Business
A life devoted to tea & kindness
Sri Lanka’s Mr. Dilmah, celebrates 71 years of brewing cups of kindness
The unmistakable face of the Sri Lankan family tea company Dilmah, is Merrill J. Fernando, and his invitation to customers – ‘do try it!’. The first tea grower to offer his tea to the world – picked, perfected, packed at source – and kindness was his cup of tea. The family tea business he formed around an uncompromising commitment to Taste, Goodness & Ethical Purpose offers a playbook for business in a post pandemic era. Faith, determination, dedication to taste, goodness, and ethical purpose characterize the Ceylon Teamaker’s story as he turns 91, and celebrates 71 years in tea.
Milestones are important. They chart one’s progress, whether success or failure. Merrill J. Fernando, the founder of Dilmah, entered the tea trade in 1950, as one of a batch of five local youth to be trained in the art of tea tasting, then the preserve of the British. Despite the unshakeable self-belief that has taken him to his present eminence in the industry, even he would not have imagined the varied successes that he would eventually garner.
Dilmah is, undeniably, the global face of Ceylon tea. The brand, with the image of its founder, has carried the message of the purity and authenticity of Ceylon tea to over a hundred countries in the world. However, it is not only in the promotion of the product that Fernando has made his contribution. Over the years he has lent his weight to many initiatives that have benefited the industry and Ceylon tea in its totality.
In the early years, he championed several initiatives which created facilitations and remedied inequalities which hampered the local exporter of value added tea. The tea industry then represented a long value chain, stretching from the local plantation to the retail market overseas, designed for the benefit of the British, allied multinationals and their local associates. He was successful in interposing his authority on this tightly closed system, with a mixture of guile, confrontation and leverage of influence, for the benefit of the local entrepreneur.
The conversion of many traditional Orthodox Tea factories to the more industrial CTC manufacture, in an uncritical emulation of the Kenyan model, would have become a reality decades ago, if not for his reasoned but unrelenting opposition. Had that proposal been implemented, the diversity of Ceylon tea, its uniqueness, would have been obliterated by the depressing sameness of a mass-market product without individuality.
Similarly, the more recent effort to import cheap tea for blending and re-export, the “Tea Hub” concept, proposed by exporters who were prepared to sacrifice the singularity of Pure Ceylon Tea, in favour of short-term profit and denial of long-term damage, would have been launched if not for Merrill Fernando’s fierce opposition. His was the lone voice raised against this scheme which, had it been implemented, would have temporarily enriched a few but impoverished the hundreds of thousands of producers.
Merrill embodies the philosophy he has always advocated, focusing on the significance that lies beyond success. His desire to share his profits has made an unquantifiable and lasting contribution to his community and beyond. In less fortunate communities in his own country and overseas, thousands of lives have been touched by the initiatives of the Merrill J Fernando Charitable Foundation – all funded by the profits of Dilmah tea. The Foundations’ guiding principle of empowerment with dignity underlines its Settlor’s wish to genuinely & positively impact people.
Then there are the multitude of biodiversity conservation, restoration, environmental education & research initiatives of Dilmah Conservation, again endowed by the profits from tea. As the passionate Teaman celebrates his 91st birthday, his commitment is undimmed. In a corruptible and acquisitive society it is rarely that a successful businessman also becomes a force for the common good. Merrill J Fernando is clearly one of the very few exceptions.
An International Monetary Fund (IMF) team led by Evan Papageorgiou visited Colombo from April 3 to 11, 2025. After constructive discussions in Colombo, Mr. Papageorgiou issued the following statement:
“Sri Lanka’s ambitious reform agenda supported by the IMF Extended Fund Facility (EFF) continues to deliver commendable outcomes. The post-crisis growth rebound of 5 percent in 2024 is impressive. Inflation declined considerably in recent quarters and has fallen to ‑2.6 percent at end-March 2025. Gross official reserves increased to US$6.5 billion at end-March 2025 with sizeable foreign exchange purchases by the central bank. Substantial fiscal reforms have strengthened public finances.
“The recent external shock and evolving developments are creating uncertainty for the Sri Lankan economy, which is still recovering from its own economic crisis. More time is needed to assess the impact of the global shock and how its implications for Sri Lanka can be addressed within the contours of its IMF-supported program.
“The government’s sustained commitment to program objectives is ensuring policy continuity and program implementation remains strong. Going forward, sustaining the reform momentum is critical to safeguard the hard-won gains of the program and put the economy on a path toward lasting macroeconomic stability and higher inclusive growth.
