Category: Daily Financial Times

Hemas Holdings PLC has managed to sustain revenue in the first quarter ended 30 June 2026 but suffered a dip in earnings.

The Group recorded revenue of Rs. 28.77 billion, an increase of 0.9% year-on-year (YoY), while gross profit margin improved by 0.2 percentage points to 30.4%. However, Earnings Before Interest, Taxes, Depreciation, and Amortisation (EBITDA) declined by 14.1% to Rs. 2.26 billion and Group earnings attributable to equity holders declined by 21.4% to Rs. 937 million. Revenue growth in Consumer Brands, Hospitals, and Mobility was offset by a 3.8% decline in Life Sciences.

Hemas Group CEO Ashish Chandra said the divergence between revenue and earnings was primarily caused by the rapid escalation of costs and the time required to recover these increases through pricing.

He said despite strong headwinds, the top line grew marginally driven by sustained demand and price increases across the Consumer, Healthcare, and Mobility portfolios. However, due to the adverse macroeconomic environment, net operating costs rose by 9% YoY, weighing on EBIT and EBITDA and diluted margins. Selling and distribution costs, up 12.3% YoY, accounted for over 50% of the 1Q increase in operating costs, reflecting the significant rise in logistics, fuel, freight, and related distribution costs.

Rupee depreciation increased finance costs at the Leisure JV on its USD borrowings, reducing the Group’s earnings for the quarter.

Higher interest rates, however, benefitted Hemas as a net cash-positive company, helping to recoup some of the lost operating margin, bringing the earnings margin to 3.3%, down just 0.9 percentage points YoY (compared to a 1.4-percentage-point YoY decline in the EBITDA margin).

‘The management’s immediate priorities are to restore cost recovery, protect volumes through calibrated pricing, accelerate productivity initiatives, and improve profitability in Consumer Brands and Life Sciences. While energy and currency volatility are expected to persist, the Group remains focused on strengthening performance while executing its long-term growth priorities with discipline,’ said Chandra.

Going forward, Hemas also said segmental reporting will be broken down into Consumer Brands, Life Science, Hospitals, Mobility and Strategic Investments.

‘The key change is the split of the former Healthcare segment into Hospitals and Life Sciences, reflecting the fundamental differences between these businesses and how they are managed. This change has been implemented in line with our commitment to improving transparency, giving shareholders a better understanding of the business,’ the Group CEO added.

Commenting on the outlook, Chandra said guided by four overarching capital allocation themes, Hemas Group has established goals to accelerate its pace of growth by aggressively pursuing adjacencies through both organic and inorganic growth, exploring a new sector entry in Sri Lanka, growing international revenue, and developing human capital and digital capabilities across the Group. Alongside this, strengthening internal efficiencies to reduce the impact of costs on earnings remains a key priority for the Group.

‘While the near-term operating environment remains volatile, our priorities are clear: restore margins in Consumer Brands and Life Sciences, sustain growth momentum in Hospitals and Mobility, and execute our growth investments with discipline. Our diversified portfolio and net cash position provide resilience, while actions on pricing, cost recovery, and productivity will strengthen performance. We remain firmly focused on delivering our long-term growth ambitions and creating sustainable value for our shareholders and stakeholders,’ Chandra added.

With over 1,000 major surgeries performed each month, Lanka Hospitals said recently is strengthening its position as a leading centre for safe, specialised surgery in Sri Lanka.

The hospital combines internationally recognised clinical standards, experienced multidisciplinary teams and structured recovery pathways to help patients move from diagnosis to surgery and back to daily life with greater confidence.

The scale of the hospital’s surgical program is supported by 12 operating theatres, including dedicated facilities for cardiac and neurosurgery. A 50 bed intensive care network, an in house blood bank and round the clock emergency support provide the clinical backup required for both planned and complex procedures. The hospital also maintains sufficient medicine stocks to support uninterrupted treatment, reducing the risk of delays during a patient’s surgical journey.

Patient safety begins well before an operation. Surgical teams assess each case through coordinated clinical planning, apply established safety checks and use advanced pain management methods to support comfort after surgery. Where clinically appropriate, minimally invasive techniques are used to reduce tissue trauma, shorten hospital stays and help patients return to normal activity sooner.

