Category: Daily Financial Times

LOLC Divi Saviya yesterday renewed its commitment to help Sri Lanka recover from Cyclone Ditwah impact with the launch of ‘Obai Mamai Ape Ratai’ (You, Me, and Our Motherland) initiative.

With an investment exceeding Rs. 400 million, LOLC Divi Saviya ‘Obai Mamai Ape Ratai’ represents one of the largest and most comprehensive corporate-led efforts in Sri Lanka focused not only on relief, but on restoring dignity, stability and hope. This commitment to responding decisively in times of national adversity is rooted in the legacy of Divi Saviya’s earlier interventions.

The ‘Obai Mamai Ape Ratai’ programme has been structured as a comprehensive, end-to-end programme addressing relief, recovery, and resilience. It will be implemented in three carefully planned phases.

Phase one focuses on immediate relief through the distribution of specially designed family super packs containing rations and essential non-food items for displaced families. Phase two advances recovery through a major renovation drive to upgrade educational infrastructure across 200 schools island-wide. Phase three addresses the most critical need, the complete reconstruction of a few selected schools that were entirely destroyed creating fully functional learning environments from the ground up. This holistic initiative will not only rebuild physical structures but also equip schools with all necessary facilities, ensuring a sustainable and future-ready educational ecosystem for the nation.

Phase one beneficiaries include families displaced by floods and landslides who are currently residing in temporary shelters across six districts: Badulla, Matale, Kandy, Nuwara Eliya, Ratnapura and Kegalle.

Each relief family super pack has been thoughtfully assembled to meet the living conditions and urgent needs of these families. Each pack provides comprehensive relief supporting a family unit for over two weeks. The packs include essential food items such as rice, dhal, sugar, soya, canned fish, and milk powder, as well as vital non-food items including bedsheets, towels, pillows, mats, undergarments, personal hygiene products, and mosquito nets.

Phase one of LOLC Divi Saviya ‘Obai, Mamai, Ape Ratai’ was ceremonially inaugurated yesterday at the LOLC Head Office with the participation of Group Managing Director/CEO Kapila Jayawardena, and officials of the Disaster Management Centre. The first family super pack was officially handed over to the MTV Channels which is a partner to this initiative.

Jayawardena said: ‘LOLC, as a brand of the people and for the people, has always stepped forward in times of national need. Through Divi Saviya, the Group has once again demonstrated the responsibility of a true corporate citizen. Since its inception in February 2022, Divi Saviya has continuously stood with our people, making this the largest humanitarian initiative undertaken by a corporate to date.’

Defence Ministry Additional Secretary, Disaster Management Division K.G. Dharmatilake said: ‘LOLC Holdings has once again demonstrated what it truly means to be a responsible Sri Lankan corporate citizen. Through initiatives such as Divi Saviya, the Group has set a benchmark for the corporate sector, demonstrating that business excellence can, and must, go hand in hand with compassion, social responsibility, and stewardship of the environment. We are thankful to LOLC Holdings for leading by example and for the support provided to the nation.’

The launch of the ‘Obai Mamai Ape Ratai’ program ensures that the aid reaches the most in need. A comprehensive island-wide survey has been conducted by MTV Channels Ltd., the infrastructure facilitator of LOLC Divi Saviya in collaboration with the respective Divisional Secretariats and Disaster Management Centre (DMC). Under the supervision of relevant authorities, the project team has identified severely affected families, 200 damaged schools, and several completely destroyed schools. All findings were verified by government bodies, ensuring the initiative reaches the right beneficiaries efficiently and transparently, laying the foundation for a targeted and accountable relief effort.

LOLC has long stood as a symbol of compassion and solidarity, stepping forward whenever Sri Lanka and its people face moments of hardship. Its flagship Divi Saviya reflects a deep understanding of both the immediate and long-term needs arising from widespread floods and landslides that have affected thousands of families and disrupted education across several regions.

The Divi Saviya was first brought to life through ‘Jeewithaya Dinannata’ (To Win Life), which provided dry rations to communities affected by the global pandemic for over 100 days, reaching 125,000 families with a total investment of Rs. 500 Million. This was followed by ‘Daye Daruwange Anagathaya Wenuwen’ (On Behalf of the Future of the Nation’s Children), launched amid the economic crisis when schools were experiencing closure due to rising dropout rates. It supported 296,000 students across 4,090 schools, covering nearly 40% of Sri Lanka’s total school population, with an investment of Rs. 2.5 billion.

