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How ISMM could contribute towards the eradication of corruption

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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.



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SEC Sri Lanka eases Minimum Public Holding Rules for listings via introductions to boost market flexibility

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The Securities and Exchange Commission of Sri Lanka (SEC) has approved amendments to the Colombo Stock Exchange (CSE) Listing Rules to provide greater flexibility regarding the Minimum Public Holding (MPH) requirement for companies listing through the Introduction method.

These revisions were proposed and deliberated under Project 6 – New Listings (Public and Private), one of 12 key strategic initiatives launched by the SEC to strengthen Sri Lanka’s capital market framework. Project 6 aims to drive national capital formation, promote listings by highlighting benefits and opportunities for listed entities, and attract large-scale corporates to enhance market depth, liquidity, and investor confidence.

The amendments reflect a joint effort by the SEC and CSE, underscoring strong collaboration between the regulator and the Exchange to address evolving market needs while maintaining market integrity, transparency, and investor protection.

The salient features of the amendments to the CSE listing Rules are as follows;

Entities seeking listing by way of an Introduction on the Main Board or Diri Savi Board that are unable to meet the MPH requirement at the time of submitting the initial listing application, may now be granted a listing, subject to certain conditions on compliance.

Non-public shareholders who have held their shares for a minimum period of eighteen months prior to the date of the initial listing application may divest up to a maximum 2% of their shares each month during the six months commencing from the date of listing, and simultaneously, be subject to a lock-in requirement of 30% of their respective shareholdings as at the date of listing, until MPH compliance or 18 months from the date of listing, whichever occurs first.

A phased MPH compliance framework has been introduced requiring a minimum 50% compliance with MPH requirement within 12 months and full compliance within 18 months from the date of listing.

Entities should include clear disclosures in the Introductory Document confirming their obligation to meet MPH requirements within the prescribed timelines.

In the event of non-compliance with the MPH requirement, certain enforcement actions have also been introduced.

The revised framework is expected to encourage more companies to consider listing via Introduction, thereby broadening market participation, improving liquidity, and contributing to the overall development of Sri Lanka’s capital market. Issuers, investors, and market intermediaries will benefit from a more enabling yet well-regulated listing environment.

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Manufacturing counters propel share market to positive territory

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Stock market activities were positive yesterday, mainly driven by manufacturing sector counters, especially Sierra Cables, Royal Ceramics and ACL Cables. Further, there was some investor confidence in construction sector counters as well.

Amid those developments both indices moved upwards. The All Share Price Index went up by 150.54 points, while the S and P SL20 rose by 41.5 points. Turnover stood at Rs 4.65 billion with six crossings.

Those crossings were reported in Royal Ceramics which crossed 3.8 million shares to the tune of Rs 174.3 million; its share s traded at Rs 45.20, VallibelOne 1.4 million shares crossed to the tune of Rs 138.6 million; its shares traded at Rs 99, Melstacorp 500,000 shares crossed for Rs 87.24 million; its shares traded at Rs 174.50, Sierra Cables two million shares crossed for Rs 68.2 million, its shares sold at Rs 34.30, Kingsbury 1.5 million shares crossed for Rs 31.8 million; its shares traded at Rs 21.20.

In the retail market companies that mainly contributed to the turnover were; Sierra Cables Rs 418 million (20 million shares traded), Royal Ceramics Rs 363 million (eight million shares traded), Colombo Dockyards Rs 323 million (1.7 million shares traded), ACL Rs 311 million (3.5 million shares traded), Renuka Agri Rs 149 million (12.3 million shares traded), Sampath Bank Rs 94.7 million (648,000 shares traded) and Bogala Graphite Rs 86.4 million (529,000 shares traded). During the day 122.8 million shares volumes changed hands in 34453 transactions.

Yesterday the rupee opened at Rs 310.00/25 to the US dollar in the spot market, weaker from Rs 310.00/310.20 the previous day, dealers said, while bond yields were broadly steady.

By Hiran H Senewiratne

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Atlas ‘Paata Lowak Dinana Hetak’ celebrates emerging artists nationwide

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Atlas, Sri Lanka’s leading learning brand, reaffirmed its purpose of making learning fun and enjoyable through the Atlas All-Island Art Competition 2025, which concluded with a gifting ceremony held recently at Arcade Independence Square under the theme ‘Atlas paata lowak dinana hetak’. Students from Preschool to Grade 11 showcased their talents across five categories, with all island winners receiving cash prizes, certificates, and gift packs. Additionally, merit winners in each category were also recognized. The event brought together students, parents, and educators, highlighting Sri Lanka’s cultural diversity, nurturing young talent, and reinforcing Atlas’s long-standing commitment to education, creativity, and building confidence among schoolchildren. The event concluded with the ‘Atlas Art Carnival’, which brought children and parents together through games and creative art activities in a fun and lively atmosphere.

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