Business
CCI calls for 16-point policy plan for growth of construction industry
by Sanath Nanayakkare
Chamber of Construction Industry (CCI) of Sri Lanka Secretary General/CEO Eng. Nissanka N. Wijeratne points out that Sri Lanka construction industry in the first three quarters of 2024 recorded a growth of 14.2%, 15.5% and 23.8% respectively, and says that industry stakeholders are looking forward to brighter prospects in the Year 2025 and beyond.
“Growth numbers in the said period are a strong indication that we have overcome the recession the construction industry faced during 2020 – 2023. However, to place the country on a trajectory of rapid economic growth and to be able to service Sri Lanka’s foreign loans without further borrowings, the government has to take drastic policy measures, learning from the mistakes in the past. In that context, the following proposals related to the construction industry warrant the keen attention of the government and the policymakers. We kindly propose to the government to consider implementing the following measures and policies with the objective of uplifting the construction industry and transforming it to be a major contributor to the country’s economic growth”.
Projects above Rs. 200 million in value should commence only after undertaking a proper feasibility study. To ensure this a National Planning Commission (NPC) similar to that in India should be established and approval of the NPC should be mandatory for all projects exceeding Rs. 150 million.
Enacting a Public Procurement Law as recommended by the IMF. At present there are widespread violations of the Government Procurement Guidelines. Procurement should be only on competitive bids on BOQ’s based on completed designs and documentation, to ensure timely completion and to minimise cost overruns. There shall be no unsolicited proposals considered.
Procurement action should commence only if adequate funds have been allocated in the budget or secured.
Ensuring transparency in government procurement process, Procurement Committees on works contracts over Rs. 200 million shall have a senior professional nominated by the Chamber of Construction Industry of Sri Lanka, as an industry representative.
Enacting a Building and Construction Industry Security of Payment Act, similar to the law in Singapore.
Implementing the proposal of the Presidential Commission on Simplification of Laws and Existing Regulations to ensure the issue of development permits within 3 weeks by amending the UDA Act to establish a statutory committee with time limits for granting these permits. As a more effective solution, steps should be taken to introduce a fully online approval process within 12 months like in Singapore.
Establishing a development bank to promote innovations and development of projects. NDB and DFCC which were development banks earlier have now become commercial banks after privatising. It is often said that the development banks played a leading role in the growth of tiger economies in Asia.
Amending Arbitration Act to ensure that arbitration hearings and awards shall be concluded within 3 months from commencement similar to the practice in Singapore. Currently, this alternate dispute resolution mechanism takes a long period resembling normal court proceedings.
Adopting a Code of Ethics applicable to all stakeholders of the infrastructure and buildings development process. Already such a code has been developed by the Construction Industry Development Authority (CIDA) which can be adopted as a regulation.
Exempting housing and apartment developments from turnover taxes as such taxes will be an additional cost to the individual buyers of these units.
Introducing a housing loan scheme at a concessionary interest rate of 5% repayable over 40 years to the first-time home builders, similar to the two generations home loan schemes in Europe.
Promoting exportation of construction services by undertaking works contracts abroad whereby the government shall select 10 proven major contractors, in consultation with the Chamber of Construction Industry of Sri Lanka, and facilitate necessary bank guarantees in US$ for one contract each to these companies to undertake works contracts abroad. Each of these major companies shall award sub contracts to 2 local companies, so that through this process 30 local companies will venture out on overseas work.
Promoting the exportation of consultancy services by undertaking consultancy contracts abroad whereby the government shall select 15 proven consultancy firms registered with CIDA in consultation with the relevant professional institute and facilitate necessary bank guarantees and professional indemnity policies in US$ to these firms to undertake consultancy contracts abroad.
Harnessing the full potential of Sri Lanka’s graphite, rock phosphate and mineral sands deposits (in east coast and at Arawakkalu, Puttalam) with high-tech investments.
Enacting the amendments to Construction Industry Development Act, No.33 of 2014 and the regulations and rules thereunder including the Regulations for Contract Adjudication that were discussed at the National Advisory Council on Construction since 2016, without further delay.
Establishing a Standing Steering Committee on Construction (SSCC), chaired either by the President or the Secretary to the President, or a Senior Additional Secretary to the President to regularly monitor the development projects with the authority to give directions to solve any issues impeding progress. This SSCC shall have suitable representatives from the construction industry, appointed in consultation with the Chamber of Construction Industry of Sri Lanka and shall meet at least once every month.
In addition to that, he advocates for a number of policies to promote good governance and reduce corruption to attract more FDIs into the country. A summary of those proposals are as follows.