Salagama Tamil School, Matale damaged from landslides will be covered under the 200 school renovation project in phase two

Sri Lanka’s recent natural disaster has evolved beyond a humanitarian emergency into a systemic economic shock, affecting households, businesses, infrastructure, public finances, and growth prospects simultaneously. With approximately 17,648 housing units identified as uninhabitable by the National Building Research Organisation (NBRO), large-scale displacement and livelihood disruption have placed significant pressure on the economy. While Sri Lanka’s nominal GDP stands at around $100 billion and the economy has shown a recovery growth trend of 4%-5% during 2024-2025, the disaster threatens to moderate short-term growth to around 3% unless recovery measures are implemented effectively.

The Government’s proposed Rs. 500 billion supplementary estimate represents a stabilisation investment, rather than discretionary spending, aimed at immediate humanitarian relief, economic reactivation, and resilient reconstruction. Drawing on international experience, in particular Japan’s ‘Build Back Better’ approach, Sri Lanka has an opportunity to transform this crisis into a structural reset by prioritising science-based planning, climate-resilient infrastructure, transparent fiscal management, and integrated livelihood recovery. Properly executed, the recovery program can safeguard growth, restore confidence, and strengthen long-term economic resilience.

Sri Lanka’s Rs. 500 billion recovery plan and the strategic case for ‘Build Back Better’

Natural disasters are often described as temporary humanitarian crises. However, for developing economies with limited fiscal space and fragile growth trajectories, disasters frequently evolve into long-lasting economic shocks. Sri Lanka’s recent natural disaster is a textbook example of how a climate-driven event can escalate into a systemic shock, simultaneously disrupting households, businesses, infrastructure, public finances, and future growth prospects.

The Government’s proposal of a Rs. 500 billion supplementary estimate must therefore be analysed not merely as emergency relief, but as a macro-economic stabilisation measure and a strategic recovery investment. The choices made now will determine whether Sri Lanka enters a cycle of repeated disaster losses or moves decisively toward a more resilient economic model.

Understanding the nature of the shock: Beyond a humanitarian crisis

Household shock: sudden loss of housing, assets, and income

Enterprise shock: interruption of production, trade, and services

Infrastructure shock: damage to transport, power, water, and irrigation systems

Fiscal shock: declining revenues alongside unplanned expenditure

Growth shock: slowdown in output, investment, and consumption

A systemic shock refers to an event that simultaneously disrupts multiple interlinked systems, triggering cascading failures that cannot be addressed through isolated, sector-specific interventions. In Sri Lanka’s case, the recent disaster generated a series of interconnected shocks-at the household level through the sudden loss of housing, assets, and income; at the enterprise level through the interruption of production, trade, and services; across infrastructure through damage to transport, power, water, and irrigation systems; and within public finances through declining revenues alongside unplanned expenditure. These disruptions collectively translated into a growth shock, slowing output, investment, and consumption at a time when economic recovery from previous crises remains fragile. As a result, the disaster’s impact extends well beyond immediate humanitarian concerns, undermining economic momentum and highlighting the need for a coordinated, system-wide recovery response.

Disruptions collectively translated into a growth shock, slowing output, investment, and consumption at a time when economic recovery from previous crises remains fragile. As a result, the disaster’s impact extends well beyond immediate humanitarian concerns, undermining economic momentum and highlighting the need for a coordinated, system-wide recovery response

Human and social impact: The foundation of economic stability

The most immediate impact of the disaster was human. Thousands of families were displaced, either due to direct destruction of homes or because dwellings were declared unsafe. Children’s education was interrupted, access to healthcare became constrained, and vulnerable groups, including the elderly, persons with disabilities, and daily wage earners, faced heightened insecurity.

From an economic standpoint, social stability is not separate from growth. Housing insecurity and income loss reduce labour productivity, discourage workforce participation, and increase long-term dependence on State support. The longer displacement continues, the greater the risk of entrenched poverty and social fragmentation.

