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ComBank undertakes to reforest 100 hectares in Kandegama, Polonnaruwa

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A 100-hectare swath of degraded habitat belonging to the Kandegama forest in the Dimbulagala range of the Polonnaruwa District is to be reforested by the Commercial Bank of Ceylon under the latest environment-linked commitment of Sri Lanka’s benchmark private bank.The area, which is home to elephants, leopards, deer, and porcupine and is also climatically significant, is to be restored under this project in collaboration with the Forest Department.

Forests in the North-East area of the country have a catalytic effect on the North-East monsoon and the reforestation of Kandegama is expected to improve rainfall stability in the region in addition to paving the way for other environmental benefits including climate change mitigation, biodiversity conservation, and habitat improvement, the Bank said.

“We are determined to ensure that the current economic challenges do not side-track our commitments to chosen nationally-important causes,” Commercial Bank Managing Director/CEO Sanath Manatunge said. “As the only Bank in Sri Lanka to achieve 100% carbon neutral status and as a Bank which is committed to preserve the environment, Commercial Bank is very pleased to join hands with Forests Department for this reforestation project. With this project, Commercial Bank continues its support to Sri Lanka’s efforts to increase its forest cover and conserve habitats.”

He noted that Sri Lanka has pledged to increase its forest cover up to 32% by 2030 under the 2015 Paris Agreement of the United Nations and the country also plans to restore 200,000 hectares of deforested and degraded forest by 2030 in response to the Bonn Challenge which seeks to bring 350 million hectares of landscapes into restoration, globally.

The Kandegama forest occupies an area of 600 hectares. The dominant vegetation of the forest is scrub and bushes such as ‘Hinguru’ and ‘Babila’ and invasive plants. Scattered stands of large trees such as ‘Madan,’‘Mayila’ and ‘Kon’ offer refuge to its wildlife.

The reforestation project funded by the Bank envisages the planting and maintaining of 62,500 seedlings of local species and extends to reducing the danger of forest fires by 95% by removing invasive flora such as ‘Mana’ and ‘Illuk’ grass that hinder the growth of other plants and are susceptible to forest fires during the dry season. This will also aid natural regeneration and control cattle grazing.

Funds provided by Commercial Bank will be used to conduct a land survey and map out the 100 ha of forest under the purview of the project, a study of its vegetation to understand the effects of other activities on species composition and density, the clearing of strips to the width of 5m and planting of seedlings, establishment of fire lines for fire control by removing ground vegetation up to a 10m strip around the plantation area to avoid external fires spreading to the forest land, fertilising and watering during prolonged drought periods, maintaining and monitoring the forest land and fire belt for a period of three years, and the performance of annual sample surveys.

The Bank’s CSR Trust also focuses on marine conservation under its environmental initiatives. Recent such initiatives of the Bank include support to the Koggala Mangrove Restoration and Conservation Project. The Bank has funded the planting of a belt of 2,000 mangrove plants and 750 mangrove associates around a little island in the Koggala Lake, along with 500 terrestrial plants on the island. Commercial Bank has also provided financial assistance to plant 1,000 mangrove trees along the Mannar coastal belt and to clean-up the beach area.

Sri Lanka’s first 100% carbon neutral bank, the first Sri Lankan bank to be listed among the Top 1000 Banks of the World and the only Sri Lankan bank to be so listed for 12 years consecutively, Commercial Bank operates a network of 268 branches and 940 automated machines in Sri Lanka. Commercial Bank is the largest lender to Sri Lanka’s SME sector and is a leader in digital innovation in the country’s Banking sector. The Bank’s overseas operations encompass Bangladesh, where the Bank operates 19 outlets; Myanmar, where it has a Microfinance company in Nay Pyi Taw; and the Maldives, where the Bank has a fully-fledged Tier I Bank with a majority stake.



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Cost-effective clearance of goods across borders to determine worth of Customs Paperless Declaration

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Containers held up at the Port of Colombo

By Ifham Nizam

The introduction of the Customs Paperless Declaration from October 1 could mark an important step in Sri Lanka’s efforts to modernise trade, but its real value will depend on whether it reduces the time and cost of moving goods through the country’s borders, Customs House Agents & Traders Association President Mohamed Niyas said.

Niyas warned that digitising Customs declarations alone would not necessarily translate into faster cargo clearance or lower costs for businesses.

‘Expecting a dramatic improvement in clearance speed under the present conditions is like expecting Ferrari performance from a Morris Minor configuration, he said.

For importers and exporters, the issue extends well beyond paperwork. Every additional hour or day that cargo remains in the clearance chain can have wider consequences for businesses, including increased port and storage-related costs, additional working-capital requirements, uncertainty over delivery schedules and disruptions to production and distribution.

Niyas said the competitiveness of Sri Lanka’s trading sector ultimately depended on how efficiently goods could move through the country’s border-clearance system.

