Business
Be patient, I will gradually turn the ailing economy around: PM
‘We will certainly repay friendly countries that support us with funds’
by Sanath Nanayakkare
Prime Minister Ranil Wickremasinghe said on Saturday that he would gradually turn around the difficult situation faced by families of the country and create a situation where they can feed themselves three times a day.He said so responding to a question posed by the BBC whether he had some kind of timeline for turning around the ailing economy, acute shortages and queues snaking through the roads for fuel, LP gas, milk powder etc.
“Whenever I functioned as prime minister of the country, I always ensured that people were able to have three meals a day. So I want to end this era of queues and shortages and create an environment where they can go back to their normal way of living,” he said.
When asked whether he would get the support of the parliament to do that, he said,”I will have the approval of the parliament to engage in the work that needs to be done. Some will support and some others will oppose it, but I am looking to get the support of everyone to achieve this objective urgently.”When asked whether he could get on well with the President to get his plans executed, he said,” I will do my part. I will act to restore the economy. I will help preserve the rights of the people. We have agreed that GotaGoHome should continue to exist. Now we are discussing the facilities we should give these youths to promote their cause. There’s another group which clamours ‘Ranil go home’. I’m a man who was born in Colombo, and this is my home, and I have no place else to go,” he said.Responding to a question on the May 9 incident that incited violence in many parts of the country he said, “I have told the IGP to take necessary action. I will follow up on the progress made into the investigations.”
Talking about the international support for Sri Lanka to get over the crisis situation he said,” I met with a number of ambassadors. I have a good rapport with them. So let’s see what can be done. We need to have discussions with the IMF as well. If we can get our macro economy in good shape and convey the message to the world that we are acting with proper fiscal discipline, other friendly countries will also step forward to help us.”
“I am going to change many of the policies of the Rajapakasa government,” he said.
“The next few weeks will turn out to be the most difficult period for us. Today the voice of the youth has emerged because of the issues they face. GotaGoGama is a symbol of that. We will preserve that site through the functioning of a committee and we should provide it the facilities it needs. These youths should administer that site, not the government. We have to support it. They have sent me eight proposals and I would like to discuss with them. We have to transform things by listening to them.”
Asked what his message to the internal community was, he said,” We need your support to get back on our feet. We need your financial assistance for a year. The funds we receive from you, we will certainly repay.”
Wickremesinghe in his message for the Vesak Full Moon Poya Day said, “As conveyed in Buddha’s preaching to the rulers of Licchavi Kingdom, Sri Lankans should also gather and take decisions in unity to come out of this crisis situation that has befallen the country.
In a world where every strong cuppa tells a unique story, Sri Lanka’s famed Ceylon Tea continues to carve its legacy – one cup at a time. The latest tea export figures for March 2025 reveal a tale of resilience, with total shipments rising to 23.43 million kilograms, up from 21.25 million kgs the previous year.
But the real headline is; Libya’s staggering 416% surge in Ceylon Tea imports – marking a bold new chapter in Sri Lanka’s tea trade. While traditional markets like Iraq and Russia held steady, Libya emerged as the ‘breakout star’, importing 5.31 million kgs in the first quarter of 2025 – a jaw-dropping leap from just 1.03 million kgs in 2024.
This explosive growth signals a burgeoning demand for Sri Lanka’s premium leaves in North Africa, where the rich, aromatic flavors of Ceylon Tea are winning hearts and palates.
Quadrupling Libya’s appetite for Ceylon Tea even in challenging global markets, is reflecting the fact that Sri Lanka’s tea can find loyal fans in evolving markets.
However, while the export values shine in USD terms, the rupee value of tea exports dipped slightly – a stark reminder of currency fluctuations impacting export earnings. Yet, the broader trend remains positive for Ceylon Tea, with cumulative exports for Q1 2025 reaching 63.21 million kgs, up from 62.33 million kgs last year.
Key markets like Iraq (+7%) and Chile (+41%) showed strong growth, while Russia and the UAE saw mild declines. Meanwhile, Tea Bags and Instant Tea have posted gains even in rupee terms – marking a bright spot in an otherwise mixed landscape, where Tea in Bulk and Green Tea segments have witnessed a decline against the same period of the previous year.
On the production front, tea production for the month of March 2025 totalled 24.43 M/Kgs, showing an increase of 4.86 M/Kgs vis-à-vis 19.57 M/Kgs of March 2024. All elevations showed an increase in comparison with the corresponding month of 2024.
“As Sri Lanka’s tea industry navigates global headwinds, the increase in production and Libya’s soaring demand could offer a breather,” analysts said.
(Source: Forbes & Walker Pvt Ltd, Sri Lanka Customs, Central Bank of Sri Lanka)
By Sanath Nanayakkare
Photo Credit: Sri Lanka Executive Aviation Services
In a groundbreaking collaboration set to transform Sri Lanka’s premium coffee landscape, 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.
This exclusive partnership presents a rare opportunity for coffee aficionados to experience firsthand why DeLonghi has become synonymous with coffee perfection worldwide.
With a heritage spanning over 100 years, DeLonghi proudly holds the title as the number one coffee machine brand in more than 46 countries, celebrated globally for its exceptional quality, innovation, and unrivaled Italian craftsmanship. Fits Retail’s collaboration with Abans PLC brings these legendary machines directly to Sri Lankan coffee enthusiasts, creating immersive experience zones designed to elevate everyday coffee moments into extraordinary rituals.
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.
Business
Ceyline Group and Lion Brewery Forge a Sustainable Future with Eco-Friendly Warehousing and Distribution.
Ceyline Total Solutions, the end-to-end logistic solutions provider of Sri Lanka’s leading maritime and logistics group Ceyline, has built Lion Brewery’s first sustainability-focused warehousing and distribution center in just 100 days.
Located in Tangalle, the facility reflects a strong commitment to environmental responsibility. Half of the structure is made from repurposed shipping containers, reducing both waste and carbon emissions. The project, executed by Ceyline’s brand for sustainable living spaces “Out of the Box” features interior fittings made from recycled and reused brewery waste materials, maximizing sustainability and cost efficiency. Ceyline also has already applied for CEB approval to install solar power for the facility to ensure its operation is powered by clean and green energy.
Lion Brewery will further its mission for an efficient and eco-friendly supply chain by incorporating elements such as electric forklifts, rainwater harvesting, and energy-efficient lighting.
This collaboration not only delivers a pioneering green logistics facility but also sets a new benchmark for sustainable warehousing in Sri Lanka. It showcases the power of collaborative innovation in driving responsible industrial development.
Kaveen Gayathma, Senior Vice President (Outbound Logistics) of Lion Brewery, added, “This project further strengthens our distinctive ‘route-to-market’ approach. Our collective efforts in conceptualizing,
drafting, and crafting have culminated in the creation of a truly one-of-a-kind model. The company’s unwavering commitment to environmental stewardship and sustainability is clearly demonstrated here, all while achieving our strategic objectives in a practical and cost-effective manner.”
If the opposition wishes to surpass the National People’s Power (NPP), they must demonstrate their commitment to ending corruption and fraud- Prime Minister
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