Evidence-based housing decisions: The NBRO’s critical role

The National Building Research Organisation (NBRO) has introduced a crucial element often missing in post-disaster recovery which is science-based decision-making.

NBRO assessments identified:

6,228 houses as completely destroyed

4,543 houses as partially damaged and unsafe

6,877 houses as physically intact but geologically unsafe

This brings the total number of uninhabitable homes to 17,648.

International experience shows that ignoring geological risk assessments is fiscally reckless.

Rebuilding in unsafe zones leads to:

Recurrent loss of public investment

Escalating insurance and compensation costs

Preventable loss of life

Countries such as Japan and New Zealand have demonstrated that relocation, though politically difficult, significantly reduces long-term disaster costs.

Livelihood disruption and MSMEs: The economic backbone under stress

The disaster’s economic impact was most severe at the livelihood and enterprise level. Agriculture, fisheries, tourism, transport, and construction were directly affected. Particularly vulnerable were Micro, Small and Medium Enterprises (MSMEs), which account for a substantial share of employment and regional economic activity in Sri Lanka.

MSMEs typically operate with:

Limited cash reserves

High dependence on daily turnover

Minimal insurance coverage

As a result, even short disruptions can lead to permanent closures. Cash-flow interruptions force households into debt, weaken consumer demand, and reduce tax collections, further amplifying fiscal pressure.

Macroeconomic implications: GDP, growth and fiscal pressure

Sri Lanka’s nominal GDP is currently estimated at approximately USD 100 billion, with real growth of around 4%-5% during 2024-2025, reflecting a gradual recovery from the 2022-2023 economic crisis.

Natural disasters however exert downward pressure on short-term GDP growth through:

Reduced agricultural and industrial output

Lower household consumption

Deferred private investment

Disruptions to tourism and services

As a result, growth in the current year may moderate toward around 3%, unless recovery spending is timely and effective.

At the same time, reconstruction expenditure can provide a counter-cyclical boost if properly managed by supporting employment, domestic demand, and supplier industries. The long-term GDP outcome will depend on the quality of rebuilding, not merely the volume of spending.

For developing economies with limited fiscal space and fragile growth trajectories, disasters frequently evolve into long-lasting economic shocks. The Government’s proposal of a Rs. 500 billion supplementary estimate must be analysed not merely as emergency relief, but as a macro-economic stabilisation measure and a strategic recovery investment

The Rs. 500 billion supplementary estimate: A stabilisation imperative

From a public finance perspective, the Rs. 500 billion supplementary estimate addresses a structural mismatch. The annual budget is designed for normal conditions, not systemic shocks.

The allocation targets three overlapping priorities:

1. Immediate humanitarian relief

2. Economic and livelihood reactivation

3. Reconstruction of housing and critical infrastructure

Delaying or underfunding recovery would deepen output losses, prolong unemployment, and ultimately worsen fiscal deficits. In this context, the supplementary estimate functions as a stabilisation investment, aimed at preventing a deeper and more prolonged economic downturn.

Targeted social protection: Temporary support with long-term intent

The decision to provide Rs. 50,000 per month for three months to affected households reflects a targeted and time-bound approach to social protection.

This assistance:

Prevents immediate descent into poverty

Supports consumption during displacement

Buys time for permanent housing and livelihood solutions

Crucially, the fixed duration and eligibility criteria ensure that support complements, rather than replaces, economic recovery and self-reliance.

Global lessons: How other countries rebuild smarter

Japan

Japan’s post-disaster recoveries emphasise strict zoning, resilient construction standards, and long-term planning. Reconstruction is slower initially but significantly reduces future losses.

The Netherlands

Facing chronic flood risk, the Netherlands invests heavily in prevention with integrated water management, adaptive land use, and resilient infrastructure thereby treating disaster resilience as economic policy.

New Zealand

Following major earthquakes, New Zealand combined transparent funding mechanisms, community engagement, and long-term urban redesign, restoring investor confidence and economic stability.

The common thread, that resilience is cheaper than repeated reconstruction, is clear.

What ‘Build Back Better’ means for Sri Lanka

For Sri Lanka, ‘Build Back Better’ must translate into:

Binding use of NBRO risk assessments

Climate-resilient infrastructure standards

Integrated housing and livelihood planning

Transparent fund management and audit trails

Alignment of disaster recovery with national development goals

Rebuilding yesterday’s vulnerabilities would merely postpone the next crisis.