Across its specialised centres, Lanka Hospitals has developed substantial experience in cardiac, orthopaedic, neurological, oncological, transplant and metabolic surgery. The hospital has completed over 10,000 cardiac surgeries and over 800 cardiac interventions, while its cardiac teams now perform over 70 procedures each month. Dedicated cardiac intensive care facilities support complex operations including coronary artery bypass grafting, valve surgery and procedures for congenital heart conditions.

The hospital’s orthopaedic team, comprising over 35 medical specialists, has completed over 3,000 knee replacement surgeries. Its kidney transplant program has recorded over 1,250 successful procedures, supported by transparent clinical processes and strict medical ethics. Lanka Hospitals has also completed over 450 bariatric surgeries, the highest volume reported by a private hospital in Sri Lanka, helping suitable patients manage obesity related conditions such as diabetes, high blood pressure and elevated cholesterol.

In neurological and spinal surgery, close to 100 spine related procedures are carried out each month. For selected patients undergoing minimally invasive treatment, hospitalisation may be limited to approximately 24 hours. Cancer surgery teams also manage breast, thyroid, lung and other cancers with treatment plans focused not only on disease control, but also on preserving function and quality of life wherever possible.

The Lanka Hospitals Surgical Hub also provides advanced financial guidance and a clearer explanation of expected charges, enabling patients to make informed decisions before admission.

Post-operative care is planned around the individual patient. Clinical teams monitor pain, mobility, nutrition and potential complications while preparing patients and caregivers for recovery at home. This approach is intended to reduce avoidable readmissions and give patients a clearer understanding of medication, follow up care and warning signs that require medical attention.

Lanka Hospitals also serves a growing number of overseas patients, including more than 50 patients from international markets each month who travel to the hospital for specialised treatment. Its internationally accredited standards, range of surgical specialties and coordinated patient support services continue to position Sri Lanka as a credible regional destination for advanced healthcare.

Building on the success of Sri Lanka’s first-ever National AI Expo and Conference held last year, Digital Economy Ministry of Sri Lanka and SLT-Mobitel, the National ICT Solutions Provider, announced ‘Sri Lanka AI Week 2026’, an initiative designed to transform the country’s Artificial Intelligence (AI) ambition into measurable impact. Through thought-provoking discussions, showcases of cutting-edge AI innovations and collaboration among policymakers, businesses, researchers, startups and students, ‘Sri Lanka AI Week 2026’ aims to accelerate the development of a thriving AI ecosystem.

‘Sri Lanka AI Week 2026’, taking place from 28 September to 4 October 2026 across multiple venues in Colombo, will feature four landmark events such as the AI Leaders Night, an exclusive networking dinner for global leaders, policymakers, and C-suite executives and the AI Conference, a two-day forum of keynotes, panel discussions, and workshops on AI policy, enterprise transformation, and emerging technologies. The AI Expo, a multi-zone exhibition open to businesses, students, and the general public, will showcase concrete AI solutions covering key verticals.

Recognising excellence in AI among enterprises, startups, academia, and the public sector, the National AI Awards, will cover over 16 sectors from four categories including National Awards, Industry Excellence, Innovation and Future, and AI for Content. These awards will be presented to organisations and individuals driving real-world AI impact in Sri Lanka.

The press conference highlighted the growing importance of AI in driving Sri Lanka’s digital transformation and emphasised the significance of returning for a second year with an expanded national initiative. The discussions also reflected on the progress made since the inaugural edition and outlined how ‘Sri Lanka AI Week 2026’ will further accelerate AI adoption, foster collaboration, and translate the country’s AI ambitions into tangible and measurable outcomes.

The event was attended by Digital Economy Deputy Minister Eng. Eranga Weeraratne, Digital Economy Ministry Secretary Waruna Sri Dhanapala, Chief Adviser to the President on Digital Economy of Sri Lanka and GovTech Sri Lanka Chairman Dr. Hans Wijayasuriya, SLT Group Chairman Dr. Mothilal De Silva, and SLT-Mobitel CEO Riyaaz Rasheed, alongside senior officials and representatives from Digital Economy Ministry GovTech, and SLT-Mobitel.

