Business
EMA applauds government’s decision to allocate funds to revive the Event Management industry
The Event Management Association of Sri Lanka applauded the government’s decision to allocate Rs 500 million in the next year’s (2022) budget to compensation for losses incurred during the pandemic. Built painstakingly over 30 years, Sri Lanka’s Event Management industry has been a major contributor to foreign exchange earnings through driving the MICE tourist industry. The COVID-19 pandemic disrupted the earning potential of the industry due to inevitable mobility restrictions that ensued.
“We thank the Finance Minister Hon. Basil Rajapakse and the Government for recognizing our industry and allocating Rs. 500 million to compensate the losses incurred during the pandemic with our industry being shut for 18 months. EMA being the legally registered body of the Event Industry, we trust and hope that the Finance Ministry will consult and work with the EMA as to how these funds will be disbursed to the professional Event Management Companies,’ Seniya Samarasekera, Secretary – EMA said.
In addition to brining in foreign exchange to boot the economy, the Event Management Industry has provided employment to thousands of people. Over the past 30 years, the event management industry grew organically while industry players invested billions of rupees in developing the industry through upgrading equipment, introducing technology and training people.
‘Over the last 2 years the Event Management Association has been working very hard to get our Industry recognized by the government and we were first recognized when the central bank included us for the moratorium. The EMA is registered with the SLTDA and we are also a member of the FCCISL. The government’s fund allocation to the industry is a welcome respite to industry players in these challenging times. We believe that this monetary compensation will enable us to sustain and plan to revive the industry in the post-pandemic economy” – Roshan Wijeyaratne, President – EMA.
In the year 2018 alone, the global MICE industry was valued at $ 1,100 billion and it is projected to grow to $ 2,300 billion in 2026. Sri Lanka’s Event Management Industry enjoys potential to grow in the post-pandemic economy. As such, it is imperative that all stakeholders strive to sustain the industry and keep investing and developing it to retain the competitive edge, and remain competitive in the region to bring much needed foreign exchange to the country.
Business
SriLankan Airlines Alerts Customers to Social Media Scams
18 March 2026; Colombo – SriLankan Airlines wishes to alert customers to social media scams circulating on Facebook, WhatsApp and other platforms, often sent from both known and unknown contacts, featuring fake offers that misuse the SriLankan Airlines name, logo and brand.
SriLankan Airlines will never request payments, OTPs, credit card details, bank information or any other financial details via social media channels.
Customers are advised to always verify that any promotional offer is linked to the airline’s official website, www.srilankan.com, or shared through the verified social media accounts of SriLankan Airlines, as scammers often use fake links with unusual characters or spellings, or impersonate the airline through fake social media accounts.
Business
JSL & Fentons Joint Venture to Construct Double Circuit Transmission Line from Mannar Grid Substation to Mullikulam Collection Grid Substation
Approval has been granted at the Cabinet meeting held on 03-02-2025 to implement the formal procurement procedure to select a contractor for the construction of a 28 km long double circuit transmission line with the capacity of 220 kW, from Mannar Grid Substation to Mullikulam Collection Grid Substation under the Lot B of the Mullikulam Wind Power Transmission Project.
Bids have been invited following the International Competitive Procurement Procedure and five (5) bids have been received.
Accordingly, based on the recommendations submitted by the High-Level Standing Procurement Committee after evaluating the aforementioned bids, the Cabinet of Ministers has approved the resolution furnished by the Minister of Power and Energy to award the contract to the JSL & Fentons Joint Venture – Intend (Jyoti Structure Limited, India and Hayleys Fentons
Limited, Sri Lanka), substantially responsive minimum bidder, for an equal amount of Sri Lankan Rs. 2,269.18 million (without VAT).
Business
Fuel crunch forces midweek shutdown; courts told to show leniency
Economic pressure likely to push already-strained businesses into a liquidity crunch
By Sanath Nanayakkare
Sri Lanka is slowing to a midweek halt as a deepening fuel shortage has compelled the government to suspend most public sector operations every Wednesday, while courts have been advised to take a lenient view of attendance requirements amid transportation difficulties caused by fuel rationing.
The directive, issued by the Commissioner General of Essential Services, suspends most state functions one day a week until further notice in an attempt to conserve scarce fuel reserves. Authorities have also urged the private sector to adopt a similar arrangement.
Officials say the measure is aimed at reducing commuter traffic into major cities, particularly Colombo, where thousands of public servants travel daily from suburban areas.
Explaining the decision to select Wednesday, officials said declaring Friday a holiday could have effectively denied the public access to government services for three consecutive days when combined with the weekend.
However, the development underscores the fragility of Sri Lanka’s economic recovery as households continue to grapple with rising prices of essential goods.
The impact is already visible on the streets. Long queues have formed outside fuel stations while public buses have been seen overcrowded, with passengers clinging to footboards. Many commuters were also seen attempting to secure rides through the ride-hailing platforms Uber and PickMe, where drivers were demanding higher fares as demand surged.
Recognising these difficulties, the Judicial Service Commission (JSC) has issued a circular instructing judges to take transportation constraints caused by fuel rationing into consideration when making legal determinations.
Judges have been advised to consider the possibility that lawyers, litigants, witnesses and even suspects may be unable to attend court due to limited fuel availability.
While court proceedings are expected to continue, judicial officers have been asked to assess such situations on a case-by-case basis.
The JSC has also directed courts to make greater use of virtual platforms whenever possible. This is expected to apply particularly to proceedings such as extending remand orders, thereby avoiding the need to transport prisoners physically to court.
Authorities believe that conducting such hearings online could significantly reduce fuel consumption associated with prison transport. The temporary measures will remain in effect until further notice.
Meanwhile, officials say special fuel allocations may be considered for critical sectors including tourism, the Colombo Port, agriculture, health services, the plantation industry and public transportation in order to sustain essential services and economic activity.
However, the broader economic outlook remains uncertain. Business leaders warn that companies already burdened with higher taxes, rising operational costs and thin margins could face severe liquidity pressures if global oil prices remain elevated.
Industry observers say some firms may be compelled to seek loan moratoria if the disruption linked to the conflict involving Iran continues for another month.
Public concern has also been heightened by recent comments from Iranian officials indicating that Tehran has not sought a ceasefire in the ongoing conflict.
For President Anura Kumara Dissanayake, the unfolding fuel shortage is emerging as one of the most serious challenges facing his administration. Although the government has been holding internal consultations, critics say an all-party conference has yet to be convened to formulate a unified national response to the crisis.
Within business circles and sections of the public, questions are increasingly being raised about whether the government possesses the institutional capacity and experience required to manage a prolonged energy shock.
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