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The National Sales Average (NSA) of tea declined in June, but increased marginally during the first half of 2026, according to Forbes and Walker Research.

The NSA for the month was Rs. 1,153.49 ($ 3.45), down Rs. 31.07 and $ 0.20 from May’s average of Rs. 1,184.56 ($ 3.65).

June…

Compared with June 2025, however, the NSA increased by Rs. 50.22 from Rs. 1,103.27, although the US dollar equivalent declined by $ 0.23 year-on-year (YoY) from $ 3.68.

The cumulative NSA for the first six months of 2026 stood at Rs. 1,162.09 ($ 3.66), representing a marginal increase of Rs. 3.55 over the Rs. 1,158.54 recorded during the corresponding period in 2025. However, the dollar-denominated average declined by $ 0.23 from $ 3.89.

Among the elevation categories, Forbes and Walker Research said the High Grown average recorded the sharpest month-on-month decline, falling Rs. 64.64 and $ 0.29. Compared with June 2025, High Grown teas posted a gain of Rs. 52.40, although the dollar average declined by $ 0.19.

The Medium Grown category recorded a month-on-month decline of Rs. 53.74 and $ 0.25, while compared with the corresponding month last year, the average fell by Rs. 29.82 and $ 0.43.

The Low Grown average declined by Rs. 12.61 and $ 0.15 compared with May 2026. However, against June 2025, Low Grown teas registered a positive variance of Rs. 72.02, despite the US Dollar average declining by $ 0.19.

On a year-to-date (YTD) basis, only the High Grown elevation recorded a positive variance in Sri Lankan rupee terms, while the Medium and Low Grown categories posted negative variances in both rupee and US dollar terms.

The inaugural ceremony of ‘Badhu Shakthi 2026′ National Tax Week, a year-long initiative aimed at strengthening State revenue generation and fostering a culture of voluntary tax compliance, was held yesterday at the Presidential Secretariat under the patronage of Parliament Speaker Dr. Jagath Wickramaratne.

Organised by the Revenue Administration Reform and Modernisation Unit of the Presidential Secretariat, the program seeks to transform public perceptions of taxation while broadening the country’s tax base and supporting the country’s long-term economic development.

As part of the initiative, National Tax Week will be observed across the country from 6 to 10 July, accompanied by a countrywide media and public awareness campaign, including the distribution of educational material and promotional activities to encourage greater tax compliance.

Dr. Wickramaratne said: ”Badhu Shakthi 2026′ was not merely a tax collection campaign, but a national movement aimed at cultivating responsible citizens committed to the country’s development.’

He said the economic independence and long-term stability of any sovereign nation depended on strong State revenue, with taxation serving as one of the key pillars of national development.

Dr. Wickramaratne acknowledged that taxation had long been viewed negatively, attributing the perception to shortcomings in tax administration and political patronage that had enabled tax evasion in the past.

The Speaker said the current Government had succeeded in improving public confidence by demonstrating that tax revenue was being utilised transparently for development and public welfare.

He noted that major infrastructure projects, including expressways, highways, and power projects, were now being financed through domestic resources rather than foreign borrowing.

Dr. Wickramaratne cited the commencement of the Kandy Expressway without external loans and Cabinet approval for the Kurunegala-Galewela Road project as examples of the country’s growing ability to finance development independently.

He also said tax revenue had enabled the Government to allocate Rs. 500 billion in response to Cyclone Ditwah while expanding assistance through the President’s Fund, including educational support for schoolchildren across the country.

The Speaker stressed that increasing public awareness of how tax revenue is utilised would strengthen confidence in the tax system, helping to expand the tax base, improve compliance, and reduce tax evasion. He added that if every citizen paid their fair share of taxes, the overall tax burden on individuals could be reduced.

Finance and Planning Deputy Minister Dr. Anil Jayantha Fernando said a better public understanding of taxation would help accelerate Sri Lanka’s economic and social transformation.

He said although individuals pursued personal aspirations, many national goals could only be achieved through collective effort and cooperation. He noted that paying taxes had become much simpler through improvements to the tax administration system, enabling more efficient and systematic revenue collection.

Dr. Fernando said the Government also recognised its responsibility to manage public finances prudently and ensure tax revenue was used effectively for the benefit of society. He warned that poor financial discipline would undermine public confidence and discourage tax compliance.

