Discussing the way forward?
Dr. Chandranath Amarasekara Chairman – Institute of Bankers (IBSL) (left), Dr. P. Nandalal Weerasinghe, Central Bank Governor and Dr. Hans Wijesuriya, Chief Digital Adviser to the President during a discussion at the IBSL National Banking and Finance Conference this week in Colombo. Pic by M.A. Pushpa Kumara.
Govt. to outsource certain healthcare tests and diagnostics
The government is not privatising outright its health diagnostics facilities in state hospitals but rather choosing to adopt a Public-Private Partnership (PPP) model to outsource selective medical testing and treatment facilities in their hospitals, according to Finance Ministry officials. A new Public-Private Partnership (PPP) will be formed by the ministry to substitute the existing National [...]
Legal action looms over CEB bullying solar firms
Grid-connected solar power developers are appalled at the audacity of the insubordination of state authorities in implementing cabinet directives related to their industry, and bully behaviour towards them, with members eyeing legal action to resolve the issue. Prabath Wickramasinghe, President of the Grid Connected Solar Power Association of Sri Lanka (GCSPA), revealed that approval for [...]
Sri Lanka to roll out RAMIS overhaul
Sri Lanka’s Revenue Administration Management Information System (RAMIS) undergoes a, state-mandated modernisation to transform it from a largely administrative tool into a real-time, API-driven, and AI-enabled tax compliance system. API (Application Programming Interface) is a set of rules and protocols that allows different software applications to communicate and exchange data with each other, acting as [...]
Soon a new Gold Refinery for economic renewal
Sri Lanka is actively exploring the establishment of a domestic gold refinery to address enduring shortages and high import taxes that have driven the gold trade underground. The National Gem and Jewellery Authority (NGJA) is set to set up a facility that will import raw or less-refined gold, process it domestically, and supply local jewellers [...]
Government new strategy: Liquidation and turnarounds for SOEs
A Special Liquidation Unit (SLU) established under the Ministry of Finance is now overseeing the winding up of 33 inactive State-owned Enterprises (SOE) out of 72 institutions listed for the restructuring process. The government is moving forward with the Public Commercial Business (PCB) Act to govern SOEs while continuing to focus on improving efficiency, governance, [...]
Firestorm over pension reforms
The government may have to walk back a few steps from its controversial proposal to split the Employees’ Provident Fund (EPF) into two – a portion to be given as a lump-sum on the retirement of the contributing worker and the balance as a pension. Although the intention of the government (ensuring a pension for [...]
From 100 metres to 5000 feet
A few weeks ago, I travelled through the Central Province. After squeezing past the traffic in Kandy, I drove along a smooth suburban road. At a busy junction, framed by mountains on one side and the Mahaweli River on the other, stood a well-known restaurant with a nickname given by locals. This business began as [...]
Krrish liquidator invites bids for controversial project
The controversial Krrish project in Fort, Colombo which has residencies and two upmarket global hotel brands, last week invited local and foreign bids to develop the property which has three towers and a podium with a total 10.4 million square feet of space. The call was made by the property’s court-appointed liquidator G.K. Sudath Kumar [...]
Hayleys to construct SL’s largest private-sector wind power project
HayWind, the wind energy arm of Hayleys Fentons Limited, part of the Hayleys Group recently held the groundbreaking ceremony of its 50 MW Wind Power Project in Mannar. It is the largest private-sector investment in wind energy in Sri Lanka’s history. The ceremony, attended by President Anura Kumara Dissanayake and key government officials, highlights the [...]
Accountants are custodians of trust, says SC judge
Accountants are not mere servants of profit, but custodians of balancing trust. Auditors, by contrast, serve a broader constituency. They are appointed by and report to shareholders, said a senior Supreme Court Judge this week. “In the case of public-quoted companies, Auditors have an additional obligation of reporting to the general public and to the [...]
BOI aiming for more FDI this year
The Board of Investment (BOI), said this week that many significant investment projects are in the pipeline in 2026 including the SINOPEC Oil Refinery, while sector-specific investments are progressing in areas such as Thriloka Vijaya Pathra based manufacturing, Spices and Arecanut processing, Data Centres, Virtual SEZs, Capital Mobility initiatives for Start-ups, and other emerging sectors. [...]
The Grand, Ward Place recognised by National Construction Excellence
Prime Lands Residencies’ “The Grand” – Ward Place, its landmark luxury apartment development in Colombo 7, was recently recognised at the Sri Lanka National Construction Awards, organised by the Construction Industry Development Authority (CIDA). The recognition was conferred in acknowledgement of the project’s outstanding construction excellence, with MAGA Engineering (Pvt) Ltd serving as the Main [...]