Aligned with the vision of Sri Lanka AI Week 2026 to accelerate AI adoption and foster innovation, the occasion marked the launch of two new AI-driven initiatives by SLT-Mobitel. The first, SMART AI, South Asia’s first AI tokenisation platform, will enable customers to purchase AI token credits directly through their SLT-Mobitel connectivity, making access to leading AI tools more simple, affordable, and seamless. Through SMART AI, SLT-Mobitel aims to democratise access to AI and empower students, professionals, entrepreneurs, creators, and businesses to harness AI for learning, innovation, productivity, and growth.

Complementing this initiative, SLT-Mobitel proudly introduced AI Hub, Sri Lanka’s national AI Engagement Platform, designed to accelerate the country’s AI transformation by connecting learners, researchers, academia, industry, and government through a single, governed digital ecosystem. AI Hub offers AI learning and talent development, research collaboration, career opportunities, innovation challenges, AI resources, industry news, and a secure data exchange marketplace. AI Hub enables users to learn, innovate, collaborate, and apply AI to real-world challenges while fostering a national pipeline of AI talent, research excellence, and data-driven innovation. As a live and operational platform, AI Hub represents a significant step toward building a vibrant and sustainable AI ecosystem that empowers Sri Lanka’s digital future.

Further reinforcing the responsible use of AI, the event also highlighted the importance of child-friendly internet and the need to build a safe and secure digital environment, recognising that while AI and digital innovation create immense opportunities, ensuring a safer digital experience for children remains a shared responsibility.

Powered by the theme, ‘AI Amplified’, ‘Sri Lanka AI Week 2026’ demonstrates SLT-Mobitel’s role as a trusted partner to the Government in advancing national priorities and Sri Lanka’s digital future. Reinforcing the commitment to help Sri Lanka realise AI’s full potential, the company is supporting enterprises and citizens to drive inclusive, sustainable growth for the country.

‘Sri Lanka AI Week 2026’ is designed to be more than an event but as a platform for enterprise and business leaders, government and policy stakeholders, developers and technology providers, startups and investors, academia, and the wider public, to exchange ideas, form partnerships, and accelerate industry transformation on a single national platform, and for citizens to witness AI’s impact, setting a national statement that Sri Lanka’s future will not be replaced by AI but amplified through it.

Sri Lanka have been hit badly by injuries to two of their top batsmen ahead of the two-Test series against India, with Pathum Nissanka and Kusal Mendis both being ruled out.

Nissanka, who underwent surgery in his wrist, is still not 100% fit to be considered for selection. It is learnt that he suffers from pain when he bats for long periods.

Due to his surgery, followed by rehabilitation, Nissanka missed out playing in the ongoing Lanka Premier League (LPL). He is most likely to miss the first Test against India starting on 15 August at Galle.

The new selection committee’s policy is that any player coming back from injury has to prove his fitness by playing in a first-class match. In that aspect, Nissanka has no chance to prove his fitness and make himself available for selection.

The injury to Kusal Mendis is greater than what was expected. Mendis, who was Captain of Colombo Kaps in the LPL, was forced to retire hurt in the second match against Kandy Royals after facing just four balls.

Scans have revealed that he has a Grade 3C hamstring injury, which is going to take some time to heal, which rules him out of the two Tests against India.

In the absence of these two players, the national selectors will be looking to find replacements for them. Mendis keeps wickets in the Tests and bats lower down the order, while Nissanka opens the batting.

With Lahiru Udara having cemented his place as a Test opener, Nishan Madushka has been given an opportunity to come as replacement for Nissanka by being named in the 15-member squad to represent Sri Lanka Cricket (SLC) XI in the three-day warm-up match against India starting at the NCC Ground today.

By naming Anjala Bandara as the wicket-keeper in the squad, the selectors are most probably looking at him as a replacement for Kusal Mendis. Both Udara and Madushka can also keep wickets but in a Test match, when they are opening the batting, it is highly unlikely they will be asked to take on that role. Bandara had a very good season with the bat for CCC, scoring a double century in piling up 551 runs (avg. 60.28) with 20 dismissals behind the stumps.

