Business
None of our 18 proposals to develop industrial sector included in budget – CNCI
By Hiran H.Senewiratne
None of its 18 proposals, focusing on developing the industrial sector, has been included in the 2024 budget, although they were presented to the authorities in the lead-up to the formal presentation of the latter budget in parliament, the Ceylon National Chamber of Industries (CNCI) said.
“But as a Chamber we are pleased with the 2024 budget, which allocated Rs 50 billion for the development of micro and small industries, because the SME sector is now going through a major crisis due to the current economic conditions, CNCI chairman Kevin Edwards said at a media conference last week, held at the CNCI head office at Galle Face Court.
“A number of SME industries were shut down or closed down owing to the C-19 pandemic and the economic crisis, which pushed them into huge debt and it is the need of the hour to take steps to assist them. Obtaining a loan from the Asian Development bank to assist the SME sector was a good move but more clarity is needed on its implementation, Edwards said.
Edwards added: “There needs to be a relook at the high electricity tariff for the industrial sector, which negatively impacts the competitiveness of local products in the export market, which is very much higher than the tariff in other countries of the region. Today a unit of electricity in Sri Lanka is around Rs. 40, while in India it is Rs. 30 and in both Vietnam and Thailand it’s around Rs. 20.
“We have requested the authorities to add more infrastructure to the Railways, enabling more goods to be transported by rail, which will be cheaper and would save fuel as well.
“We have given more emphasis to signing Free Trade Agreements with Bangladesh, Thailand, China, Singapore and many more countries to increase trade and investment for Sri Lanka as well as build on foreign reserves.
Deputy Chairman-CNCI, Pradeep Kahawalage, said that the increase of VAT from 15% to 18% will contribute towards the revenue collection in a big way.
“In addition, getting more eligible people to pay taxes by widening the tax net will also help to increase government revenue.
Kahawalage added: “New tax payers would be roped in as it will be made compulsory to have a Taxpayer Identification Number (TIN), whenever a person opens a current account at any bank; obtains approval for a building plan; registers a motor vehicle or renews licenses and registers a title to land.
“These measures will help non-taxpayers to open more tax files resulting in gaining more tax revenue. The PAYE tax too has not been reduced, which will help the government to gain more tax revenue. The government hopes to achieve revenue of around Rs. 4,127 billion and 93 percent of it would be from tax which is achievable.
“The construction industry is one of the worst affected sectors in the country but the 2024 budget has allocated Rs 55 billion to revive the sector but that amount is hardly ample because it has already lost Rs 200 billion.”
Business
The Ceylon Chamber’s Commercial Document Registration Division expands export support
The Commercial Documents Registration Division (CDRD) of The Ceylon Chamber of Commerce has expanded its export support services with the introduction of the Free Sale Letter for Pharmaceuticals, providing Sri Lankan pharmaceutical manufacturers and exporters with an additional document certification service to support their export processes and compliance requirements in international markets.
The new service expands CDRD’s portfolio of trade documentation solutions, which includes Certificates of Origin and the certification of key commercial documents required by overseas buyers, customs authorities, and regulatory bodies. These services assist exporters across sectors by helping ensure their documentation meets applicable requirements for international trade.
Established in 1925 as one of the authorised institutions to issue Certificates of Origin in Sri Lanka, CDRD has supported the country’s international trade for nearly a century. Today, the Division provides certification and verification services to exporters, manufacturers, freight forwarders, logistics providers, and other trade stakeholders, supporting businesses in meeting documentation requirements for global markets.
In addition to pharmaceutical certification, CDRD facilitates the certification of Commercial Invoices, Packing Lists, Price Lists, Health Certificates, Phytosanitary Certificates, Certificates of Analysis, Bills of Lading, Survey Reports, Beneficiary Certificates, and other export-related documents. The Division also issues Free Sale Letters and Surveyor Appointment Letters, while supporting exporters through the Ministry of Foreign Affairs’ Electronic Document Attestation System (e-DAS), enabling secure and efficient document authentication.
Through established processes, digital solutions, and its e-service platform, CDRD continues to enhance the efficiency and accessibility of trade documentation services. Available 24/7 and 365 days of the year, the platform enables exporters to submit and manage documentation requirements conveniently while ensuring that certified documents meet internationally accepted requirements. By providing reliable documentation support and adapting its services to changing trade needs, the Division assists Sri Lankan businesses in managing export requirements and accessing international markets.