He said the Government had therefore introduced a tax administration system based on fiscal discipline and would not tolerate fraud, corruption or waste, adding that rebuilding the country required every citizen to contribute willingly with a sense of national responsibility rather than merely complying with legal obligations.

Kandy Sports Club will hold its Annual General Meeting on 12 July at its clubhouse at 10.00 am.

Mahesh Weerasinghe is tipped to continue as President, and the club will have the huge task of regaining both the League and Clifford Cup knockout titles this year. (SJ)

UK Trade Envoy to Sri Lanka Lord Hannett of Everton (centre) is welcomed by The Body Shop Sri Lanka Director Kosala Wickramanayake (centre, right), alongside UK Deputy Trade Commissioner for South Asia Jaya Choraria, and British High Commission Colombo Head of Trade and Investment Asanthi Fernando at The Body Shop store in OGF Mall, Colombo

The Body Shop, the iconic British-born ethical beauty brand, recently welcomed UK Trade Envoy to Sri Lanka Lord Hannett of Everton to its store at One Galle Face (OGF) Mall during his official visit to the country.

The visit underscores the UK’s commitment to strengthening trade and investment relations with Sri Lanka, while highlighting the contributions of UK brands to the local economy.

Lord Hannett, accompanied by UK Deputy Trade Commissioner for South Asia Jaya Choraria and British High Commission Colombo Head of Trade and Investment Asanthi Fernando, was received by The Body Shop Sri Lanka Director Kosala Wickramanayake and the store team. The delegation experienced the brand’s signature ‘Happy Dance’ welcome before embarking on a store tour that showcased The Body Shop’s high-quality skincare, bodycare, and haircare products.

A key highlight of the visit was a stop at the in-store recycling hub, where Lord Hannett learned about the brand’s global Return, Recycle, Repeat (RRR) initiative. This program encourages customers to return used packaging for responsible recycling, reducing waste and promoting circularity.

‘We are honoured to host Lord Hannett and his delegation,’ said Wickramanayake. ‘This visit is a testament to the strong ties between the UK and Sri Lanka. For over a decade, The Body Shop has proudly served Sri Lankan consumers with products that are cruelty-free, sustainably sourced, and effective. Our commitment to ethical beauty and our RRR program reflects our dedication to a more sustainable future, and we are grateful for the support that enables us to contribute to the local economy and community.’

Lord Hannett’s visit to the store is part of a broader mission from 17-19 June, which included high-level discussions with Government officials on market access, business climate reforms, and bilateral export opportunities under the UK’s Developing Countries Trading Scheme (DCTS).

The visit to The Body Shop, a British brand founded by the visionary Dame Anita Roddick, serves as a powerful example of how UK businesses can successfully integrate into the Sri Lankan market while championing social and environmental justice.

UN Global Compact Network Sri Lanka hosted CATALYZE 2026: Environment, convening

business leaders, sustainability practitioners, policymakers, development partners, and technical experts to explore the environmental priorities shaping the future of sustainable business and economic growth.

Explored across two impactful days, CATALYZE 2026 explored both the social and environmental dimensions of sustainable business.

In alignment with the UN Global Compact’s 2026-2030 Strategy and its pillars of ‘Equip, Catalyze, and Advance,’CATALYZE: Social held on 24 June 2026 under the theme ‘From Commitment to Collective Impact,’ focused on the people-centric approach to sustainability, while CATALYZE: Environment, examined under the theme ‘Growth Against the Grain’, the increasingly interconnected sustainability challenges corporates face, by guiding the participants through the critical pillars of environmental sustainability, from climate action and nature stewardship to circularity, energy transition, resilience, and strategic communication.

In his opening remarks, United Nations Resident Coordinator’s Office Sri Lanka Partnerships and Development Finance Specialist Azam Bakeer Markar emphasised the urgency of accelerating business action, stating, ‘The question is no longer whether we need to act-it is how fast we are willing to move. And how bold we are willing to be.’

The keynote address by Accelerating Industries Climate Response Sri Lanka project National Finance Expert Kapila Subasinghe, further augmented the forum by identifying the challenges and way forward on unlocking finance for industrial decarbonisation and the private sector’s role in mobilising investment and advancing Sri Lanka’s transition to a more sustainable and competitive economy.