Conclusion: A national reset opportunity

Sri Lanka is at a defining moment. This disaster must be viewed not merely as an emergency to be managed, but as a decisive test of national resolve, institutional strength, and economic leadership. If executed with transparency, technical discipline, and a people-centred approach, the Rs. 500 billion recovery program can do far more than repair damage. It can re-anchor economic stability, shield vulnerable households, restore investor confidence, and reposition the country on a path toward resilient and inclusive growth. International experience leaves little room for doubt. Disasters themselves may be inevitable, but prolonged economic decline is a choice. With the right policies and decisive execution, Sri Lanka has a rare opportunity to convert crisis into reform and rebuild not just what was lost, but what is required for a stronger future.

Switzerland has extended support to the Sri Lanka Red Cross Society to provide immediate humanitarian assistance to communities affected by Cyclone Ditwah.

Siam City Cement (Lanka) Limited, INSEE Cement, was honoured as the Winner in the Manufacturing sector at the inaugural CIPM Great HR Awards 2025, organised by the Chartered Institute of Personnel Management (CIPM) Sri Lanka in collaboration with global HR consulting leader Mercer.

The prestigious accolade recognizes INSEE’s outstanding contribution toward elevating human resources practices through consistent, progressive, and people-centered initiatives prioritizing capability development, employee wellbeing, and sustainable organizational growth. Moreover, the award acknowledges INSEE’s achievements internally and the influence in raising HR standards for Sri Lanka’s manufacturing sector.

Thusith C. Gunawarnasuriya, Chief Operating Officer, Siam City Cement (Lanka) Limited, said, ‘Recognition at the inaugural CIPM Great HR Awards 2025 is a proud moment for all of us at INSEE Cement. It reinforces our belief that people are the true drivers of organisational excellence. Our commitment has always been to create an environment where every employee feels empowered, supported, and inspired to grow. The award reflects the dedication of the HR teams and business leaders who work tirelessly to build a culture anchored in learning, safety, wellbeing and accountability.’

As Sri Lanka’s leading and only fully integrated cement manufacturer, INSEE Cement supports the country’s construction landscape with a comprehensive portfolio of building materials. It is anchored with a strong focus on sustainability and purpose-led brand promise, ‘Build for Life’, a philosophy extending beyond products and operations to fundamentally shape an approach to talent management, organizational culture, and people development.

INSEE Cement’s people strategy places equal emphasis on capability and care, recognizing organizational success is built on the foundation of employee development and wellbeing. The company has invested significantly in progressive HR practices covering talent development, leadership capability building, performance and reward systems, employee wellbeing initiatives, and organizational health and safety programs. These initiatives are designed to strengthen individual and team performance, cultivating a workplace where employees genuinely feel valued and inspired to contribute their best.

The company’s comprehensive HR framework includes structured leadership development pathways, robust succession planning frameworks, advanced learning platforms, and holistic wellbeing programs designed to nurture talent at every stage of the employee journey including onboarding to senior leadership roles.

The long-term, consistent commitment has enabled INSEE to build an organizational culture where learning, accountability, collaboration, and continuous improvement are embedded into everyday work, driving both employee satisfaction and business performance.

The company’s competitive advantage is sustained through the capability of the people, and the award affirms the strategic investments made in creating an environment where talent can flourish. From the frontline workers to senior management, INSEE’s approach offers every employee access to development opportunities, support systems, and pathways for growth. Focussing on the future, the company aims to continue to pioneer HR innovations strengthening organizational resilience and supporting the evolving needs of the workforce.

Launched as Sri Lanka’s newest platform dedicated to honouring HR excellence, the Great HR Awards 2025 recognizes organizations demonstrating innovation, resilience, and deep commitment to their people in multiple dimensions including people strategy, capability development, leadership development, employer branding, technology adoption, and industrial relations. The awards aim to raise the bar for the future of work in Sri Lanka.