What the selectors are looking at in Test cricket is for a wicket-keeper/batsman and not a batsman/wicket-keeper, which Sri Lanka have in plenty at the moment due to the evolution of T20 cricket.

Fast bowlers Lahiru Kumara and Vishwa Fernando are also named in the SLC XI squad. Both players are returning to competitive cricket from injuries and they will need to prove their fitness in this game if they are to put themselves in contention for selection for the Test series.

There are also some interesting choices where the spin bowlers are concerned, with off-spinner Ramesh Mendis still being persisted with and two other uncapped spinners, Kesara Nuwantha (off-spin) and Dilum Sudeera (left-arm spin), being named in the squad.

Ramesh Mendis, who captains Moors SC in the Major League three-day, is renowned more as a batsman than a bowler. In the recently concluded season, he took only 13 wickets in 10 matches at an average of 73.38, while with the bat he accumulated 671 runs at an average of 61.79.

Nuwantha, who plays for Badureliya CC, has shown a lot of control, capturing 5/159 off 50.3 overs when India ‘A’ amassed 543 in the second unofficial Test against Sri Lanka ‘A’ at Galle, while Sudeera has been a prolific wicket-taker in domestic cricket, ending last season at the top of the list with 61 wickets at an average of 25.11.

Sri Lanka are hard pressed to find a suitable bowling partner to their prime spinner Prabath Jayasuriya.

The performance of these players will come under the scrutiny of the national selectors over the next three days before they name the squad for the two Tests against India.

The SLC XI squad of 15 captained by Sonal Dinusha comprises:

Nishan Madushka, Ravindu Rashantha, Pasindu Sooriyabandara, Pavan Rathnayake, Ahan Wickramasinghe, Sonal Dinusha (Captain), Anjala Bandara (wicket-keeper), Nipun Dananjaya, Lahiru Kumara, Vishwa Fernando, Asanka Manoj, Isitha Wijesundara, Ramesh Mendis, Kesara Nuwantha, Dilum Sudeera.

Business leaders urged entrepreneurs to embrace collaboration, resilience, and disciplined adoption of artificial intelligence (AI) as BNI Sri Lanka unveiled plans to expand its membership beyond 5,000 to strengthen support for the country’s micro, small and medium-sized enterprise (MSME) sector at the BNI Sri Lanka National Conference 2026.

Addressing more than 400 delegates from Sri Lanka and overseas, including participants from India, Japan, Bahrain, and Taiwan, BNI Sri Lanka National Director Hemu Suvarna said the organisation aims to build a larger business referral network capable of creating greater opportunities for entrepreneurs across Sri Lanka.

‘We are on a mission to help Sri Lanka’s MSME sector grow to the next level and we are building a community where businesses help each other grow. Going forward, we are looking to grow BNI Sri Lanka to a position where more than 5,000 members come together, helping each other,’ Suvarna said.

Suvarna said BNI’s referral-driven model had already facilitated multi-billion-rupee business opportunities among its members and would continue expanding its presence across the country while strengthening entrepreneurial collaboration.

Echoing this vision, BNI Sri Lanka District Director Santhosh Radhakrishnan said the organisation’s referral-based business model had been its greatest strength during Sri Lanka’s recent economic challenges, enabling members to continue supporting one another through referrals and helping sustain business activity while strengthening long-term professional relationships.

Radhakrishnan added that BNI would continue strengthening existing chapters while expanding its footprint across Sri Lanka to create greater opportunities for entrepreneurs.

Over the past 12 months, BNI Sri Lanka generated Rs. 700 million in business through 2,033 referrals. The organisation currently comprises 468 members across 18 chapters and forms part of Business Network International (BNI), which operates in 78 countries with over 355,000 members.

The Conference also featured a fireside conversation with Odel and Embark Founder Otara Gunewardene, who encouraged aspiring entrepreneurs to stop waiting for the ‘perfect’ moment to launch a business, stressing that successful ventures are built by starting small, rather than delaying their ambitions until conditions appeared ideal.

