Business
Motor traders caution govt on sustainable electrification
The Ceylon Motor Traders’ Association (CMTA), the most senior automotive association in South Asia welcomes the government’s view that Electric Vehicles (EVs) represent the future of mobility, not just in Sri Lanka, but around the world. While the benefits of EVs are very clear in terms of reduced emissions and fuel savings, the CMTA cautions that the transition from internal combustion engines (ICE) to EVs – commonly referred to as electrification – should be carried out with proper planning and informed decision making, to preserve the interests of the Government, consumers, and the industry.
Being the only Association, which has access to global EV manufacturers and represents them in Sri Lanka, the CMTA is concerned whether due diligence has been carried out prior to the re-introduction of EVs to Sri Lanka. In this regard, the Association on the advice of global manufacturers has decided to develop a detailed automotive industry roadmap with KPMG, covering among other topics the sustainable introduction of EVs. This roadmap will be presented to the government authorities for expert advisory on the automotive industry.
As per the recommendations of global EV manufacturers, the CMTA has put forward several considerations to policy makers. Firstly, High Voltage (HV) Battery and the power management systems of EVs should be suitable for local climatic conditions as they are highly sensitive and must be adapted by the manufacturer for the specific country/region of use. Further, a minimum manufacturer’s warranty on the HV batteries of at least 5 years for passenger vehicles and 3 years for 2/3 wheelers should be required to protect consumers from crippling expenses and to negate premature foreign exchange outflow for defective batteries and related parts replacements, considering the extremely high costs of these parts. In addition, EV repairers should comply with globally accepted safety standards on infrastructure, including safety equipment, training, and isolation areas for vehicles/HV batteries in a hazardous state (e.g. after an accident).
To promote a sustainable path to electrification, the CMTA urged the government to establish a legal framework regarding end-of-life handling of HV batteries and other components, as if not disposed properly, HV batteries can be extremely hazardous to the environment and groundwater systems, which can also have implications to public health. It also emphasized the need for minimum technical standards of HV battery imports to avoid low quality battery imports and encouraged joint ventures with foreign companies with the technical expertise to set up sophisticated HV battery recycling/rebuilding facilities in the country.
Public infrastructure is also key for a successful mass-scale electrification. Reputed global EV manufacturers all emphasize the necessity for developing a public fast-charging network to give EV users peace of mind and allow them to embark on longer journeys. In terms of training facilities and resources for EV repairs, it is mandatory to enhance the curriculum at technical training institutes to create a pool of certified EV technicians who can cater to future EV repair demands.
Commenting on the timely topic of EVs, the CMTA Chairman, Yasendra Amerasinghe said, “Vehicle electrification if implemented will bode well for a country like Sri Lanka with distances between major towns being within the range of most modern EVs. Electrification is – without a doubt – the future, and we would like to see the authorities taking the necessary steps to create a conducive environment for sustainable electrification, as an improper roll-out can cause harm to consumers and the industry.”
In making a balanced and informed decision on electrification, the CMTA points out that policy makers should be aware that transitioning passenger vehicles to EVs while continuing with fossil fuel commercial vehicles may not have the expected impact on fuel imports as a significant proportion of fuel is consumed by commercial vehicles. The issue of the existing older passenger vehicles in the country would also need to be addressed through a scrapping or re-export policy to have an appreciable impact on the country’s fuel consumption.
Authorities should also be mindful that the import cost of an EV model is 20-30% higher than its ICE equivalent, which is only offset by the reduced fuel consumption and maintenance costs over a few years.
The year 2015 witnessed the introduction of EVs to the Sri Lankan market at extremely low import duties without much forethought and against the recommendations of the CMTA at the time. The result was an influx of grey (used) vehicles, which now are a great burden to around 5,000 EV owners due to battery failures. To date, there is no viable solution for these customers who are forced to sell their vehicles at far below market value, convert them to gasoline engines and use them with illegal registrations or continue to use them with failed batteries with a limited range of around 40-60km. Looking ahead, the CMTA suggests learning from the mistakes of 2015 and considering the recommendations provided by reputed global EV manufacturers for sustainable electrification.
Business
Kandy driving school hits 100,000-driver milestone, sets sights on expansion
Dhasuni Learners in Kandy have trained over 100,000 drivers, marking a major milestone in the institution’s journey from a modest start-up to one of the region’s leading driver education providers.
Founded on March 31, 2008, in the historic hill capital, the institution began with just a single van, one three-wheeler and one motorcycle. Built on what its founder describes as a commitment to road safety and public service, the driving school has since expanded into a multi-branch operation with six centres across the Kandy district.
Today, Dhasuni Learners has emerged as a significant player in Sri Lanka’s driver training sector, producing thousands of licensed motorists annually while also contributing to local employment generation. The organisation’s broader mission, according to its management, has been to foster disciplined and road-conscious drivers who adhere to traffic regulations.
Over the years, the institution has received multiple accolades for its service standards and entrepreneurial achievement. These include the ‘Best Young Entrepreneur Award’ and ‘Seva Taru Tuthe Award’ in 2018, followed by One-Star and Two-Star service ratings from the Ministry of Industries in 2019 and 2020. It has also secured top rankings from the Federation of Chambers of Commerce and Industry of Sri Lanka (FCCISL) at national and provincial levels.