The awards followed a rigorous, multi-stage evaluation process led by CIPM and Mercer, supported by a distinguished panel of eminent HR and business leaders from several industries. The comprehensive assessment included a detailed written application, thorough evaluation of HR strategy and governance frameworks, in-depth review of employee lifecycle programs and processes, and the careful scrutiny of measurable business and people impact metrics. For the INSEE HR team, the journey served as a valuable benchmarking opportunity against national and international standards, providing insights into areas of strength and opportunities for further enhancement.

Looking ahead, INSEE Cement remains focused on deepening its impact by embedding data-driven insights into people decisions, enhancing the end-to-end employee experience, and partnering closely with business leadership to drive sustainable growth and long-term value creation.

In a significant step toward accelerating Sri Lanka’s digital transformation, eMudhra, a global leader in digital identity and security solutions, has entered into a strategic partnership with LankaSign the only Certification Service Provider (CSP) in the country that complies with the Electronic Transactions Act No. 19 of 2006, operated by LankaPay, Sri Lanka’s national payment network.

The LankaSign-eMudhra partnership brings together the strengths of LankaPay’s legally recognised digital signing certificates issued via LankaSign-the pioneering digital Certification Service Provider in Sri Lanka established in 2009-and eMudhra’s globally trusted emSigner platform, which has enabled secure digital document signing across more than 68 countries since 2008. Through this collaboration, Sri Lankan citizens and businesses will be able to experience a seamless, secure, and user-friendly digital signing solution, enabling documents to be signed anytime, anywhere using iOS, Android, or web-based applications.

This partnership with eMudhra aligns with the national agenda to promote adoption of digital documents, reduce dependency on paper-based processes, and facilitate a more efficient, transparent, and secure digital economy. This collaboration aims to support the Government’s long-term digitalisation roadmap by enabling a secure digital documentation layer essential for e-Government services, digital finance, and digital transformation.

LankaPay CEO Channa de Silva said: ‘The collaboration marks a significant milestone in Sri Lanka’s journey toward a digitally empowered society. By combining the trusted local acceptance of LankaSign digital signing certificates with eMudhra’s advanced signing platform, emSigner, we aim to make digital signatures more accessible and widely adopted across the country. The solution’s multi-operating system compatibility will offer unparalleled convenience, enabling users to sign documents seamlessly via smart mobile devices and web-based applications. This partnership is expected to accelerate the adoption of digital signatures and provide renewed momentum to the nation’s digital transformation efforts.’

eMudhra Co-founder Kaushik Srinivasan said: ‘Our partnership with LankaPay reinforces eMudhra’s commitment to enabling trusted digital ecosystems that bring identity, authentication, and signing together in a secure, compliant way. With emSigner now integrated with LankaPay, Sri Lankan citizens and organisations can experience the ease of executing legally valid digital transactions, paving the way for a truly paperless and efficient digital economy.’

With the rollout of the LankaSign emSigner solution, Sri Lanka is set to experience a new wave of efficiency and enhanced security in digital interactions through the adoption of legally valid digital signatures for Government, corporate, and individual users. The solution also ensures seamless cross-platform accessibility via iOS, Android, and web interfaces.

Showcasing Sri Lanka’s readiness to re-enter the global entertainment arena, the three-time Grammy award-winning R and B star Ne-Yo is set to kick off his South Asia tour from Colombo on 28 December. The show, produced by Brown Boy Presents, marks one of the biggest international performances the country has hosted in years. For an industry that has struggled with instability, inconsistent infrastructure, and limited global exposure, the event is a statement that the market is ready to grow again. Daily FT recently spoke with Brown Boy Presents CEO Amith Boteju who discussed why Ne-Yo chose Sri Lanka, what this landmark concert could mean for the country’s economy, entertainment sector, and international profile.

By Divya Thotawatte

Q: What made NE-YO choose Sri Lanka for a concert now?

A: I am a personal friend of Ne-Yo. For the past 10 plus years we have travelled around the world together, done different kinds of business deals, built value, and more importantly, built a real friendship.

He knows I am from Sri Lanka and how much pride I take in my country. Every time I talk about my beautiful island, he always says he wants to come visit. He loves nature, he loves seeing new things, and it just so happens that he is a legendary artist. So, I wanted to knock two birds with one stone.