‘There is no perfect time. Especially if you’re not experienced, it’s easier to start small and adapt as you learn,’ she said.

Drawing on her entrepreneurial journey, she also highlighted the importance of resilience, purpose, and continuous innovation in building sustainable businesses.

Delivering the keynote address, Zoho Corporation Director and Zoho Schools of Learning President Rajendran Dandapani focused on AI optimisation, urging businesses to adopt AI strategically rather than treating it as a universal solution.

Introducing his ABC Framework, Dandapani encouraged organisations to understand when to ‘Accelerate’, ‘Brake,’ and ‘Control’ the use of AI to maximise business value while maintaining human judgement in critical decision-making. He also urged organisations to ‘refuse the AI tax,’ cautioning businesses against paying a premium for AI solutions that fail to deliver measurable value.

The Conference concluded with awards recognising outstanding members, leadership teams, and chapters for excellence in referrals, business growth, and chapter performance through the BNI Connect platform. Awards were presented across categories, including Best Chapter, Lifetime Gold Club achievers, Highest Referrals Passed, and other individual and chapter achievements.

The United National Party (UNP) Working Committee has rejected the Government’s proposal to amend the Constitution and the Judiciary Act to extend the tenure of judges, arguing that the move would fail to address Sri Lanka’s mounting court backlog and runs contrary to recommendations made by the International Monetary Fund (IMF).

In a resolution issued yesterday, the UNP said reducing the backlog of an estimated 1.1 million cases was a national priority but maintained that extending judges’ retirement age was ‘not a solution’ to the problem.

The party pointed to the IMF Governance Diagnostic Assessment commissioned by the Ranil Wickremesinghe administration, saying the report identified structural and administrative weaknesses in the judicial system rather than judicial tenure as the principal cause of delays.

According to the IMF assessment, excessive delays in the courts impose significant costs on businesses, with banks and private sector institutions often reluctant to rely on the judicial system to enforce loan agreements. The report noted that contract enforcement in Sri Lanka typically takes six to seven years, while nearly 45,000 debt recovery cases remain pending in the Colombo District Court, where each of its 10 judges handles around 2,000 cases.

The assessment also found that District Judges manage about 2,000 cases annually, Magistrates more than 5,000 cases each year, and that commercial courts face critical shortages of support staff.

The UNP said the IMF had instead recommended establishing a dedicated special court to clear the backlog, streamlining court administration, strengthening judicial research support, expanding Alternative Dispute Resolution (ADR) mechanisms and reforming judicial procedures to accelerate case disposal. ‘The IMF evaluation did not recommend extending the tenure of judges,’ the party said, arguing that the Government’s justification for the proposed constitutional amendment was therefore unfounded.

The UNP called for the IMF report to be debated in Parliament before any constitutional changes are pursued, with the participation of the Attorney General, the Judiciary and the Bar Association of Sri Lanka to formulate a broader reform framework.

The party also urged the Government to prioritise filling vacancies in the Supreme Court and other courts and said the case backlog should be reduced by at least 300,000 to 400,000 cases as part of a wider judicial reform program.

The Working Committee resolved that the proposed constitutional amendment should be suspended pending broader stakeholder consultations, after which the Justice Ministry should present a comprehensive reform package. The UNP said it would fully support such a process.

President’s Special Envoy for Foreign Investment Hanif Yusoof yesterday said that Sri Lanka’s economic relationship with India has outgrown the existing Free Trade Agreement (FTA), calling for a modern framework that reflects the realities of today’s global economy.

Addressing the ‘India Calling’ forum, Yusoof noted that the Indo-Sri Lanka FTA, signed 25 years ago, had played a significant role in expanding bilateral trade, particularly Sri Lankan exports to India, but said it was designed for a ‘different era.’

‘The current FTA belongs to an earlier era of international trade,’ he said.

According to Yusoof, the global economy is no longer driven solely by the movement of goods. Instead, growth increasingly depends on services, technology, digital payments, logistics, clean energy, tourism, professional expertise, integrated supply chains, and the knowledge economy.

