Business

Red Cross raising funds to aid vulnerable communities in Sri Lanka

Published

3 years ago

2022/10/17

Thilina Walpola

= 96% of more than 2,900 households surveyed have been affected by the current crisis in some way

=Launches urgent call for humanitarian financing until core economic issues are addressed by government

= Says humanitarian assistance for a certain period of time can mitigate risks of negative coping mechanisms

=Effort not seen easy as donors prioritize among other crises in the world

By Sanath Nanayakkare

A survey report produced by the International Federation of Red Cross and Red Crescent Societies provides first-hand evidence of how the most vulnerable people, who are already under the poverty line, are being driven further towards despair.The report gravely warns that without immediate humanitarian interventions, the impact on communities is likely to be long-lasting and cumulative.To meet the country’s spiralling needs, the IFRC has launched an Emergency Appeal for urgent humanitarian assistance for 28 million Swiss francs in support of Sri Lanka Red Cross. The Island learned that 15% of the target amount of donations has already been received from donors in the U.K., Canada, Japan and a number of other nations that are empathetic towards Sri Lanka.

The needs assessment conducted by Red Cross in 11 of the country’s 25 districts has found that 96% of more than 2,900 households surveyed have been affected by the current crisis in some way—with food insecurity, health, livelihoods, and nutrition among the top concerns. Deteriorating physical safety and security, as well as violence against women and children stood out in the report.It uncovered worryingly high problem of access to food, either because of high cost, income stress or lack of availability. Runaway inflation and loss of livelihoods have doubly impacted people’s ability to cope with the record cost of living. Income loss is causing significant food insecurity, while inflation is driving up the cost of medicine and fuel costs are preventing access to essential healthcare.

Alexander Matheou, Regional Director, Asia Pacific of the International Federation of the Red Cross and Red Crescent Societies who was on a visit to Colombo to meet with affected communities, government authorities and the diplomatic community said:

“The deepening economic crisis is forcing people to make heartbreaking choices between going hungry, buying life-saving medicine, or finding the money to send children to school. Our survey is not exhausted, so we cannot say it’s a final statement, but it indicated that vulnerability is being experienced evenly across the country and some groups are more affected than others.”

“I think that a survey like this one is going to help because it’s evidence-based. Our argument is widely accepted that in an economic crisis like this vulnerable communities’ income is affected, and so, the coping mechanisms tend to be negative. They sell their assets. Children may drop out of school, girls may get married early; these are all negative coping mechanisms from which it is very difficult to recover. Our argument is that humanitarian assistance for a certain period of time can mitigate the risks of some of those negative coping mechanisms. This is not a permanent solution. So we are always in favour of development financing, World Bank loans, ADB loans, debt restructuring and assurances from bilateral partners because ultimately the solution has to be found out at governmental level. We hope that friends of Sri Lanka will recognise that humanitarian support should be part of how they are trying to work with this country throughout this crisis; not the core issues, but the humanitarian aspects of it. We hope we will be successful in persuading donors. I understand that donors will have to prioritize among other crises in the world. So I don’t think it will be easy. But I think the argument is strong and this survey will help us make this argument in a more compelling way.”

“Hopefully this economic crisis won’t last forever. So we think if we can intervene for a year two for the most vulnerable people and can mitigate the risks of those negative coping mechanisms being adopted, that will be a good intervention.”

“The ideal intervention will be with cash distribution because cash allows people to make those choices. Should I eat? Should I take medicine? Do I fix my roof? What is posing the greatest pain and risk in my life? Sometimes you have to provide nutritional support for pregnant mothers and breast-feeding mothers. That will be one of the interventions we make. We may look at an agreement with the government for school feeding programmes which is a very good way to keep children in school. If any ongoing school feeding programme is stopped, that’s another area we can intervene. We are also very keen to find ways to have feedback mechanisms and raise awareness on the risks of sexual and gender-based violence because the prevalence of these goes up when poverty increases. We are keeping an eye on that as well. Anything we can do to mitigate that we shall try.

“Humanitarian action is particularly important which is by nature neutral and impartial. Humanitarian financing can alleviate suffering of vulnerable people in a non-political way and when that financing is released, it will not be politicised.”

“Our main priorities remain meeting humanitarian needs at its worst. Unless this is done effectively and quickly, people who are struggling now will find themselves on a demeaning pathway to destitution from which there is no escape. The time to act is now.” Swiss franc to US dollar exchange rate: 1.001 USD equals 1 Swiss franc.

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Business

Sri Lanka’s midnight fuel price hike sparks frustrations amidst claims of broken assurances

Published

11 hours ago

2026/03/11

Sahan Weerasooriya

The government’s decision to raise fuel prices at midnight on March 9 has drawn criticism from observers who say the move contradicts earlier assurances that prices would remain stable for at least a month due to sufficient reserves already imported.

The surprise revision in fuel prices has triggered public concern and renewed debate over the government’s fuel pricing policy, with critics accusing authorities of misleading the public about the stability of supply and prices.

Officials had earlier sought to calm fears of potential shortages or sudden price increases, insisting that the country had adequate fuel stocks secured through prior imports. However, the latest price hike has raised questions about the reliability of those assurances.

