief with long-term economic resilience.

Restoration of Social Infrastructure Committee

Mandated to restore schools, healthcare facilities, community centers, and social protection services. The Committee will address educational continuity, public health recovery, social cohesion, and psychosocial well-being, particularly for women, children, the elderly, and persons with disabilities.

Finance and funding committee

Responsible for mobilising, coordinating, and monitoring domestic and international funding. The Committee will ensure fiscal discipline, donor coordination, transparency, and alignment with national budgetary frameworks while tracking expenditure effectiveness. Globally, countries facing fiscal stress have adopted special disaster-risk financing tools, such as: catastrophe insurance pools, contingent credit lines from multilateral institutions, and parametric disaster bonds. For Sri Lanka, integrating such instruments would reduce pressure on the national budget while ensuring rapid liquidity for recovery-an approach consistent with IMF- and World Bank-supported frameworks in post-crisis states.

International best practice emphasises sequencing and prioritisation, rather than attempting to rebuild everything simultaneously. In a post-bankruptcy context, recovery must be: needs-driven, cost-effective, and economically catalytic. The President’s focus on livelihoods, infrastructure, and local economies provides a strong base.

Countries such as Trkiye and New Zealand successfully mobilised private-sector participation and diaspora investment in post-disaster recovery. For Sri Lanka, this could include: public-private partnerships in housing and infrastructure, concessional financing for SMEs, and diaspora-backed recovery funds.

Data and information systems committee

Tasked with establishing integrated digital platforms for damage assessment, beneficiary tracking, project monitoring, and decision support. The Committee will enhance transparency, accountability, and real-time policy decision-making through interoperable data systems.

Public communication committee

Responsible for unified, timely, and accurate communication with the public and stakeholders. The Committee will counter misinformation, promote transparency, manage expectations, and ensure two-way communication with affected communities.

Global lessons

Taking a cue from the global disasters, the following additional interventions are recommended to the Presidential Task Force, if its mission is to be accomplished beyond expectation. (A)Time-Bound Recovery Authority-Define a clear sunset clause and transition plan to regular institutions.(B) Independent Oversight and Audit Mechanism-

Ensure transparency and prevent post-disaster corruption. (C) Community-Driven Recovery Platforms-Empower local authorities and communities in decision-making.(D) Climate and Disaster Risk Financing Instruments-Introduce disaster insurance, catastrophe bonds, and contingency financing. (E) National Recovery Knowledge Hub-Document lessons learned to strengthen future disaster preparedness.

A double whammy in a post-Bankruptcy economy

Cyclone Ditwah has struck Sri Lanka at a particularly vulnerable moment in its national journey. Only a few years ago, the country was navigating the painful realities of sovereign bankruptcy, fiscal consolidation, and economic restructuring. Against this backdrop, the cyclone represents not merely a natural disaster, but a compounded shock-a ‘double whammy’ that tests both the resilience of institutions and the credibility of recovery strategies.

International experience shows that post-disaster recovery in fiscally constrained states requires more than conventional reconstruction measures. Countries such as Greece during the financial crisis, Indonesia after the 2004 tsunami, and Pakistan following repeated floods illustrate a key lesson: when disasters strike economies already under stress, recovery must be innovative, The true challenge-and opportunity-before Sri Lanka is to ensure that recovery from Cyclone Ditwah does not merely restore what was lost, but strengthens national resilience against future shocks. In a world of intensifying climate events, this means integrating disaster risk reduction, climate adaptation, and economic resilience into every rupee spent.

Cyclone Ditwah may be a double whammy, but with decisive leadership, innovative financing, and disciplined implementation, it can also become a defining moment in Sri Lanka’s recovery narrative-one that demonstrates how a nation, even after bankruptcy, can respond to crisis with foresight, unity, and resolve.

A moment that calls for recognition

Critique is a vital part of democracy-but so is acknowledgment when leadership rises to the occasion. The speed, clarity, and seriousness with which the President responded to this national emergency merit public recognition. At a moment when the country needed reassurance and direction, this decisive intervention has offered both. It reflects a genuine desire to rebuild Sri Lanka, not merely in physical terms, but in confidence, institutional strength, and collective resolve.

As recovery efforts move forward, the true measure of success will lie in outcomes. Yet it is equally important to note when the foundations are laid correctly. In this hour of calamity, the President’s action stands as a reminder that effective leadership can turn a crisis into a moment of national unity and renewal.

Conclusion

The PTF represents a sound, constitutionally appropriate, and globally consistent response to Cyclone Ditwah. With targeted improvements in accountability, data integration, community participation, and resilience financing, it can serve not only as a recovery mechanism but also as a model for future national disaster governance in Sri Lanka.

More than a century of leadership and the unwavering trust of millions has been powerfully reaffirmed with the conferring of Superbrand Status to the Commercial Bank of Ceylon, cementing its position as the nation’s leading banking brand and elevating it to the pantheon of the world’s most iconic and influential brands while endorsing the sustained progress and enduring value the brand has delivered to customers, shareholders and the economy.

