Business
Mass adoption of National Fuel Pass is testament to Sri Lanka’s digital maturity – FITIS
With great crises comes even greater opportunity for growth, as witnessed in Sri Lanka over the last two months alone. As the country cautiously emerges from the crippling fuel crisis of July, many attribute the quick adoption of the National Fuel Pass QR code system for easing the situation. In a landmark move towards increased digital maturity by the Ministry of Power and Energy -under the leadership of Minister, Kanchana Wijesekera-, on August 1, 2022 Sri Lanka officially commenced the total implementation of the QR code system for fuel rationing for all motorists; simultaneously negating other ineffective manual systems which attempted to overcome the critical challenge previously.
As of September 19, a total of 6,272,385 consumers across the country had registered to receive fuel in this way, with 34,444,886 transactions made island-wide during the seven week period since inception – testament to not just the capacity to problem-solve, but also the practicality, efficiency, and convenience technological platforms can bring.Credit is also due to MillenniumIT ESP, a member of the Digital Services chapter of FITIS, for the successful implementation of the National fuel pass in partnership with Dialog who is a member of the Communication chapter of FITIS, a news release issued on the QR code system said.
‘’Of the nine million smart phone users in Sri Lanka – of which 7.9 million are on social media, six million consumers to date have signed up for the QR code fuel pass system. The success of the system has been reflected in the easing of fuel queues and an increase in accountability at stations, but is also vindication for those calling for increased national tech literacy in a fast-evolving global digital landscape,’’ the release said.
“While QR codes have been put to use previously (in national efforts to contact trace during the height of the COVID-19 pandemic and LankaQR, for instance), this has been its most successful implementation since.”
It explained that when compared to other Asia Pacific emerging markets, Sri Lanka has proven to exhibit strength in connectivity, digital marketing, investment in digital initiatives, as well as the ability to adopt quickly. Market digital transformation in Sri Lanka has been recorded at 36% of the country’s total population, in comparison to India and Bangladesh which has been recorded at around 29% and 28% respectively.
‘’In fact, according to a 2018 McKinsey report titled “Unlocking Sri Lanka’s Digital Capacity,” in an analysis of about 50 Sri Lankan companies across multiple industries, it was found that the country’s overall Digital Quotient score of 35 places it slightly higher than the global median of 33. However, Sri Lanka still lags behind when placed individually against more developed countries, though holding the potential to come up to par with its global counterparts,’’ the release said.
It added that another indication is the country’s quick adoption and move towards cashless, online payment platforms over the past few years. For example, solely through the JustPay (by LankaPay – a member of the Digital Services Chapter of FITIS) payment platform, and in the last 12 months alone, an approximate 13 million transactions have been recorded, together carrying a hefty value totalling LKR 55 billion.
“Other locally implemented digital payment platforms such as WEBXPAY, Orel Pay, PayHere, HelaPay, FriMi, IPay and PayMaster, all members of the Digital Services Chapter of FITIS, have facilitated considerable ease, flexibility, and acceleration in transactions to the country’s citizens by positively transforming the way in which we make and receive payments. Additionally, the endorsement of ride-hailing and grocery-buying apps such as Pickme also attest to the country’s digital readiness,’’ the release said.
“There are various other tech platforms built locally that could make us more efficient and save us time to best use them on most productive activities that could directly contribute towards building a better country for our future generation,” said the Vice president Mr. Omar Sahib Digital Services of FITIS.
The proven capacity of Sri Lanka’s citizens to move forward digitally should form the basis of incentive towards greater digital priorities. However, it is not enough that we merely create platforms that promote digital citizenry. National efforts should also synchronously be taken to explore new approaches and solutions, lay down enabling protective frameworks, and also provide incentives to encourage digital prioritisation across both private and government sectors, the release said.
The Federation of Information Technology Industry Sri Lanka (FITIS) was set up in 1996 with purpose of giving a much-needed focal point for ICT industry in Sri Lanka. Today, FITIS is the apex body of ICT industry in the country covering all major industry segments as Hardware Chapter, Software Chapter, Education Training Chapter, Communication Chapter, Digital Service Chapter, Professional Chapter, Office Automation Chapter and Professional Consultants Chapter.