More recent recognitions include the ‘Best Driving School Award’ in 2023 and the ‘Pitkal Award’ for business excellence, along with a 2025 honour from the Trade Front in collaboration with the Ministry of Industry.
by SK Samaranayake
Business
HNB Life Introduces “Privileged Protect”, a Future-Ready Protection Solution for a New Generation
Marking a significant milestone in its journey as it celebrates 25 years of trust and transformation, HNB Life has introduced Privileged Protect, a novel universal life insurance solution designed to meet the evolving financial and protection needs of modern Sri Lankans.
Developed as an evolved protection offering, Privileged Protect combines short-term premium commitments with long-term financial security, giving customers the flexibility to build wealth while safeguarding their future and loved ones.
Designed for individuals seeking comprehensive life protection with greater financial convenience, the product offers a shorter premium paying term while ensuring continued long-term coverage and investment growth opportunities. The policy also includes six compulsory protection benefits, dividend and loyalty dividend entitlements, partial withdrawal facilities after five years, and the ability to convert the maturity value into a monthly income stream. Customers are also provided the flexibility to continue optional riders beyond the premium paying term and enhance their investment through top-up premiums.
Commenting on the launch, Lasitha Wimalaratne, Executive Director / Chief Executive Officer of HNB Life, stated, “As we embark on a bold new chapter as HNB Life, the introduction of Privileged Protect reflects our commitment to continuously evolve alongside the changing aspirations of our customers. Today’s customer seeks greater flexibility, stronger protection, and smarter financial planning solutions that align with their lifestyle and long-term goals. This product has been thoughtfully designed to address those expectations while delivering the security and confidence our policyholders value. As we celebrate 25 years of excellence, we remain focused on shaping the future of insurance through innovative solutions that are relevant, accessible, and future-ready.”
Also sharing his thoughts, Dinesh Udawatta, Executive Vice President / Chief Technical Officer stated, “The modern customer is increasingly looking for insurance solutions that go beyond traditional protection. Privileged Protect is an evolved offering built around convenience, flexibility, and long-term value creation. It is designed for individuals who want to secure their future with shorter payment commitments while continuing to enjoy meaningful protection and wealth accumulation benefits. As HNB Life, we are committed to introducing customer-centric innovations that empower Sri Lankans to confidently plan for the future.”
With the launch of Privileged Protect, HNB Life continues to strengthen its portfolio of future-focused insurance solutions, reinforcing its commitment to protecting lives while empowering customers to achieve long-term financial wellbeing in an ever-evolving world. HNB Life PLC is licensed by the IRCSL and all policyholders are advised to read the policy document before concluding a sale to understand benefits, exclusions, terms and conditions.
Business
Sri Lanka’s Nazri Nizar elected to YPO global board in historic first
For the first time in the 76-year history of the Young Presidents’ Organisation (YPO), a Sri Lankan has been elected to its global board, with business leader Nazri Nizar securing a position on the governing body of one of the world’s most influential leadership organisations.
The appointment was confirmed at the YPO Annual General Meeting held on 21 May 2026. Nizar will serve as a YPO global board director from 2026 to 2029 and will concurrently serve as chair of the YPO Global Forum Committee.
Founded in 1950, YPO is a global leadership community comprising more than 38,000 chief executives, entrepreneurs and business leaders across 150 countries. Collectively, its members lead organisations generating approximately US$9 trillion in annual revenue, placing YPO among the most influential peer leadership networks in the world.
Unlike traditional business associations, YPO is built around the philosophy that leadership is a lifelong pursuit. Through a combination of executive education, peer learning and confidential leadership forums, the organisation provides a platform for business leaders to learn from one another’s experiences and navigate the personal and professional challenges that accompany leadership. At a time when organisations are navigating unprecedented technological, economic and social change, platforms such as YPO continue to underscore the importance of learning, collaboration and leadership across borders.
Nizar’s election follows years of service within the organisation. He has previously served as chapter chair of the YPO Colombo Integrated Chapter, been a member of the YPO South Asia Regional Board and, most recently, served on the YPO Global Forum Committee. In addition to his responsibilities as a global board director, Nizar will lead the Global Forum Committee, which oversees one of YPO’s most valued and enduring member experiences.
Commenting on the appointment, Nizar said YPO had played a defining role in shaping his leadership journey.
“YPO taught me that leadership is not about having all the answers. It is about continuous learning, trusted relationships and the willingness to grow through the experiences of others,” he said.
Describing the appointment as both humbling and inspiring, Nizar said he hoped the milestone would encourage more Sri Lankan leaders to engage with global platforms, contribute to international conversations and share their experiences with peers around the world.
Nizar currently serves as group managing director of Richardson Holdings, a diversified Sri Lankan enterprise with interests spanning engineering, infrastructure, renewable energy, manufacturing and out-of-home advertising.
His election represents a notable achievement for Sri Lankan business leadership and reflects the increasing contribution of Sri Lankan executives within international leadership networks.
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