Changing the Executive Presidential system to Westminster type of governance. Changing the present PR system to a mixed system with the “first past the post” system, district PR and national PR, restricting the Cabinet to 25 members, CIABOC Commissioners to be appointed by the President on the recommendation of Constitutional Council, ethical dealing with any allegedly corrupt politicians, promoting a digital economy with all-round cashless transactions, taking action to recover allegedly ill-gotten assets and gains invested abroad through the Stolen Assets Recovery Initiative (StAR) implemented by the World Bank in collaboration with UN office on Drugs & Crime (UN ODC), and if necessary, introducing new laws.
Business
A nation reframed through food: Sri Lanka’s historic National Geographic debut
By Ifham Nizam
On a bright Colombo morning, beneath the polished lines of Cinnamon Life at City of Dreams Sri Lanka, Sri Lanka quietly redrew the contours of its global image.
This was not merely a programme launch. It was a recalibration.
For the first time, a Sri Lankan-made food and travel series will premiere across South Asia on National Geographic — a platform synonymous with global storytelling. In a region where culinary diplomacy has long been monopolised by larger neighbours, Sri Lanka has chosen its entry point carefully: flavour.
Jayaflava: Celebrating Sri Lanka is a six-part travel and food series hosted by Tasha Marikkar, airing on National Geographic South Asia. It premieres on Friday the 20th at 8.00 p.m., with a repeat on Sunday at 1.00 p.m. The series will broadcast across India, Sri Lanka, Bangladesh, Nepal and the Maldives — positioning Sri Lanka’s culinary identity before one of the most dynamic regional audiences in the world.
The series is the brainchild of Marikkar — author, food storyteller and an unapologetic champion of Sri Lankan cuisine. What began as a cookbook evolved — through persistence, private backing and creative risk — into a broadcast production that now carries Sri Lanka’s culinary narrative beyond its shores.
“This was never just about recipes,” Marikkar told the audience. “It was about representing Sri Lanka as it truly is — multi-ethnic, modern, chaotic, generous and absolutely obsessed with flavour.”
Her long-time collaborator Afdhel Aziz framed it in strategic terms.
“Sri Lanka has always had depth and brilliance,” Aziz said. “What it hasn’t always had is ownership of its narrative. When you tell your story authentically on a platform like National Geographic, you’re not just entertaining — you’re reframing perception.”
Perception, in tourism economics, is currency.
Bakmee Perera Vice President – Communications Planning and Media Strategy at Dentsu Grant Media, described the partnership with National Geographic India — part of the Jio Star Network and Disney International — as a structural milestone.
“This marks Sri Lanka’s first long-term content partnership agreement with an international network,” she said. “It extends beyond linear television into digital platforms. It is a significant step in global content affiliation.”
For Sri Lanka’s hospitality industry, the timing is strategic. Indian arrivals have rebounded strongly, surpassing pre-2018 levels, and industry leaders see culinary storytelling as a natural extension of destination branding.
Kamal Munasinghe, Senior Vice President – Colombo Hotels at Cinnamon Hotels & Resorts and General Manager of Cinnamon Life, put it plainly.
“We have always spoken about sun, sea and sand,” he said. “But we have not spoken enough about our food. Other destinations have built tourism identities around cuisine. Sri Lanka has not done enough in that space.”
He recalled stopping on the roadside en route to Ella for oil roti served with mushroom curry — a humble meal prepared by a woman supporting her family.
“That is the story we are bringing to the world,” he added. “There is culture, resilience and love in that plate.”
Cinnamon Hotels & Resorts, the title sponsor, features four of its properties in the series, including Cinnamon Grand Colombo, Cinnamon Wild Yala and Cinnamon Bentota Beach — the latter a tropical modernist icon designed by Geoffrey Bawa.
Bawa once reframed Sri Lanka architecturally, merging landscape with structure in ways that drew global admiration. In many respects, Jayaflava attempts a similar reframing — merging food, people and place into a narrative that feels both intimate and expansive.
The series moves through midnight kottu stalls, animated kitchen debates, artists’ studios and coastal bars. It captures contradiction — humour alongside hardship, ambition alongside nostalgia. It is not polished tourism propaganda, but textured storytelling.
Sri Lanka has often been presented to the world as either idyllic escape or troubled headline. Rarely as complex, contemporary and confident. By choosing food — the most universal of connectors — as its narrative vehicle, the country sidesteps cliché and leans into authenticity.
As the morning launch concluded, one message lingered: this is not simply a television debut. It is soft power in motion.
A nation, reframed — one dish at a time.
Business
Bourse buoyed by IMF chief’s positive observations
CSE grading was brisk and investor sentiment rose to a great extent when
the International Monetary Fund’s Managing Director Kristalina Georgieva, who is on a visit to Sri Lanka, made positive remarks on the progress of the local economy.
She made these comments after meeting President Anura Kumara Dissanayake and other relevant officials.
Consequent to these developments both indices moved upwards. The All Share Price Index went up by 37.02 points, while the S and P SL20 rose by 47.12 points.