Business
HNB Finance bags 2 CMA Reporting Awards 2025
HNB Finance PLC has been honoured with two prestigious accolades at the CMA Excellence in Integrated Reporting Awards 2025, reaffirming the company’s commitment to transparency, good governance, and integrated business performance.
At this year’s ceremony, HNB Finance PLC was awarded Second Runner Up – joint in the category of “Best Integrated Report , Finance and Leasing Sector”, and also received a Merit Award in recognition of its continued efforts to enhance reporting quality and strengthen stakeholder communication.
The CMA Excellence in Integrated Reporting Awards, organised annually by the Institute of Certified Management Accountants (CMA) of Sri Lanka, acknowledge organisations that demonstrate superior financial reporting standards aligned with global best practices. Winners are assessed on key criteria such as financial performance and strategic management, corporate governance and compliance, innovation and digital transformation, sustainability practices, and professional excellence.
Chaminda Prabhath, Managing Director/CEO of HNB Finance PLC, commented on the recognition, “These awards reaffirm our commitment to upholding the highest standards of integrated reporting and transparent financial disclosure. At HNB Finance, we remain focused on delivering sustainable long-term value through robust governance frameworks, prudent financial management, and continuous innovation. The acknowledgement by CMA Sri Lanka reflects the disciplined efforts of our teams across the organization and motivates us to further enhance our reporting quality, strengthen ESG integration, and reinforce our stakeholder centric approach.”
Business
ComBank joins ‘Liya Shakthi’ scheme to further empower women-led enterprises
The Commercial Bank of Ceylon has reaffirmed its long-standing commitment to advancing women’s empowerment and financial inclusion, by partnering with the National Credit Guarantee Institution Limited (NCGIL) as a Participating Shareholder Institution (PSI) in the newly introduced ‘Liya Shakthi’ credit guarantee scheme, designed to support women-led enterprises across Sri Lanka.
The operational launch of the scheme was marked by the handover of the first loan registration at Commercial Bank’s Head Office recently, symbolising a key step in broadening access to finance for women entrepreneurs.
Representing Commercial Bank at the event were Mithila Shyamini, Assistant General Manager – Personal Banking, Malika De Silva, Senior Manager – Development Credit Department, and Chathura Dilshan, Executive Officer of the Department. The National Credit Guarantee Institution was represented by Jude Fernando, Chief Executive Officer, and Eranjana Chandradasa, Manager-Guarantee Administration.
‘Liya Shakthi’ is a credit guarantee product introduced by the NCGIL to facilitate greater access to financing for women-led Micro, Small, and Medium Enterprises (MSMEs) that possess viable business models and sound repayment capacity but lack adequate collateral to secure traditional bank loans. Through NCGIL’s credit guarantee mechanism, Commercial Bank will be able to extend credit to a wider segment of women entrepreneurs, furthering its mission to drive inclusive economic growth.
Business
Prima Group Sri Lanka supports national flood relief efforts with over Rs. 300 Mn in dry rations
Prima Group Sri Lanka has pledged assistance valued at over Rs. 300 million, providing essential Prima food products to support communities affected by the recent floods across the island. This relief initiative is being coordinated through the Ministry of Defence to ensure the timely and effective distribution of aid to impacted families.
As part of this commitment, Prima Group Sri Lanka donated a significant stock of Prima dry rations to the Government of Sri Lanka on 30 November. The consignment will be distributed across multiple severely impacted districts. These supplies will support families facing disruptions to daily life, ensuring they receive assistance as recovery efforts continue.
The handover took place at the Ministry, where the donation was received by the Secretary of Defence, Air Vice Marshal (Retired) Sampath Thuyacontha. Representing Prima Group Sri Lanka, Sajith Gunaratne – General Manager of Ceylon Agro Industries Limited, and Sanjeeva Perera – General Manager of Ceylon Grain Elevators PLC, officially presented the donation.
Prima Group has been standing with the people of Sri Lanka for over 40 years, and this donation reflects its broader commitment to the nation during challenging times. As relief operations continue across the island, the company remains focused on helping families rebuild their lives and supporting the ongoing recovery process in collaboration with the Government Authorities.
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