Business
How ISMM could contribute towards the eradication of corruption
By Ranil Abeyesekera
The Institute of Supply and Materials Management (ISMM) in Sri Lanka holds a unique and important position in shaping the country’s supply chain and procurement practices. As the founder and government-recognized institute in the field, ISMM’s role extends beyond education and training to include consultancy and advocacy for best practices in supply chain management.
The pressing need for a robust procurement law in Sri Lanka to eradicate corruption presents a significant opportunity for ISMM to leverage its resources, expertise, and influence.
Sri Lanka’s procurement processes, particularly in the public sector, have long been marred by inefficiencies and corruption. The absence of stringent legal frameworks and oversight mechanisms has allowed corrupt practices to thrive, resulting in substantial financial losses and eroding public trust. The introduction of a comprehensive procurement law could address these issues by setting clear guidelines, establishing accountability, and creating a transparent system for managing public and private sector procurement.
One of the primary ways ISMM can contribute is through its extensive educational programs. By conducting classes for professionals up to graduate levels and offering workshops and seminars, ISMM can ensure that the principles of ethical procurement and the importance of a solid legal framework are instilled in the next generation of supply chain professionals.
ISMM can revise its curriculum to include modules specifically focused on procurement law, ethics, and anti-corruption measures. This would prepare graduates not only to adhere to best practices but also to advocate for and implement these practices within their organizations.
Through ongoing workshops and seminars, ISMM can keep current professionals updated on the latest developments in procurement laws and anti-corruption strategies. These sessions can also serve as platforms for discussing the practical challenges and solutions related to implementing procurement law.
ISMM’s close collaboration with key governmental bodies like the Industrial Development Board (IDB) and the Ministry of Industries places it in a strategic position to influence policy development.
As a consultancy service provider for both private and public organizations, ISMM can conduct comprehensive research to highlight the economic and social benefits of a procurement law. By presenting data-driven insights and case studies from other countries, ISMM can build a compelling case for legal reform.
Policy Recommendations
ISMM can draft and submit policy recommendations to the government. These recommendations can include frameworks for the proposed law, guidelines for implementation, and suggestions for monitoring and evaluation mechanisms.
Organizing forums and discussions involving key stakeholders such as government officials, industry leaders, and civil society can help in building consensus and gathering support for the procurement law. ISMM’s reputation and network can facilitate meaningful dialogue and collaboration.
The annual National Supply Chain Excellence Awards Ceremony, conducted by ISMM, can play a significant role in promoting best practices and recognizing excellence in procurement.
By establishing high standards for the awards, ISMM can highlight the importance of ethical procurement practices. Criteria for the awards can include adherence to transparency, accountability, and efficiency in procurement processes.
Recognizing organizations and individuals who exemplify best practices in procurement can serve as a powerful incentive for others. It also raises public awareness about the benefits of ethical procurement and the need for a strong legal framework.
Public awareness and support are crucial for the successful implementation of procurement law. ISMM can leverage its resources to educate the public on the importance of this law and how it can contribute to reducing corruption and improving economic efficiency.
ISMM can launch public awareness campaigns through various media channels to explain the benefits of procurement law. These campaigns can also demystify the procurement process and highlight the role of transparency and accountability in reducing corruption.
Working with journalists and media houses to publish articles, reports, and features on procurement issues can help in shaping public opinion and building pressure on policymakers to enact the law.
For a procurement law to be effective, it is essential that public sector employees are well-versed in its requirements and equipped to implement it.
The Institute of Supply and Materials Management (ISMM) has a critical role to play in advocating for and facilitating the implementation of a procurement law in Sri Lanka. Through education, policy advocacy, public awareness campaigns, and capacity building, ISMM can drive the adoption of a legal framework that promotes transparency, accountability, and efficiency in procurement processes. Such a framework is essential for eradicating corruption and fostering a healthy economic environment in Sri Lanka. By leveraging its unique position and resources, ISMM can make a substantial contribution to this vital national initiative.
To catalyze bilateral trade and investment and drive regional economic integration, the Consulate General of Sri Lanka in Mumbai facilitated a series of high-level strategic engagements between The Ceylon Chamber of Commerce and leading Indian commercial institutions on May 13 and 14.
The delegation from The Ceylon Chamber of Commerce was led by its Chairman Krishan Balendra, CEO of John Keells Holdings Pvt Ltd and comprised a distinguished group of Sri Lankan industry leaders from Hirdaramani Group, Maliban Biscuit Manufactories (Pvt) Ltd, Sierra Cables PLC, A. Baur & Co. (Pvt) Ltd, Jetwing Travels (Pvt) Ltd, Ceylon Biscuits Ltd, Hayleys PLC, Vidullanka PLC, MAS India Clothing (Pvt) Ltd, Tudawe Brothers (Pvt) Ltd, David Pieris Holdings (Pvt) Ltd, Bank of Ceylon, Aitken Spence PLC, LTL Holdings Ltd. and Orel IT Pvt. Ltd.
On May 13, The Confederation of Indian Industry (CII) and The Ceylon Chamber of Commerce jointly hosted the ‘India–Sri Lanka Business Forum: Partnering in Sri Lanka’s Growth and Investment’ and an exclusive CEO interaction in Mumbai. The forum convened senior government officials, policymakers, and industry leaders from both countries.