‘The Corporate Climate Action Lab’, facilitated by Deloitte South Asia Climate Change and Sustainability Director Aditya Parchure, and Deloitte South Asia Climate Change

and Sustainability Associate Director Piyush Yadav, explored pathways from climate ambition to implementation, including net-zero strategies, science-based target setting, sector-specific decarbonisation approaches, and opportunities for cross-sector collaboration.

‘A Virtual Plenary’, delivered by Nature-related Financial Disclosures (TNFD) Taskforce Global Lead Tajeshwar Goyal, explored how businesses can identify, assess and manage nature-related risks while integrating nature into business strategy, risk management and long-term value creation.

Extending a systems approach, ‘Rewire the Economy Masterclass’, led by Dr. Mayuri Wijesundara and the team from Anvarta Ltd., explored circular economy principles through a game-based simulation, enabling participants to develop circular transition roadmaps while fostering systems thinking and collaborative problem-solving.

Complementing these discussions, ‘Energy Transition Strategy Lab’, facilitated by Piyumali Jayasundara of Control Union Ltd., explored pathways for transitioning to low-carbon energy systems, including strategies to strengthen energy security and identify sector-specific decarbonisation opportunities faced in today’s world.

Recognising that climate leadership must also strengthen resilience, ‘Climate Adaptation and Disaster Resilience Scenario Analysis’, facilitated by Gethmi Adikari and Raeesha Ikram along with the team from A-PAD Sri Lanka, explored strategies for enhancing organisational preparedness, business continuity and resilience in response to increasing climate-related risks.

Bringing the day’s themes together, ‘Strategic Storytelling Masterclass’, led by Arosha Perera, explored how organisations can communicate sustainability commitments and impact through compelling narratives that build trust, inspire action, and strengthen stakeholder confidence.

The extended technical sessions at CATALYZE 2026: Environment were delivered in strategic partnership with Deloitte and Anvarta PTY Ltd, in main partnership with Sampath Bank PLC. Session partners contributing technical expertise across decarbonisation, circularity, energy transition, climate adaptation, and resilience included INSEE Ecocycle Ltd., Hayleys Mobility Ltd., Control Union Ltd., and the Asia Pacific Alliance for Disaster Management (A-PAD) Sri Lanka.

The convening was further supported by the Patrons of UN Global Compact Network Sri Lanka’s Working Groups: the Climate Emergency Task Force (Talawakelle Tea Estates PLC and Hirdaramani Group); the Water and Ocean Stewardship Working Group (Kelani Valley Plantations PLC, Dilmah Ceylon Tea Company PLC, Commercial Bank of Ceylon PLC, and Sampath Bank PLC); and the Sustainable Supply Chain and SME Working Group (Dilmah Ceylon Tea Company PLC, Teejay Lanka PLC, and Hatton National

Opposition Leader Sajith Premadasa has held the Government responsible for the deadly violence at Negombo Prison, saying the incident reflects a broader collapse of discipline and efficiency within the prison administration.

Issuing a special statement yesterday, Premadasa said the loss of life and injuries were the result of institutional failure, arguing that the authorities had failed in their duty to maintain order within correctional facilities.

He said at least 25 people had died in the violence and stressed that the Government must accept full responsibility for the tragedy.

Premadasa also pointed to earlier remarks made by the current President during his time in the Opposition, when he had argued that Governments should be held accountable if deaths occur inside prisons. He said that same standard should now be applied to the present administration.

The Opposition Leader further claimed that the Government’s promise of ‘system change’ had not materialised, saying the incident exposed serious weaknesses in governance, law enforcement, and prison management.

He questioned whether the administration was capable of ensuring both effective law and order and humane treatment within the prison system, adding that the public deserved clear answers on how the situation escalated to such a scale.

Premadasa called for an independent, impartial, and transparent investigation into the incident, insisting that it should not be handled by a Government-appointed committee tasked with producing a favourable report.

He also urged the Government to set aside what he described as political arrogance and focus on urgent national priorities, including security and prison reform.

The World Bank’s reclassification of Sri Lanka as an upper middle-income country is an important milestone in the economic recovery after 2022. Having lost this status in the aftermath of the unprecedented financial crisis, this development signals that the economy has regained a degree of stability after one of the darkest chapters in its post-independence history. It is undoubtedly a welcome development and an indication that difficult reforms and economic adjustments have begun to yield results.