“Against increased global uncertainty, sustained revenue mobilization efforts and prudent budget execution in line with Budget 2025 are critical to preserve the limited fiscal space. Boosting tax compliance, including by reinstating an efficient and timely VAT refund mechanism, will help contribute to revenue gains without resorting to additional tax policy measures. Avoiding new tax exemptions will help reduce fiscal revenue leakages, corruption risks and build much needed fiscal buffers, including for social spending to support Sri Lanka’s most vulnerable. Restoring cost recovery in electricity pricing will help minimize fiscal risks arising from the electricity state-owned enterprise.
“The government has an important responsibility to protect the poor and vulnerable at this uncertain time. It is important to redouble efforts to improve targeting, adequacy, and coverage of social safety nets. Fiscal support needs to be well-targeted, time-bound, and within the existing budget envelope.
“While inflation remains low, continued monitoring is warranted to ensure sustained price stability and support macroeconomic stability. Against ongoing global uncertainty, it remains important to continue rebuilding external buffers through reserves accumulation.
“Discussions are ongoing, and the authorities are encouraged to continue to make progress on restoring cost-recovery electricity pricing, strengthening the tax exemptions framework, and other important structural reforms.
“The IMF team held meetings with His Excellency President and Finance Minister Anura Kumara Dissanayake, Honorable Prime Minister Dr. Harini Amarasuriya ; Honorable Labor Minister and Deputy Minister of Economic Development Prof. Anil Jayantha Fernando, Honorable Deputy Minister of Finance and Planning Dr. Harshana Suriyapperuma, Central Bank of Sri Lanka Governor Dr. P. Nandalal Weerasinghe, Secretary to the Treasury Mr. K M Mahinda Siriwardana, Senior Economic Advisor to the President Duminda Hulangamuwa, and other senior government and CBSL officials. The team also met with parliamentarians, representatives from the private sector, civil society organizations, and development partners.
“We would like to thank the authorities for the excellent collaboration during the mission. Discussions are continuing with the goal of reaching staff-level agreement in the near term to pave the way for the timely completion of the fourth review. We reaffirm our commitment to support Sri Lanka at this uncertain time.”
The Commercial Bank of Ceylon has transformed its iconic ‘Foreign Branch’ into the ‘Corporate Branch,’ reaffirming its commitment to delivering dedicated, comprehensive financial solutions to corporate and trade customers.
The Bank said this transformation represents a new milestone in its illustrious journey, and resonates with the rich commercial heritage of Colombo, a city that has long served as a vital trading hub in the region.
Strategically located at the Bank’s Head Office at Commercial House, 21, Sir Razeek Fareed Mawatha (Bristol Street), Colombo 1, this rebranded Corporate Branch stands as a first of its kind in Sri Lanka —a premier financial hub tailored exclusively to the needs of corporate customers, the Bank said. The transformation aligns with the Bank’s vision of providing unparalleled service excellence, bespoke financial solutions, and fostering long-term business partnerships.
Commenting on this strategic initiative, Commercial Bank’s Managing Director/CEO Sanath Manatunge stated: “It is our aspiration that just as the historic Delft Gateway, at which our Head Office is located, once opened the path to the Dutch Fort, our Corporate Branch will chart a new era of enduring and prosperous business collaborations, that will extend beyond Sri Lanka’s shores.”
Fits Retail has partnered with retail giant Abans PLC to showcase the iconic DeLonghi coffee machines at two of Colombo’s most prestigious locations: Abans Elite Colombo 3 and Abans Havelock City Mall showrooms.
At these dedicated demonstration zones, visitors can discover the unparalleled precision engineering and user-friendly technology that have made DeLonghi machines the preferred choice for discerning coffee lovers in more than 46 countries worldwide. Renowned for consistently delivering café-quality espresso, cappuccino, and even specialty cold brews, DeLonghi machines exemplify Italian innovation at its finest.
Yasas Kodituwakku, CEO of Fits Retail, expressed excitement about the collaboration: “This partnership represents our unwavering commitment to bringing global coffee excellence to Sri Lankan connoisseurs. With Abans PLC, we’re creating more than just demonstration spaces; we’re curating premium destinations for an authentic coffee experience.”
“As pioneers of premium lifestyle experiences in Sri Lanka, our collaboration with Fits Retail aligns seamlessly with our vision of elevating everyday moments into exceptional experiences,” said Tanaz Pestonjee, Director Business Development at Abans PLC.
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