These included, among others, High Commissioner of Sri Lanka to India Mahishini Colonne; Consul General of Sri Lanka in Mumbai Priyanga Wickramasinghe; Senior Economic Advisor to the President of Sri Lanka Duminda Hulangamuwa; Secretary (Protocol, FDI, Diaspora & Outreach) and Chief of Protocol Government of Maharashtra Rajesh Ravindra Gawande; Co-chairman, CII Western Region Sub-committee on International Trade & Investment and Chief Executive Officer, Polycab India Ltd. Anurag Agarwal; Chairman, CII Western Region Sub-Committee on Tourism and Hospitality and Executive Director, Kamat Hotels India Ltd Vishal Kamat and Secretary General & CEO of The Ceylon Chamber of Commerce Shiran Fernando.
Conversations centered on accelerating cross-border cooperation across high-priority sectors, including technology, manufacturing, healthcare, renewable energy, and digital transformation.
On May 14, the delegation engaged in productive Business-to-Business sessions with the IMC Chamber of Commerce and Industry, culminating in the formal renewal of the Memorandum of Understanding between The Ceylon Chamber of Commerce and IMC. The delegation also participated in an interactive session hosted by the World Trade Center (WTC) Mumbai and the All India Association of Industries (AIAI).
The two-day mission concluded with a robust exchange of views cementing a strong foundation for sustained bilateral collaboration and paving the way for a new era of industrial synergy between Colombo and Mumbai. (Consulate General of SL, Mumbai)
Demonstrating its commitment to supporting the nation’s next phase of economic transformation, Commercial Bank of Ceylon has become one of the first banks in Sri Lanka to enter into an agreement to establish a fully-fledged branch at Port City Colombo, marking a significant step in the Bank’s strategic expansion into the country’s emerging international financial hub.
The agreement was signed by Sanath Manatunge, Managing Director/CEO of Commercial Bank, and Xiong Hongfeng, Managing Director of CHEC Port City Colombo (Pvt) Ltd. The partnership further reinforces Commercial Bank’s position at the forefront of Sri Lanka’s evolving financial landscape.
The proposed branch will function as a fully-fledged banking branch, offering a full spectrum of products and services tailored to the needs of corporates, investors, businesses and retail customers operating within the Port City Colombo ecosystem. These will include digital banking facilities, trade services, foreign currency transactions, corporate banking solutions, deposits, lending, card services and remittance facilities.
By establishing a presence within Port City Colombo, the Bank said it aims to further strengthen its ability to support cross-border business and investment flows while positioning itself to meet the sophisticated requirements of global investors, multinational corporates and high-net-worth individuals expected to operate within the Special Economic Zone.
Commenting on this ground breaking initiative, Sanath Manatunge, Managing Director/CEO of Commercial Bank said the Bank’s decision to establish a fully-fledged branch within Port City Colombo reflects both its long-term confidence in the project and its readiness to support the evolving needs of a globally integrated financial ecosystem.
“As Sri Lanka’s largest private sector bank with a strong track record in serving corporates, international clients and high-value businesses, we see Port City Colombo as a pivotal development in the country’s economic future,” he said. “Our presence within this Special Economic Zone will enable us to seamlessly support cross-border transactions, facilitate international trade and investment, and deliver world-class banking solutions backed by advanced digital capabilities. Being one of the first banks to formalise plans for a full-service branch within Port City Colombo reaffirms our role as a pioneer in driving financial innovation and supporting national development.”
A 269-hectare extension of Sri Lanka’s central business district, Port City Colombo is being developed as a multi-service Special Economic Zone designed to serve as a regional financial centre, business and lifestyle hub. One of the largest public-private partnership projects in the country, it is envisioned as a catalyst for high-value investments, underpinned by advanced infrastructure, cutting-edge technology and a progressive regulatory framework.
“Our role as master developer goes beyond building the city itself. It is about creating the foundations for a functioning international business and financial hub,” said Mr Xiong Hongfeng, Managing Director of CHEC Port City Colombo (Pvt) Ltd. “The establishment of institutions such as Commercial Bank within Port City Colombo is an important part of that process, because it brings real operational depth and credibility into the ecosystem from an early stage. It reflects the broader momentum behind the project and the growing shift towards a more globally connected, investment-driven economy in Sri Lanka.”
Sri Lanka’s renowned specialty tea brand “Singharaja Wiry Tips,” produced by Lumbini Tea Valley Ceylon, has won two major accolades at the prestigious “The Leafies International Tea Awards” held recently at Fortnum and Mason in the United Kingdom.
The award-winning low-grown Ceylon tea secured the titles of “Best Ceylon Black Tea” and the overall “Best of All Black Teas,” emerging as the top black tea entered at the international competition.
With these latest honours, “Singharaja Wiry Tips” has now earned its 43rd and 44th international awards, further strengthening its reputation as one of the world’s most highly awarded black teas.
Classified as FBOPF EX SP (Flowery Broken Orange Pekoe Fannings Extra Special), the tea is named after its distinctive golden-tipped wiry leaves and unique flavour profile derived from the ecosystem surrounding the UNESCO World Heritage-listed Singharaja Rainforest, which borders the Lumbini plantation.
Lumbini Tea Valley’s latest innovation, “Lumbini Screw Buds,” also received high commendation at this year’s competition, highlighting the company’s continued excellence in producing premium Ceylon teas.
Chairman and Managing Director Chaminda Jayawardena, who accepted the awards in London, credited the achievement to the dedication of the Lumbini workforce and the support of nearly 1,800 tea farmers supplying high-quality green leaf harvested using the traditional “two leaves and a bud” method.
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