Yet, while this achievement deserves recognition, it should also be approached with caution. The classification, which will remain valid until the end of June 2027, should not be mistaken for evidence that Sri Lanka’s economic challenges have been resolved. Rather, it should serve as a reminder that recovery is still a work in progress and that sustained structural reforms remain essential.

The World Bank’s income classifications are based on Gross National Income (GNI) per capita, a measure of the average income earned by a country’s residents. Unlike Gross Domestic Product (GDP), which captures the value of goods and services produced within a country’s borders, GNI also accounts for income earned by residents from overseas. This makes it a broader measure of national income than GDP and, in many respects, a better indicator of the income available to citizens.

However, GNI per capita, like any economic indicator, has its limitations. By focusing on averages, it can obscure significant disparities in income distribution and living standards. A rise in national income does not necessarily translate into improved prosperity for all citizens. Persistent inequalities, regional imbalances and uneven access to economic opportunities can undermine both political stability and long-term economic resilience. The events leading to the 2022 crisis demonstrated that headline economic figures can conceal underlying vulnerabilities until they become impossible to ignore.

The implications of Sri Lanka’s upgraded classification extend to determining to face reduced eligibility for concessional loans, grants and other forms of development assistance that are typically available to lower-income economies. While this reflects growing confidence in the country’s economic standing, it also means that future development will increasingly depend on the country’s own capacity to generate investment, expand exports and strengthen domestic productivity.

This shift places greater responsibility on policymakers. Sri Lanka must accelerate efforts to build a more competitive and diversified economy that is less dependent on favourable financing terms and preferential trade arrangements. Improving the ease of doing business, attracting high-quality investment, enhancing productivity, strengthening public finances and promoting innovation must remain central priorities. Equally important is ensuring that economic growth is inclusive, creating opportunities across all regions and social groups rather than benefiting only a select few.

The painful lessons of 2022 should not be forgotten simply because economic indicators have improved. The crisis exposed deep structural weaknesses in fiscal management, external debt sustainability and governance. Those shortcomings cannot be addressed through higher income classifications alone. Without prudent economic management and institutional reforms, gains achieved today can quickly be reversed tomorrow.

Sri Lanka’s return to upper middle-income status is therefore best viewed as a milestone rather than a destination. It reflects meaningful progress, but it is neither a guarantee of lasting prosperity nor an assurance against future crises. The country now has an opportunity to build a stronger, more resilient economy capable of sustaining growth without excessive reliance on external support.

The Central Bank of Sri Lanka (CBSL) said, acting in terms of the Regulations made under the Registered Stock and Securities Ordinance and the Local Treasury Bills Ordinance, it has decided to extend the suspension of Perpetual Treasuries Ltd., (PTL) from carrying on the business and activities of a primary dealer.

Accordingly, the suspension has been extended for a further period of six months with effect from 4.30 p.m. on 5 July 2026, in order to continue the investigations being conducted by the CBSL.

Launch of Dialog Pay (from left to right) Supun Weerasinghe, Director / Group Chief Executive, Dialog Axiata PLC; Renuka Fernando, Group Chief Digital Services Officer, Dialog Axiata PLC; Navin Pieris, Group Chief Officer, Dialog Enterprise; Lasantha Theverapperuma, Group Chief Marketing Officer, Dialog Axiata PLC

Advancing Sri Lanka’s Digital Economy Through Integrated Digital Payments

Dialog Axiata PLC, Sri Lanka’s #1 connectivity provider, today announced the launch of Dialog Pay, an integrated platform within the MyDialog App that brings together connectivity, payments and financial services, marking another significant milestone in its journey to enrich and empower Sri Lankan lives and enterprises through technology. Supporting the recently launched Lanka QR Payment Promotion Programme of the Government of Sri Lanka, Dialog Pay aims to drive the shared ambition of accelerating digital payment adoption and building a more financially inclusive digital economy. Through a single, seamless digital experience, Dialog Pay makes it easier for customers to manage payments and financial services, encouraging digital payments to become a natural part of everyday life.