‘Our economic relationship must evolve beyond goods into deeper economic cooperation,’ he said.

Against this backdrop, Yusoof said negotiations on the proposed Economic and Technology Cooperation Agreement (ETCA) should be viewed as a ‘natural progression’ rather than a controversial departure from the existing trade framework.

He acknowledged that sections of the Sri Lankan business community have traditionally approached deeper economic integration with India cautiously, largely because of India’s size.

However, he argued that such concerns should not prevent Sri Lanka from capitalising on opportunities presented by its closest neighbour. ‘We should approach this conversation with confidence rather than fear,’ he said.

Yusoof also challenged what he described as a longstanding protectionist mindset, arguing that safeguarding national interests should not mean insulating the economy from competition and investment.

‘For too long, we have believed that protecting our national interest means protecting the wealth of a few at the cost of growing opportunities for the many,’ he said. ‘The question should not be how do we protect ourselves. The better question is how can Sri Lanka prosper?’

He opined that a modern economic partnership with India should create opportunities for Sri Lankan manufacturers, service providers, technology firms, and professionals to integrate into Indian value chains, while also encouraging greater Indian investment into Sri Lanka.

‘If we combine our geographic advantage with skilled people, competitive infrastructure, predictable regulations, and business-friendly policies, Sri Lanka can become an important platform in leveraging India’s growth,’ Yusoof said.

Doctors from Baby Memorial Hospital (BMH) India recently said scoliosis surgery has become significantly safer and more predictable in recent years, citing advances in real-time neuromonitoring, surgical navigation, and multidisciplinary treatment approaches.

The event, titled ‘Recent Advancements in Spine Surgery,’ featured BMH Hospital Cluster CEO Dr. Ananth Pai and Lead Surgeon – Scoliosis and Surgical Care Dr. Easwar Ramani.

Dr. Ramani said scoliosis, a condition characterised by a bend in the spine, is often more complex than it appears, noting that many children presenting with the condition suffer from associated health problems involving other systems, including the heart, lungs, legs or hip joints.

He said this complexity is why BMH follows a multidisciplinary team approach rather than relying on a single surgeon.

‘It needs not a single surgeon; it needs many doctors and specialists to treat scoliosis,’ he said, adding that procedures are coordinated across specialists when, for instance, a child requires hip surgery to balance the body before spinal intervention.

Addressing parental concerns over risks such as nerve damage or paralysis, Dr. Ramani said the hospital uses neuromonitoring technology that tracks nerve function throughout surgery and alerts doctors to potential risks to the spinal cord.

‘Navigation systems, which he compared to GPS, allow surgeons to track the exact placement of titanium screws and implants in real time, while intraoperative X-rays confirm correct implant positioning before surgery concludes. These technologies, combined with the hospital’s experience treating thousands of cases, have made complex spine surgeries considerably safer.’

For younger patients, Dr. Ramani said the hospital uses growing rods for children as young as four and a half years old, which are adjusted through small incisions as the child grows until a permanent procedure is performed around age 12.

‘Surgery is not always necessary, and that non-surgical treatments such as specialised braces, physiotherapy, and exercises are used depending on the severity of the spinal curve. I appeal parents to monitor children aged 7 to 12, particularly during growth spurts, for early signs of scoliosis such as uneven shoulders or hips, a protruding shoulder blade, or a visible hump when bending forward. Identification often allows treatment through braces alone, avoiding surgery,’ Dr. Ramani added.

Dr. Pai, speaking on the hospital’s four-decade history and its ties to the Sri Lankan community, framed BMH’s approach around the concept of service, which he said is a term shared across several regional languages. It means we stand for providing service to anybody, he said.

‘BMH is a 650-bed institution equipped for procedures ranging from advanced transplants to specialised paediatric spine surgery. We have invested very heavily on the latest technology, which you will find in any of the large metropolitan hospitals, or even in Europe or in the US.’

Dr. Pai also outlined financial and logistical support measures for Sri Lankan patients travelling for treatment, saying the hospital’s costs are lower than comparable care elsewhere.