I told him I have always had dreams and aspirations of bringing artists like him down to our country. He is such a legend in the music business, has been doing music for so long, and has so many hits. I told him one day I will make this happen, and here we are.

Q: Regarding Sri Lanka’s recent challenges, what is the main message you want to send with this concert about the country’s recovery and readiness for global entertainment?

A: Sri Lanka is ready to move forward. We have always been a country of strength. We have always risen from trials and tribulations. This concert shows what can happen when everyone comes together.

A three-time Grammy award-winning R and B artist performing in Sri Lanka is a big deal. It is about being positive, showing life, and showing love, while also respecting and acknowledging the hardships the country has gone through.

I have experienced tragedy myself and I believe the best way to honour the past is by rising, by empowering people, and showing the world that Sri Lanka is up and running. It is a beautiful country with so much potential, and these are exciting times.

Q: What does hosting an artist of NE-YO’s calibre say about Sri Lanka’s current capacity to organise major international events, and what preparations have you made in terms of logistics, security, and production to ensure the concert meets international standards?

A: Bringing artists of any calibre takes a lot of effort and relationship-building. You must go through the entire checklist and build the infrastructure properly. NE-YO is a partner and owner of Brown Boy Presents together with me and Champike and we’re here to build the entertainment sector of Sri Lanka.

The technical riders have been handled by highly experienced professionals like Vinod and Shrimal who have been doing this for over a decade. From my conversations with them it’s clear they have extensive experience, including doing major concerts in other countries.

About 90-95% of the equipment requested on Ne-Yo’s rider is already available in Sri Lanka. That alone shows we have the capability to host international-level events. Our partners Shrimal and Vinod have even invested in certain high-end equipment that was not available in Sri Lanka just to meet the needs of this concert.

For crowd control and safety, we have barricades, police support, Government backing, and professional security teams in place throughout the stadium. From VVIP to General Audience, our goal is for everyone to feel valued and feel that their ticket was worth every rupee.

We want people to walk away saying the experience exceeded expectations. This is my first large-scale event in Sri Lanka with my team, and while it’s been challenging, I love challenges. Nothing great comes easy.

There are many silos in live music and show business, and the economics must make sense. We have worked hard to check all those boxes.

Q: What economic benefits do you expect, especially in terms of tourism, jobs, local vendors and hospitality?

A: We have already seen a strong economic impact. Around 2,000 ticket buyers are expats or international attendees. Nearly 10% of our revenue is coming from outside Sri Lanka, which is a major milestone.

There is no blueprint for this. We are building as we go. We will make mistakes but the goal is to show the world that Sri Lanka is a destination worth visiting with full of opportunity and potential.

In terms of jobs, I am less focused on employment numbers and more focused on knowledge transfer. We have almost 200 volunteers, paid staff, collaborators, and freelancers, basically a small army of music lovers and what matters most is that they gain international-level experience. Q: What impact do you expect this concert to have on Sri Lanka’s entertainment industry and live-event scene?

A: When someone can say, ‘I worked on a Ne-Yo concert,’ that confidence and knowledge stays with them for life. That experience is more powerful than just a job title.

I believe this will create a series of impacts. First and foremost, Ne-Yo’s South Asia tour is kicking off in Sri Lanka. That alone shows the level of love and commitment he has, not just as an artist, but as a friend who genuinely wants to experience the country.

Yes, this is relationship-based and strategic, but even if I wasn’t involved, a Ne-Yo concert on its own would still be massive. It just so happens that he has a good friend who lives in LA and is deeply connected to Sri Lanka.

This concert will help set up 2026 for even bigger opportunities. It opens doors for other international artists touring South Asia to include Sri Lanka as a stop. There are also opportunities to work with global companies like Live Nation, which controls a large part of international touring.

When you build infrastructure, whether it is at Sugathadasa stadium or elsewhere, that foundation can last for decades as long as people continue building on it. My goal is to empower people, especially youth and future leaders, so they can take this further than where I bring it.

Q: Beyond the concert itself, what experience do you want visiting artists to have when they come to Sri Lanka?

A: I want artists to experience Sri Lanka beyond the stage: tourism, nature, the history, the culture. From safaris and wildlife to historical landmarks, there is so much to showcase. The Tourism Board has been very supportive, and we are grateful for that. Once we build this infrastructure and prove what is possible with NE-YO, we can confidently tell other artists: look what we did here. This isn’t just about a concert. It is about experiencing a beautiful island, incredible hospitality, and warm people.