Superbrand Status is a globally respected commendation awarded only to brands that demonstrate exceptional strength, credibility and a powerful emotional connection with consumers. The Bank said the awarding of Superbrand Status recognises myriad aspects of established brand leadership by Commercial Bank of Ceylon – as the most awarded and most respected bank in Sri Lanka, the Best Service Brand, the first to surpass US$ 1 Bn. in market capitalisation, transformative innovation and digital enablement in the sector, strong governance and consistent service.

Commercial Bank Managing Director/CEO Sanath Manatunge said: ‘This is not simply marketing hype. Commercial Bank is a Superbrand for many reasons, all tangible contributors to enduring leadership shaped by strength, trust, progress, long-term value creation, and reliability. Such recognition is never achieved overnight. It is shaped over decades by doing the right things consistently, honoring commitments, and leading with purpose. Over time, this journey is defined by a set of qualities that have come to represent who we are as a bank.’

Superbrand Status is conferred by Superbrands, the world’s largest independent arbiter of branding, which operates in more than 85 countries and has worked with approximately 40,000 major brands through over 600 publications and national marketing program. Participation in Superbrands is strictly by invitation and is reserved for the most outstanding brands in their respective fields, following a rigorous and independent evaluation process. Only brands that are highly rated by the Superbrands Council, supported by extensive research, are invited to receive this status.

The Superbrands Council comprises respected experts and luminaries drawn from branding, advertising, marketing, design, product management, public relations and business. Their collective judgement ensures that Superbrand Status is reserved only for brands that meet the highest global benchmarks of excellence.

For Commercial Bank of Ceylon, the conferment of Superbrand Status marks a significant milestone in the evolution of its corporate brand, affirming its place among the strongest and most valuable brands in the world and reinforcing the trust it has earned across all stakeholder groups.

The Commercial Bank Group ended the third quarter of 2025 in an exceptionally strong position with assets of Rs. 3.23 trillion, deposits of Rs. 2.59 trillion, a loan book of Rs. 1.9 trillion, pre-tax profit of Rs. 73.35 billion, and net profit of Rs. 48.02 billion. The Bank was ranked the country’s biggest lender to the SME sector for the fifth consecutive year by the Ministry of Finance in 2025.

HNB PLC was conferred Superbrand Status for 2025 in recognition of its enduring reputation, consistent delivery of excellence, and sustained leadership in the banking sector. The recognition was awarded in 2025 in Sri Lanka by the global Superbrands following an independent evaluation of brand strength.

Commenting on the recognition, HNB Managing Director/CEO Damith Pallewatte said: ‘This Superbrand status highlights the confidence placed in HNB by generations of Sri Lankans. That trust is built on the strength of our people and a client-centric system that places customer needs at the center of every decision. We have a capable and committed team, guided by strong values and disciplined governance. As we continue to respond decisively to change, our focus remains on responsible banking, sound judgement and delivering service that genuinely supports the long-term progress of our customers and the country.’

HNB serves customers across all key segments, including youth, microfinance, SMEs, emerging corporates, and large institutions. The bank provides tailored solutions and ongoing support, acting as a long-term partner through different life and business stages.

With a relationship-led banking approach, HNB operates digital platforms while maintaining human interaction where needed. This approach has driven strong digital adoption, with over 1.1 million customers actively using its highly rated mobile application. Continuous investment in cybersecurity, data protection and risk management has reinforced confidence at a time when trust is central to financial decision-making. From introducing Sri Lanka’s first metal Mastercard to expanding merchant access through HNB Accept in partnership with Visa, the bank continues to deliver practical solutions aligned with market needs. Its role in national initiatives, such as the exclusive five-year mandate for expressway toll gate digitisation, further demonstrates HNB’s ability to support secure, large-scale digital infrastructure.

The Superbrand Status affirms HNB’s legacy of trust, disciplined execution, and enduring relevance, highlighting the bank’s capacity to lead Sri Lanka’s banking sector with clarity, resilience, and purposeful direction.

With 257 customer centres, HNB stands as one of Sri Lanka’s largest and most technologically innovative private sector banks., The bank was recognised as the’ Best Retail Bank’ in Sri Lanka for the 15th year at the Asian Banker Global Excellence in Retail Financial Services Awards 2024. Furthermore, HNB was ranked among the Top 1,000 World Banks by the Banker Magazine and also has been awarded the title of’ Strongest Bank’ In Sri Lanka for 2025 by TAB Global, Recently HNB was been awarded the prestigious Bracken Award as the ‘Bank of the Year Sri Lanka 2025’ by The Banker Magazine UK,

HNB’s accolades also include recognition at the Euromoney Awards for Excellence, where it was named ‘Best Bank for Large Corporates’ for 2025.

In addition to being honoured with the overall Best Corporate Citizen Sustainability Award by the CCC 2025, HNB was also placed among Sri Lanka’s Top 10 Corporate Citizens of 2025, based on the Bank’s long-term sustainability strategy and structured Environment, Social and Governance (ESG) governance model. Furthermore, HNB was recognised as one of the Top 25 Corporates at the LMD Awards which honoured the 25 most awarded Sri Lankan corporates.