Turnover stood at Rs 5.66 billion with nine crossings. Those crossings were reported in ACL Cables, where 1.5 million shares crossed to the tune of Rs 154.6 million; its shares traded at Rs 103,CW Macky two million shares crossed for Rs 82 million; its shares sold at Rs 41, Dipped Products 1 million shares crossed for Rs 61 million; its shares traded at Rs 58.
Colombo Dockyard 350,000 shares crossed to the tune of Rs 56.3 million; its shares traded at Rs 151, HNB 100,000 shares crossed for Rs 45.5 million; its shares traded at Rs 455,Royal Ceramics 500,000 crossed for Rs 25.5 million; its shares sold at Rs 51 and JKH one million shares crossed to the tune of Rs 22.4 million; its shares sold at Rs 22.40.
In the retail market top seven companies that mainly contributed to the turnover were; Softlogic Capital Rs 511 million (51.2 million shares traded), ACL Cables Rs 439 million (4.2 million shares traded), Asia Siyaka Rs 307 million (19.5 million shares traded), Sampath Bank Rs 251 million (1.6 million shares traded), HNB Rs 231 million (507,000 shares traded), Softlogic Finance Rs 205 million (31.4 million shares traded) and HNB Finance Rs 171 million (19 million traded). During the day 289.2 million share volumes changed hands in 42524 transactions.
It is said that the banking and manufacturing sectors performed well. Sampath Bank, for instance, was notable. Financial sector too performed well; especially Softlogic Finance.
Yesterday the rupee was quoted at Rs 309.42/44 to the US dollar in the spot market from Rs 309.40/50 the previous day, dealers said, while bond yields were broadly steady.
A bond maturing on 15.10.2029 was quoted at 9.40/45 percent.
A bond maturing on 01.03.2030 was quoted flat at 9.50/53 percent.
A bond maturing on 15.03.2031 was quoted at 9.70/75 percent, from 9.68/72 percent.
A bond maturing on 01.10.2032 was quoted at 10.10/42 percent, up from 10.10/13 percent.
A bond maturing on 01.06.2033 was quoted at 10.38/43 percent, up from 10.35/40 percent.
A bond maturing on 15.06.2036 was quoted at 10.60/65 percent.
An auction of Rs. 60,000 million Treasury bills was going on.
By Hiran H Senewiratne
Business
A photograph of a Jaffna youth becomes a global symbol for Sri Lanka’s stalled reconciliation
In the world of travel photography, some images do more than showcase a destination; they act as a silent mirror to a nation’s unresolved history. When British photographer Mark Julian Edwards’ portrait, ‘The Boy on the Bus,’ claimed the People’s Choice Award at the 2026 Travel Photographer of the Year (TPOTY) awards, it did more than celebrate technical brilliance. It signaled that the global community is still fixated on the scars of a region where the promise of a post-2009 peace has yet to be fully realised.
While the current NPP government often celebrates a ‘reunited’ Sri Lanka under President Anura Kumara Dissanayake, this award-winning shot turns the gaze toward Jaffna – a city that remains the emotional and political epicenter of the North-South divide. Captured through a rusting bus window, the boy’s expression – described as ‘fragile yet incredibly resilient’ – speaks to the persistent chasm between the North and the South that has remained unbridged nearly two decades after the war’s end.
Whatever the rhetoric from political platforms regarding the end of distrust, the international resonance of this image suggests that the world recognises a different reality. The capture of a northern commute is not merely a travel detail; it is a reminder of a landscape where the path to a predictable future is still viewed through a prism of distrust and uncertainty.
The significance of this win lies in its source: the public vote. Out of 20,000 entries, thousands of people from 160 countries chose this specific face. This global endorsement serves as a poignant reminder that while the local reconciliation process may be stalled in policy and paperwork, the human element of the conflict continues to haunt the international imagination.
The boy represents a generation born after the guns fell silent, yet his quiet, searching eyes reflect the weight of a reconciliation process that many feel has been more about infrastructure than true social healing. In the North, where the dust of history is still settling, such images strip away the veneer of normalcy to reveal the underlying scars that politicians often ignore.
The success of Edwards’ work comes at a time when the Sri Lankan Tourism Bureau and Jetwing Hotels are looking to nurture the next generation of local storytellers. However, the global acclaim for ‘The Boy on the Bus’ suggests that the most vital stories to be told are not the ones that look like postcards, but the ones that acknowledge the sensitivity and professional excellence required to document a people still waiting for a ta truly inclusive future.
As this image makes its way into international galleries and media outlets like the BBC, it stands as a testament to a hard truth: a photograph can win international accolades but the bridging of the political and social chasm remains Sri Lanka’s true, unfinished business.
The 2026 Travel Photographer of the Year winners were showcased and celebrated in Sharjah – UAE, Birmingham – UK and Rome – Italy. This year’s programme includes a special mentorship and winners’ trip to Sri Lanka, hosted by the Sri Lanka Tourist Board and Jetwing Hotels.
By Sanath Nanayakkare
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