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Business focus shifting in a more favorable direction

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By Sanath Nanayakkare

The Global CEO Forum Sri Lanka held at the Galadari Hotel on Thursday showed a clear shift of discussion topics by Sri Lankan business leaders compared to what they were talking about just a year ago.

Completely deviating from airing worries about how to run their businesses amid economic turmoil, business leaders including Unilever Chairperson Hajar Alafifi, Managing Director Brandix Lanka Ltd , Hasitha Premaratne and General Manager, Design and New Construction at Colombo Dockyard Thimira Godakumbura were heard discussing ‘Leadership in Turbulent Times’ and ‘Shaping the Future of Business’ in Sri Lanka.

Dr. Nandalal Weerasinghe, the Governor of the Central Bank, the chief guest at the event who listened to a number of such speeches before it was his turn to speak, appeared to have taken great comfort from this development.

During his speech the Governor said that he was delighted to see that many business leaders who came to him griping about fuel shortages, power cuts, US dollar liquidity issues and uncertainties in executing export orders on time and so on just a year ago, were now talking about robust corporate leadership and innovative ideas for the growth of their companies.

“This in itself is a great transformation. A year ago, some of you here came to me seeking solutions to a list of pressing issues. Today you have gathered here for a completely different mission. Your topics today didn’t include any concerns about acute shortage of foreign currency in the banking system or how badly you are affected by fuel shortage, long duration blackouts or the situations in which your businesses face risks that couldn’t be foreseen or measured.

“I think this signals that the country is moving away from the deep worries of economic turmoil towards macroeconomic stability where risks that can be really difficult to navigate for the business community are no longer there.” However, the Governor pointed out that it was high time for a major export-drive by Sri Lanka’s manufacturing SMEs.

“Very little is known about our SME manufacturing intended for international markets. As Sri Lanka is going to open its market in the near future at a higher level of productivity and competitiveness, protectionism of local businesses wouldn’t secure the operation your businesses unless you scale up your game and enter the global value chain. So, explore ways to connect to international trade rather than competing among yourselves to capture a share in the domestic market. Insulate your businesses to be globally competitive as the market opens for global players,” he warned.

Dr. D.M.A. Kulasooriya, Director General at the National Institute of Business Management (NIBM), the knowledge partner of the event said Global CEO forum Sri Lanka would facilitate invaluable dialogue and collaboration among top business leaders from around the world.

“This forum could serve as a platform for discussing critical global challenges, sharing best practices and fostering innovation. It would enable a CEO to collectively address pressing issues like climate change, economic inequality and technological disruption. By bringing together these perspectives and experiences, Global CEO Forum could generate fresh ideas and solutions that transcend borders.

“It would also promote responsible business practices and ethical leadership setting high standards for corporate governance and social responsibility on a global scale. However, it is crucial to ensure that that such a forum remains inclusive and transparent, representing the interests of not only large multinational corporations but also small and medium enterprises while considering the needs of various stakeholders including employees and communities,” he said.



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It is our collective responsibility to build a nation grounded in unity and strength – President

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President Anura Kumara Disanayake in his Maha Shiva rathri message said that it is our collective responsibility to build a nation grounded in unity and strength.

The full text of the message issued by the President’s media division:

Maha Shiva Rathri is a sacred and joyous occasion celebrated by Hindu devotees across the world in reverence of Lord Shiva. This divine night marks the celestial union of Lord Shiva and Goddess Parvati, as well as the powerful Tandava, Shiva’s cosmic dance of creation and destruction. It symbolises the triumph of wisdom over ignorance, dispelling the darkness of illusion and lighting the path to enlightenment.

On this auspicious night, Hindu devotees observe fasting and engage in spiritual practices, praying for the darkness of ignorance to be replaced by the radiance of wisdom. It is also a time to seek divine blessings for prosperity, peace and fulfilment in life.

The union of Shiva and Parvati is a profound representation of knowledge and power coming together. It reminds us that breaking free from the illusions of division allows us to embrace the truth with open eyes. Today, as we stand at the dawn of a new era, this message is more relevant than ever. Let us tear down the barriers that have kept us apart for generations and unite as one, casting aside discord and embracing togetherness. This is a moment to nurture interfaith harmony, celebrate our diversity and move forward with love and mutual respect, dedicating ourselves to the progress of our beloved motherland.