Built on one of Sri Lanka’s largest digitally enabled merchant ecosystems, Dialog Pay enables secure and convenient Lanka QR payments across more than 100,000 retail outlets spanning supermarkets, restaurants, fashion retailers, electronics stores, healthcare providers and thousands of neighbourhood businesses across Sri Lanka. Whether shopping for groceries, dining out or making everyday purchases, customers can enjoy the convenience of secure digital payments across the places they visit most, while enabling merchants to participate in Sri Lanka’s growing digital economy.As part of this launch, Dialog is rebranding Genie as Dialog Pay, reflecting the evolution of its digital payments platform into a broader digital financial ecosystem. Available through the Dialog Pay App and the MyDialog App, customers can conveniently activate Dialog Pay using their eZ Cash account or by linking their preferred bank account, enabling them to make LankaQR payments, transfer funds, access their digital wallet, open savings accounts and fixed deposits, and apply for loans powered by Dialog Finance, all without the need to switch between multiple applications for their everyday connectivity and financial needs.

To encourage greater everyday adoption, customers who use Dialog Pay for eligible Lanka QR payments will enjoy complimentary Dialog data rewards, creating additional value while encouraging trial, repeat usage and long-term digital payment habits.

Commenting on the launch, Supun Weerasinghe, Group Chief Executive of Dialog Axiata PLC, said, ‘At Dialog, we have always believed that our role extends beyond connecting people to enriching and empowering Sri Lankan lives and enterprises through technology. Dialog Pay reflects that commitment by making digital payments and financial services simpler, more accessible and rewarding for every Sri Lankan, while encouraging greater participation in the country’s evolving digital economy. We commend the Government of Sri Lanka, the Ministry of Digital Economy, the Central Bank of Sri Lanka and LankaPay for their leadership and continued commitment to advancing the country’s digital transformation and digital payments ecosystem. We are thankful to our partners for joining us in this national initiative and look forward to working alongside all stakeholders to accelerate digital payment adoption across the country.’

Dialog Pay builds on Dialog’s continued commitment to creating technology-driven solutions that enrich and empower Sri Lankan lives. Combining one of Sri Lanka’s largest merchant acceptance networks with digital financial services and meaningful customer rewards, Dialog Pay is making everyday digital payments more accessible, convenient and rewarding, helping accelerate the country’s transition towards a more inclusive and digitally empowered economy.

HNB Life PLC entered a Memorandum of Understanding (MoU) with the Government Medical Officers’ Association (GMOA), marking the beginning of a strategic collaboration aimed at delivering enhanced value and protection solutions to medical professionals across Sri Lanka.

Through this collaboration, GMOA members will gain access to tailored life insurance solutions from HNB Life, complemented by a range of exclusive benefits and value-added features designed to support their long-term financial security and protection needs.

HNB Life PLC Executive Director/Chief Executive Officer Lasitha Wimalaratne said, ‘At HNB Life, we are committed to creating meaningful solutions that address the evolving needs of different customer segments. This MoU signing with GMOA represents an important step in extending specialised protection and wealth creation opportunities to Sri Lanka’s medical community. We are pleased to collaborate with GMOA and offer enhanced benefits, enabling members to secure their future and that of their loved ones with greater confidence.’

GMOA President Dr. Sanjeewa Tennekone said, ‘The wellbeing and financial security of our members remain a priority for the GMOA. We are pleased to enter into this collaboration with HNB Life, which offers our membership access to a tailored solution with added benefits. We believe this initiative will provide meaningful value and support our members in planning for their long-term financial goals.’

HNB Life PLC Executive Vice President/Chief Business Officer Adviser – Distribution Harindra Ramasinghe said, ‘Medical professionals dedicate their lives to caring for others, and it is equally important that they have access to financial solutions that safeguard their own future. Through this collaboration, we are able to provide GMOA members with a comprehensive proposition that combines investment, protection, long-term value, and exclusive benefits designed to complement their professional and personal aspirations.’

GMOA Secretary Prabath Sugathadasa said, ‘This collaboration with HNB Life reflects our ongoing commitment to identifying opportunities that enhance the overall wellbeing of our members. Beyond professional development, financial security is an important aspect of long-term stability for medical professionals. We are pleased to collaborate with HNB Life to provide our members with access to tailored life insurance solutions and exclusive benefits that will support them in planning for the future with confidence.’