Q: How big is this show compared to other international concerts we have hosted before?

A: I don’t really like comparing. I wouldn’t put myself in a position to judge past efforts because I don’t fully know the journeys, challenges, or partnerships that other promoters went through.

My focus is very simple: making sure NE-YO’s concert happens at the highest level and that fans have an unforgettable experience. Ne-Yo has an incredibly loyal global fanbase. People follow him across countries-Spain, Mexico, Africa-wherever he performs.

Some of those fans are coming to Sri Lanka just for this concert. That means they are not only spending money on tickets but also on hotels, travel, food, and experiences, especially during the peak December season. People are hungry for this kind of entertainment. It starts with infrastructure and foundation, and from there, the rest becomes history.

Q: Are there long-term plans to bring in more international acts if this goes well?

A: Yes, absolutely. For 2026, we have a few artists in mind: Steve Aoki, Akon, and Nelly. Akon is my mentor and bringing him to Sri Lanka is something people would absolutely love. These are all legendary artists. We will see how the market responds and continue delivering top-class entertainment consistently.

Q: What challenges did you face in making this concert happen, and how did you overcome them?

A: There were many challenges. Bringing an event of this scale to Sri Lanka is not easy. There are other promoters and companies who have tried for years and consistency has always been the challenge.

As a businessman, I understand competition, but there were moments where people questioned our capability and even tried to discourage sponsors. Despite that, we have been here since February and now we’re just days away from the concert.

I welcome challenges. I am not here to monopolise the entertainment sector or take business from anyone. I am here to empower, collaborate, and build partnerships across the private sector, government, and creative community and be a major player in the wider entertainment industry working hand in hand with the competition. That is how an industry should work and thrive. This can only grow if we work together. I am here to learn, share knowledge, and help take Sri Lanka’s entertainment industry to the next level.

Pyramid Wilmar, one of Sri Lanka’s most progressive and influential corporate entities in the food manufacturing and marketing sector has donated a sum of Rs. 50 million to the Presidential Secretariat to aid the Government’s relief effort towards the victims of the recent Ditwah cyclone.

Pyramid Wilmar Ltd. Group Managing Director M. Sajjad Mawzoon said, ‘The devastation that took place throughout the country due to the recent cyclone has left everyone in a vulnerable situation. For some who lost their loved ones, life will not be the same. In light of all affected individuals and families, we stand with the people of Sri Lanka as the country begins to recover and rebuild from this existential challenge. Our commitment is to change life for the better.’

Pyramid Wilmar remains committed to its mandate for social responsibility, ensuring support for communities during times of crisis.

The ruling National People’s Power (NPP) has failed to secure approval for the Colombo Municipal Council (CMC) Budget, which was voted down, with 57 members supporting the proposal and 60 voting against it.

Sri Lanka will launch its new National Export Development Plan (NEDP) for the 2026-2030 period in January 2026, Export Development Board (EDB) Chairman Mangala Wijesinghe said yesterday, outlining an ambitious roadmap to reposition the country as a stronger player in global trade.

He said the forthcoming plan builds on lessons from the National Export Strategy (NES) implemented between 2018 and 2022, while responding to changing global trade dynamics and the country’s post-crisis economic priorities.

‘This initiative is central to positioning Sri Lanka as a competitive player in international markets,’ he said.

According to Wijesinghe, the Government’s export strategy, embodied in the soon-to-be-published NEDP targets total export receipts of about $ 36 billion by the end of the four-year period, driven by accelerated growth in both merchandise and services exports.

‘The finalised NEDP will be presented in January 2026 and will provide the roadmap for translating targets into investment, skills development, and new-market penetration. Once implemented, the combination of tariff reform, digital trade facilitation, renewed trade diplomacy, and focused sector development could substantially de-risk the economy and put exports on a higher-growth trajectory,’ he explained.

The plan has been prepared by the EDB in partnership with the Asian Development Bank (ADB) following months of stakeholder consultations.

Wijesinghe said NEDP rests on three key pillars: Boosting trade competitiveness, expanding regional and global market linkages and promoting sustainable, trade-led growth.