‘From an affordability perspective, we are significantly cheaper in the cost of treatment compared to anywhere else in the world,’ he said, adding that families facing financial hardship would be treated at 20% lesser than our actual cost and that for those unable to arrange travel, the flight tickets, travel, and stay will be sponsored by the hospital as a part of giving back to the society. The hospital arranges air-conditioned transport for patients from Cochin to its facility,’ he said and maintaines that contact with families in Sri Lanka after treatment could be done through regular visits and consultations by phone and WhatsApp.

Thw BMH doctors described treatment as an ongoing process rather than a single operation, with reviews at three- and six-month intervals.

‘It is just like getting treated in Sri Lanka,’ Dr. Ramani said, referring to the continuity of consultation and long-term care provided to patients from the island.

Baby Memorial Hospitals is the founding healthcare brand of BMH Group and one of Kerala’s established multi-speciality hospital networks. With a legacy dating back to 1987, the brand today spans hospitals across multiple locations in Kerala, delivering advanced tertiary care across key specialties. Anchored by its flagship hospital in Kozhikode, Baby Memorial Hospitals is home to the Nava Cancer Institute and offers comprehensive diagnostic and treatment modalities backed by advanced technology, including robotic surgery systems, LINAC, and PET-CT. The network also has a strong academic and training focus, with DNB and fellowship programs, nursing education, and a long-standing commitment to building clinical talent alongside patient-centred care.

The Sri Lanka Ports Authority (SLPA) athletic team emerged runners-up at the 54th Nationalised Services Athletics Championship held on 30 and 31 July 2026 at Sugathadasa Stadium. They secured this victory by winning a total of 71 medals, including 28 Gold, 33 Silver, and 16 Bronze medals.

C.P. Weerasinghe of the Welfare and Industrial Division of SLPA was awarded the Best Athlete of the Tournament (Overall), while A.C.D. Kumara of the Security Division of SLPA, was selected as the Best Athlete in the Champion Category.

Additionally, in the age-category awards, C.P. Weerasinghe of the Welfare and Industrial Relations Division was named the Best Athlete in the 30-35 Age Group (Men’s), and W.N.M. Rodrigo of the Engineering (Mechanical Plant) Division of SLPA won the Best Athlete in the 30-35 Age Group (Women’s). The Ports Authority team notably secured several top individual performance awards across various age categories throughout the championship.

Sri Lanka has largely restored macroeconomic stability, but sustaining the country’s recovery will depend on whether it can build domestic consensus for politically difficult structural reforms, attract stronger private investment, and maintain policy continuity beyond election cycles, according to former Planning Commission of India Deputy Chairman Montek Singh Ahluwalia.

Drawing repeatedly on India’s own reform experience rather than prescribing solutions for Sri Lanka, Ahluwalia said countries emerging from economic crises often mistook macroeconomic stabilisation for recovery, when it merely created the conditions for the harder task of lifting long-term growth.

Speaking at the ‘India Calling’ forum organised by the Lanka India Business Association yesterday, the architect of India’s 1990s economic reforms said structural reform inevitably became politically contentious because it redistributed costs and benefits across the economy, creating winners and losers even when it raised overall growth.

‘So we need the stability, but we also need to get much closer to what is our real growth potential. That’s where structural reform comes in,’ he said.

‘If you want a better growth rate than that, then you have to go down the structural reform route, which has to be slapped onto, in addition to macroeconomic stability,’ Ahluwalia added.

Using India’s experience as an illustration, Ahluwalia said reform programs were more likely to succeed when they were shaped through domestic debate rather than being perceived as externally imposed.

‘That’s why you need an internal debate so that people realise that these are issues that have been thoroughly discussed. There still are uncertainties. You won’t convince everybody. But at least they won’t say this has been imposed from outside,’ he said.

He recalled advising during Sri Lanka’s election period against abandoning the International Monetary Fund (IMF)-supported reform program, arguing that international institutions continued to influence investor confidence in smaller economies.