As we journey towards a brighter future, it is our collective responsibility to build a nation grounded in unity and strength. We are stepping into a time of transformation, embracing political, economic and social renewal, shaping a future that holds promise and hope for all.

On this sacred night, as the glowing lamps of Maha Shiva Rathri illuminate our surroundings, let them also illuminate our hearts, guiding us with unwavering faith along the path we have chosen. Let us walk forward together, hand in hand, in the spirit of peace, unity and shared prosperity.

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USD 900,000 paid monthly for three unused SriLankan aircraft– Dy. Finance Minister

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Harshana

By Saman Indrajith

Finance and Planning Deputy Minister Dr. Harshana Suriyapperuma told Parliament yesterday (25) that SriLankan Airlines was in debt due to political interference under previous governments.

Answering a question raised by Anuradhapura District SJB MP Rohana Bandara, Dr. Suriyapperuma said that such interference had resulted in an ongoing case in international courts.

Dr. Suriyapperuma stated that SriLankan Airlines had earned notoriety for corruption not only here but also abroad.

“Currently, there is an ongoing case in an international court over claims that commissions were sought in respect of the purchase of aircraft. Aircraft have been leased at exorbitant rates, far beyond prevailing market rates,” he said, adding that the actions and decisions of past regimes over the last few decades regarding SriLankan Airlines must be taken into account when examining its debt.

Outlining the measures taken by the government to tackle the staggering debt, the Deputy Minister of Finance said that a five-year programme would be implemented from 2025 to 2030.

Dr. Suriyapperuma explained that despite the allocation of Rs. 20 billion from the 2025 Budget for SriLankan Airlines, the funds would not be utilised for the airline’s operational expenses. Instead, the management had been tasked with transforming it into a self-sustaining entity. Discussions had already begun with relevant stakeholders to restructure the debt, which includes loans obtained in US dollars.

Dr. Suriyapperuma revealed that SriLankan Airlines had been paying USD 900,000 per month in installments for three aircraft that had remained unused for several years. He added that the national carrier currently owned a total of 22 aircraft and employed 3,194 staff members in its main airline operations, along with 2,862 employees in its strategic business units.

Dr. Suriyapperuma also highlighted that the Ministry was currently evaluating those plans, with the expectation of achieving operational profitability and securing government support within the five-year period.

Suriyapperuma assured that measures would be taken to address SriLankan Airlines’ debt without burdening the public.

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NPP govt. continues ban on Tamil organisations

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Thuyyakontha

… Easter Sunday carnage suspects among them

The government has issued a gazette extending the ban on several Tamil diaspora groups, alleging they supported “terrorism-related activities,” The Tamil Guardian has reported.

The gazette, signed by Defence Secretary Air Vice Marshal (retd.) Sampath Thuyyakontha, declared that these organisations have “repeatedly provided financial support for terrorism.” As a result, their financial and economic assets remain frozen, and Sri Lankans are prohibited from having any contact with them. Those that do risk being arrested.

The list also reaffirms the ban on 222 individuals allegedly linked to terrorism.

The organisations blacklisted by the Sri Lankan government include:

*  Liberation Tigers of Tamil Eelam (LTTE)

*  Tamil Rehabilitation Organisation (TRO)

*  Tamil Coordinating Committee (TCC)

*  World Tamil Movement (WTM)

*  Transnational Government of Tamil Eelam (TGTE)

*  World Tamil Relief Fund (WTRF)

*  National Council of Canadian Tamils (NCCT)

*  Tamil Youth Organisation (TYO)

Other organisations listed include several linked to Islamic groups, such as the National Towhead Jema’ah (NTJ) and the Sri Lanka Islamic Student Movement (SLISM).

The Tamil Guardian reported that successive Sri Lankan governments have used terrorism laws to ban Tamil organisations that continue to function openly and legally in the United States, United Kingdom, Canada, and throughout Europe. This ban, however, stifles links between these diaspora organisations and Tamils, making it a criminal offence for Sri Lankan citizens to maintain contact with them.

The reposition of the ban follows a pattern seen in previous years. In 2024, Sri Lanka renewed its prohibition of Tamil diaspora organisations, days after India extended its own ban on the LTTE. The move was widely condemned as politically motivated and an attempt to justify Sri Lanka’s military presence in the “Tamil homeland”.

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