‘To capitalise on this momentum, the EDB plans to strengthen economic diplomacy and has set performance targets for Sri Lanka’s foreign missions,’ he said, adding that a formal review of existing free trade agreements (FTAs) and preferential trade arrangements (PTAs) is underway, alongside proposals for negotiating new agreements to support the $ 36 billion export objective.

He noted that a Ministerial Committee chaired by Trade, Commerce, and Food Security Ministry Secretary K.A. Vimalenthirarajah has been constituted to evaluate current trade agreements and is expected to unveil its report by February 2026.

Wijesinghe said the EDB is also seeking to change the composition of Sri Lanka’s export basket by prioritising sectors beyond apparel, coconut, rubber, and tea, which together still account for around 60% of export value.

Market diversification will be another key focus of the strategy. While the United States remains Sri Lanka’s single largest export market, accounting for nearly 25% of export earnings, and Europe contributes about 22%, Wijesinghe said the EDB is pushing for deeper penetration into African, Asian, and Middle Eastern markets.

‘Exports to these regions have grown by over 25% during the January-November period, underscoring their potential,’ he said.

He also highlighted strengthened economic diplomacy efforts, with Sri Lanka’s foreign missions now assigned export performance targets.

Wijesinghe drew attention to significant policy reforms in the 2026 Budget, including an allocation of Rs. 80 billion to modernise Sri Lanka’s outdated tariff structure and create a more transparent, investor-friendly trade environment. He said long-delayed progress has also been made on the National Single Window.

‘The long-discussed National Single Window has finally secured Rs. 2.5 billion in funding to move forward, enabling full online integration of key agencies including the Board of Investment, EDB, Customs, and the Land Ministry to streamline trade processes and shift to e-invoicing,’ he said.

He added that the implementation of the National Tariff Policy will help streamline and reduce para-tariffs.

Wijesinghe also described the reactivation of the Export Development Council of Ministers (EDCM), chaired by the President and revived after nearly two decades, as a major governance milestone.

‘The EDCM will play a key role in policy coordination, especially in light of the reconstruction needs following recent disasters. The Council, exporter forums, and sectoral task forces will be responsible for monitoring the implementation of the NEDP and ensuring that reforms remain aligned with national priorities,’ he added.

He said 90% of the EDB’s planned activities for 2025 have already been achieved, largely due to direct policy intervention through the EDCM.

Wijesinghe also revealed 573 export companies were affected by Cyclone Ditwah, particularly in Colombo, Gampaha, Kurunegala, and Kandy districts. Of these, 362 were small factories, 113 medium-sized, and 98 large enterprises. The main challenges faced were disruptions to connectivity, transportation, and electricity supply.

‘We have discussed these issues with all stakeholders and, together with the Industry and Entrepreneurship Development Ministry, have gathered information and are taking next steps to provide concessionary loans through banks and other trade facilitation measures,’ he said.

Wijesinghe also said the EDB plans to expand exposure for new exporters through international trade fairs next year. Citing Gulfood 2026 in January, he said 61 exporters have already registered, with the majority being first-time participants.

He also highlighted an EDB initiative titled ‘Expo Scale Up’, a six-month handholding programme aimed at nurturing new exporters. ‘Through this initiative, we aim to build 3,000 new exporters,’ he said.

Wijesinghe said the new strategy reflects a decisive shift in Sri Lanka’s export ambitions. ‘The goal is not only to boost revenue, but to transform the export sector into a more resilient and technologically advanced engine of the economy,’ he added.

Indian External Affairs Minister Dr. S. Jaishankar arrived in Sri Lanka yesterday as Special Envoy of Indian Prime Minister Narendra Modi.

During his visit, Dr. Jaishankar is expected to meet Sri Lankan leaders and hold discussions on bilateral relations and ongoing cooperation between the two countries.

India’s External Affairs Ministry said the visit underscores India’s Neighbourhood First Policy and comes in the context of Operation Sagar Bandhu, launched by India to support Sri Lanka following the devastation caused by Cyclone Ditwah.

India has been providing assistance to Sri Lanka as part of the operation, focusing on relief and recovery efforts in areas affected by the cyclone.