Economic analysts say the development reflects the continuing vulnerability of Sri Lanka’s fuel market to global price volatility and geopolitical tensions affecting energy supply chains.

Aminda Methsila Perera, an economics professor at Wayamba University of Sri Lanka, said the latest move raises broader questions about the transparency of the government’s pricing strategy.

“The question arises whether the government is following a grey-market policy in this regard,” Prof. Perera said, suggesting that the manner in which prices are adjusted may not fully reflect a transparent or predictable formula.

Meanwhile, directors of the state-run Ceylon Petroleum Corporation (CPC) defended the decision, saying the increase was a pre-emptive measure aimed at cushioning the country from steeper price shocks in the near future.

A CPC director argued yesterday that implementing a moderate price revision now would allow authorities to manage potential increases more effectively should the international situation deteriorate further.

Meanwhile, an analyst said that the move was intended to preserve the financial stability of the CPC and its bottom line although President AKD had said in parliament that the Treasury had enough funds to mitigate global shocks.

However, they say the abrupt nature of the midnight announcement risks undermining public confidence, particularly after repeated assurances that prices would remain unchanged in the short term.

With global energy markets remaining volatile, analysts warn that further price adjustments cannot be ruled out if international crude prices continue to climb or if regional supply disruptions intensify.

Meanwhile, an economist said that with the unfolding scenario, many Sri Lankans already grappling with the rising cost of living, have been tossed to the fire from the frying pan.

By Sanath Nanayakkare

Business

Women-only screening of “Gahanu Lamai” for International Women’s Day 2026

Published

11 hours ago

2026/03/11

Sahan Weerasooriya

In celebration of International Women’s Day 2026, Havelock City Mall (HCM) hosted what is believed to be one of Sri Lanka’s first women-only cinema screenings, presenting a culturally significant and deeply meaningful tribute to womanhood.

Held at Scope Cinemas, Havelock City Mall, the exclusive event featured a complimentary screening of the iconic Sri Lankan film Gahanu Lamai, and welcomed an audience comprising corporate invitees, celebrities, female staff of Havelock City Mall, and winners of a special social media contest.

The occasion was further distinguished by the presence of Dr. Ranee Jayamaha, Chairperson of Overseas Realty (Ceylon) PLC, who graced the event and added significance to this special celebration.

Guests arrived dressed in purple, the internationally recognised symbol of dignity, solidarity, and justice, reinforcing the spirit and symbolism of the occasion. Through the screening of Gahanu Lamai—the acclaimed work of the late Dr. Sumitra Peiris, Sri Lanka’s first female film director—Havelock City Mall created a platform for reflection on the enduring cultural and contemporary relevance of women’s stories.

Commenting on the initiative, Mrs. Avanthie De Zoysa, Assistant General Manager of Havelock City Mall, stated:

“As a female manager of this organization, I am incredibly proud of this initiative. It is a heartfelt gesture of appreciation for the women who contribute so tirelessly to their families, to our society, and to the country at large. We wanted to provide a space that wasn’t just about celebration, but about acknowledging the profound impact women have in every sphere of life.”

Business

Novus Technologies joins LankaPay Technovation Awards 2026 as Platinum Sponsor

Published

11 hours ago

2026/03/11

Sahan Weerasooriya

Novus Technologies has announced its partnership as the Platinum Sponsor for the LankaPay Technovation Awards 2026, reaffirming its commitment to driving innovation, financial inclusion, and the future of fintech in Sri Lanka.

Organised by LankaPay (Private) Limited, the LankaPay Technovation Awards has emerged as a premier industry platform recognising institutions that are spearheading digital transformation across the country.

The initiative celebrates banks, financial institutions, and technology providers that are enhancing customer experience through secure, efficient, and inclusive digital payment solutions.

Industry analysts note that the awards have played a pivotal role in strengthening Sri Lanka’s fintech ecosystem by encouraging competition, innovation, and collaboration among stakeholders.

Over the years, the platform has highlighted advancements in real-time payments, mobile banking, and integrated digital financial services, supporting the broader national agenda of building a digitally empowered economy.

Novus Technologies, a leading technology solutions provider to the banking and financial services sector, said its sponsorship reflects its long-standing dedication to accelerating the adoption of digital financial services and enhancing technological capabilities across the industry.

“As Sri Lanka continues its digital transformation journey, it is vital that we collectively foster innovation while ensuring security and inclusivity within the financial ecosystem,” a spokesperson for Novus Technologies said.

“Supporting initiatives such as the LankaPay Technovation Awards aligns with our mission to enable next-generation fintech solutions that empower institutions and customers alike.”

The awards ceremony is expected to bring together senior banking executives, fintech leaders, policymakers, and technology innovators, offering a platform to recognise excellence and share insights on emerging trends shaping the future of digital finance in Sri Lanka.

Novus Technologies is a forward-thinking technology solutions provider specialising in delivering innovative, secure, and scalable solutions to the banking and financial services industry.

With a strong focus on digital transformation, system integration, and next-generation fintech solutions, the company continues to play a key role in shaping Sri Lanka’s rapidly evolving digital landscape.

By Ifham Nizam