For more information on obtaining commercial document registration services, contact Achala via achala@chamber.lk / 0115588886
Business
Siyapatha Finance unveils newest branch in Bandarawela
Siyapatha Finance PLC recently expanded its island-wide footprint with the successful inauguration of its 64th branch in Bandarawela. Strategically located in scenic hill town in the Badulla District, the latest branch offers convenient and wider access to tailored, customer-centric financial solutions.
The branch was ceremoniously declared open by Siyapatha Finance PLC Chief Executive Officer (CEO) Mathisha Hewavitharana, joined by Chief Operating Officer (COO)Rajeev De Silva, Ms.D.M. Dewmi Tharindi, a student of Bandarawela Dharmapala Vidyalaya who won the Under-18 Girls’ 3,000m event at the Junior National Athletics Championship, the Senior Management and staff members as well as Traffic OIC Kandasami, Trade Association Secretary Sunanda Rathnayaka, representatives of the government and private banks and insurance companies and well-wishers.
Sharing his thoughts, Siyapatha Finance PLC CEO Mathisha Hewavitharana remarked: “We are deeply honoured to be of service to the people of Bandarawela. Opening this branch is a pivotal step in our 2026 expansion strategy and a reflection of our commitment to strengthen our presence in Sri Lanka. It is a region that showcases potential for greater economic development primarily through the country’s traditional agricultural practices. We look forward to reaching as many different communities as possible in the coming years.”
The Bandarawela branch offers a comprehensive product portfolio including leasing, fixed deposits, gold financing, business loans, personal loans, fast draft, and factoring to Smart Pay, the Company’s bill payment facility. With a thorough understanding about the current socio-economic dynamics of the region, the well-trained team at the newest branch is dedicated to providing flexible financial solutions to aspiring individuals as well as small and medium-scale enterprises (SMEs).
Business
Dialog recognised as Sri Lanka’s Most Loved Service and Telecommunications Brand for third consecutive year
Dialog Axiata PLC, Sri Lanka’s #1 connectivity provider, has once again been recognised as Sri Lanka’s Most Loved Brand in the Service and Telecommunications sectors, while also ranking among the top Corporate Brands in the LMD Brands Annual. Marking its third consecutive year at the top of both categories, the recognition reflects the company’s commitment to enriching Sri Lankan lives and enterprises through technology, while creating value for customers, communities and the nation.
The accolades were awarded through the LMD Brands Annual survey, conducted independently by PepperCube Consultants on behalf of Media Services. Based on responses from 400 readers across Sri Lanka, representing a broad demographic and geographic mix, the survey identified the brands that resonated most strongly with consumers in terms of trust, loyalty and brand affinity.
Lasantha Theverapperuma, Group Chief Marketing Officer of Dialog Axiata PLC said, “Being recognised as Sri Lanka’s Most Loved Brand across both the Service and Telecommunications sectors is a meaningful endorsement of the trust and confidence that Sri Lankans continue to place in Dialog. This recognition reflects our commitment to understanding and serving the evolving needs of our customers while expanding access to digital connectivity, services and opportunities. As we continue to innovate and grow, we remain focused on creating value for communities and supporting Sri Lanka’s digital and socioeconomic progress.”
The recognition also reflects Dialog’s continued focus on innovation, customer-centricity and investments that support Sri Lanka’s digital future, including expanded 5G connectivity, AI-powered digital experiences and broader access to digital services.
Beyond connectivity, Dialog continues to support communities, livelihoods and the environment through initiatives such as Govi Mithuru, which provides AI-driven agricultural advisory services to over one million farmers, and Shishyadhara, which has enabled subsidy distribution to more than 450,000 underprivileged students. The company also continues to advance its Net Zero 2050 ambition through energy optimisation, renewable energy adoption and the expansion of solar-powered network infrastructure.
Further underscoring the brand’s standing among Sri Lankan consumers, Dialog was also recognised as the ‘Service Brand of the Year’ for the fifth time and the ‘Telecommunication Brand of the Year’ for the 15th consecutive year at the SLIM-KANTAR People’s Awards 2026.
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