‘If you’re in a period of macroeconomic stability, you need world markets to think that Sri Lanka is on the right track. Whether we like it or not, if you’re a small economy, people will tend to look at ‘what does the World Bank say?’ ‘What does the IMF say?” I’m really glad that, in spite of that uncertainty, the Government decided not to cancel the program,’ he said.

Ahluwalia said Sri Lanka had now reached a different stage of recovery. ‘The return of macro stability in Sri Lanka is not in doubt. But you have a much bigger challenge now, which is, what about structural reforms for growth?’

He suggested the next measure of Sri Lanka’s progress would not be macroeconomic indicators alone but whether domestic businesses regained the confidence to invest, noting that foreign investors closely watched local investment behaviour before committing capital.

‘Most foreigners, when they’re looking at countries, are quite impressed with macro stability. I think you have that. Booming private investment. That you don’t have yet,’ Ahluwalia said.

‘Remember, foreign direct investment (FDI) is more likely to come in if domestic private investment goes up. Because the general assumption is that these private guys know more about the economy than we do. So if they’re not investing in their own country, there must be something wrong,’ he added.

Although stressing that he was not offering a blueprint for Sri Lanka, Ahluwalia encouraged policymakers to study reform debates taking place in neighbouring economies, particularly efforts to reduce unnecessary regulation, simplify compliance, and improve the ease of doing business.

He said regional comparisons could often be more persuasive than comparisons with advanced economies.

‘You have to ask yourself, do you want a more restrictive set of conditions for labour than, let’s say, Vietnam, Malaysia, Thailand? And if you do, then don’t be surprised that people would prefer to go there rather than come here. If you tell them that this is what Thailand is doing, this is what Malaysia is doing, this is what Indonesia is doing, then the argument becomes very powerful,’ he said.

Ahluwalia also argued that governments alone could not drive reform, urging businesses to participate openly in policy development while encouraging political leaders to preserve credible economic policies across administrations.

‘I don’t think business people can sit back and think that there is some wonderful process that will ensure that the right policy will come out. They have to be actively pushing for them. The worst thing they can do is to cancel all the projects that were done by the previous Government. That is a guarantee of not having private investors,’ he said.

Ahluwalia said Sri Lanka should avoid searching for a single reform to accelerate growth, arguing that the country’s next phase of development depended instead on identifying a handful of critical structural constraints and addressing them systematically over the next five to 10 years while preserving macroeconomic stability.

‘Let’s be clear, macroeconomic balance is a precondition. I don’t think you should come to the position that you become so strong now that you don’t have to care about macro,’ he said.

Drawing on India’s experience rather than prescribing a blueprint for Sri Lanka, he said policymakers should identify the reforms most critical to lifting medium-term growth, pointing to land, labour regulation, ease of doing business, liveable cities, and infrastructure financing as areas that deserved priority attention.

He also encouraged Sri Lanka to benchmark its reforms against Indian States such as Tamil Nadu, Karnataka, Telangana, and Kerala, arguing that regional comparisons could provide more practical lessons than looking only at advanced economies.

Ahluwalia said economies seeking higher growth also needed to examine whether they remained overly protected from competition, cautioning that excessive trade barriers could ultimately undermine export competitiveness.

He suggested land had become a significant constraint in both India and, from his discussions, potentially Sri Lanka, urging policymakers to make it easier for businesses to access land without abandoning appropriate safeguards.

‘You need to give very high-level attention to how can you sufficiently deregulate land, so that people five years from now say that land was a big problem and it’s now only a small problem. It’ll never go away,’ he said.

He also cautioned against designing investment policies that favoured foreign investors over domestic firms, arguing that removing structural bottlenecks would benefit both.

‘I don’t think you should make the mistake of thinking that all you need to do is target foreign investors and give them favourable terms vis-à-vis domestic investors. If you fix the land constraint, it’s the domestic investors who will benefit almost immediately. Foreign investors will benefit,’ Ahluwalia said.

Ahluwalia added that with limited fiscal space, Sri Lanka should also make greater use of public-private partnerships (PPPs) to finance commercially viable infrastructure projects, allowing scarce public resources to be directed towards areas where private capital was unlikely to invest, while maintaining the macroeconomic discipline needed to sustain investor confidence.