‘The real bottleneck is not merely the absence of paper. It is the entire clearance ecosystem—the limitations of the existing ASYCUDA World system, excessive regulatory interventions by Other

Government Agencies, multiple approvals, physical examinations, manual interventions, fragmented processes and institutional constraints, he said.

He cautioned that unless these bottlenecks were addressed, there was a risk that the paperless initiative would merely digitise existing bureaucracy.

‘If these underlying constraints remain unchanged, there is a real risk that the new paperless system could become another “copy-and-paste road show”—where an old, complex clearance process is simply transferred onto a digital screen without fundamentally changing the process itself, Niyas said.

For businesses dependent on imported raw materials, machinery, components and other inputs, clearance efficiency can directly affect the wider supply chain.

Delays at the border can create uncertainty for manufacturers, distributors and retailers, while exporters can face difficulties meeting delivery schedules when imported inputs or export consignments are held up.

Niyas therefore argued that the success of the October 1 initiative should be judged by its impact on trade flows rather than by the number of declarations processed electronically.

‘Paperless does not automatically mean faster, he said. ‘Digitising a slow process does not make the process fast. It only makes the slow process digital.’

He said Sri Lanka needed to move towards what he described as “process-less Customs”—a system in which unnecessary procedures are eliminated rather than simply converted into electronic procedures.

Among the reforms he called for are simplification of Customs declarations and approval workflows, improvements to the functionality of ASYCUDA World, greater use of risk-based inspections and better integration of Other Government Agency approvals.

Niyas also called for the elimination of repetitive document submissions and physical endorsements, greater use of pre-arrival processing, sufficient capacity for digital document uploads and clearly defined service-level timelines for Customs and OGAs.

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China backs Sri Lanka’s Non-aligned stance to counter regional pressures

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Chinese Ambassador Wei Huaxiang delivering the keynote address in Colombo

By Sanath Nanayakkare

As global attention has fixed on the high-level diplomatic choreography at the United Nations General Assembly in New York, a subtler, yet profound geopolitical signal was sent from Colombo, yesterday.

In a major address marking the founding anniversary of the People’s Republic of China, newly appointed Chinese Ambassador Wei Huaxiang chose to anchor bilateral relations not just in modern trade or infrastructure, but in a shared respect for Sri Lanka’s legacy of non-aligned independence.

By explicitly invoking Sri Lanka’s foundational role in the 1976 Non-Aligned Summit, Beijing was doing something unexpected in an era defined by fierce great-power rivalry: it was officially validating a small island nation’s right to maintain an independent foreign policy stance.

The Strategic Value of Independence

For decades, nations caught in the crosshairs of major-power competition have faced intense pressure to pick sides. Yet, Ambassador Wei’s embrace of Colombo’s non-aligned tradition signaled a different diplomatic playbook. Instead of demanding alignment, Beijing was framing its partnership as a reliable counterbalance to regional pressures. By honouring Sri Lanka’s diplomatic autonomy, China was effectively reassuring smaller economies that sovereign independence and robust economic cooperation can coexist.

Beyond Ports and Industrial Zones

This diplomatic framing reframed the narrative surrounding major collaborative ventures like the Colombo Port City and Hambantota Port. While foreign analysts often view these projects exclusively through the lens of strategic rivalry, Beijing’s diplomatic messaging tied them back to a historical ethos of solidarity—evoking memories of the 1952 Rubber-Rice Pact.

By marrying economic projects with a stated respect for non-alignment, China is positioning itself as a steadfast stakeholder that respects Sri Lanka’s internal agency during difficult economic and political seasons.

As both nations look toward major milestones in 2027—including the 70th anniversary of diplomatic ties—this nuanced diplomatic move revealed how historic traditions are being leveraged to navigate modern multipolar realities.

For global observers, the takeaway was clear: in the shifting architecture of Asian geopolitics, respecting a nation’s historical neutrality may just be the most effective way to secure a lasting partnership, a diplomatic masterclass that Ambassador Wei Huaxiang executed in style.

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Sri Lanka Insurance Life appoints Dr. Sameera Dharmasena Chief Executive Officer

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Dr. Sameera Dharmasena

Sri Lanka Insurance Life (SLIC Life), the nation’s largest and strongest Life Insurer, is pleased to announce the appointment of Dr. Sameera Dharmasena as its new Chief Executive Officer, effective 22nd September 2026.

Dr. Dharmasena is a distinguished insurance professional with over 21 years of experience in the Sri Lankan insurance industry, having held senior leadership positions across several leading insurance companies affiliated with some of Sri Lanka’s largest business conglomerates. His extensive career spans both local and multinational insurance environments, bringing together broad industry expertise, strategic leadership and a strong commitment to the advancement of the insurance profession.

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