Business
Dark side of the energy picture in Sri Lanka

The “rural energy crisis” has been receiving increasing attention from development policy makers because it affects the very survival of the vast majority of the world’s population, who live in the rural areas of the developing countries, and is also deeply inter-linked with the whole concept of sustainable development. The linkages between rural energy and sustainable development, however, need to be understood in the overall context of the energy situation in the developing countries. This also falls extremely well with SDG 7 of Agenda 2030 as an essential and a vital strategy of achieving the same.
The key message for policymakers is: Give wood energy a fair chance in the energy mix of your country in order to make the world a more sustainable and more environmentally friendly place.
Deviating from the conventional classification of energy as fuel sources which hides many development issues ,the Sri Lanka energy demand can be identified as consisting broadly of two major groups of energy (1) Centralized Commercial Energy consisting of electricity, fossil fuels and commercial renewable energy sources (2) Decentralized non commercial energy consisting of mainly biomass and other indigenous energy resources.
According to Sustainable Energy Authority (SEA) data, the largest component of energy demand in Sri Lanka in 2018 is for biomass energy amounting to 46.2.followed by 41% petroleum and 12.3% electricity (energy balance 2018). Biomass is also the main source of energy in household and industry comprising of 64..9% and 74..7 % respectively which highlights its importance as the life blood of the rural sector comprising of 81% of the total population and the industrial sector.
It is evident that burden of meeting the energy needs of group 1 has been carried out not by the government but by the rural people themselves led by the women to secure the sustenance and the livelihoods of the rural people for which government has not shown any appreciation or any interest. The mundane fact is that 191.4 PJ of energy amounting to 46.2% of the energy mix has never been the concern of the energy sector planning. What matters should not be the type of the energy source or fuel but the energy service provided which are the heat, light, mechanical and digital energy requirements.
While the energy sector should be congratulated for achieving 100% electrification in Sri Lanka which is a remarkable achievement, the present portfolios of Ministries in the energy sector focus only on Petroleum, Power and Renewable Energy Solar, Wind and Hydro Power Generation Projects Development . The major source of noncommercial biomass is overlooked . It is also observed that the term energy has been violated by identifying petroleum under the ministry of energy which is a misnomer which can create contradictions in policy matters as the term energy is used to encompass all energy resources.
The energy sector has incurred Rs 699 billion in foreign exchange almost 32% of the export earnings and an enormous expenditure to maintain a strong organizational infrastructure to cater for the commercial energy needs while neglecting the non commercial energy needs of the rural and estate poor.
This trend of depending on biomass has prevailed through out the last four decades and considering the present inequality in income distribution, it is likely to continue since affordability of modern fuels for the poor will not be a reality in the near future. This is evident from the fact that 30% of poorest get nine percent, the middle 40% get 29% and the richest 30% get 62% of the government income(Central Bank 2017 data) . A World Bank study states, at today’s prices that world LPG prices, regular users of LPG would likely need monthly household income in excess of US$350 and require at least 15 USD/month.
The Role of Liquefied Petroleum Gas in Reducing Energy https://openknowledge.worldbank.org › )
Nevertheless, presently there is a lack of focus on biomass energy by the government particularly due to the need for heavy focus on modern fuels for development of the country In contrast the important role played by biomass energy for the subsistence and economic development in the rural sector is not visible due to the decentralized and noncommercial nature of uncoordinated informal activities consisting of large number of stakeholders in the non-energy sector with a multitude of objectives not directly related to energy per se. Biomass energy is really not produced by the energy sector but a by product of activities carried out by the forestry, agriculture and plantation sectors which is not their main objective thus making biomass no one’s baby.
It is observed that this complication of uncoordinated, informal relationships and lack of insensitivity of the government which have contributed towards lack of governance within the energy sector in Sri Lanka have further isolated the low income rural sector to find their own solutions for survival. Non-cognizance on low-cost, improved biomass solutions has led to a scenario where biomass energy is negatively perceived with detrimental effects on sustainable development. It is totally unwelcoming to see that there is no appropriate mechanism devoted to the management of indigenous energy resources which still serves as the energy backbone of Sri Lanka.
The negative image of biomass, tends to be associated with deforestation, climate change under-development, poverty and negative health effects. This image steers policy makers towards the replacement of biomass by other fuels, instead of improving sustainability of the sector with integrated and holistic approaches.
In spite of the focus on alternatives, it is unlikely that biomass use will decrease in absolute terms over the coming decades. There is no evidence to show that firewood use is contributory factor to deforestation. Main four reasons for deforestation in Sri Lanka are encroachments due to agriculture, gem mining and settlements, infrastructure development projects, commercial agriculture ventures and several localized drivers like cattle grazing, cardamom cultivation and forest fires. (Kariyawasam, Ravindra, and Chinthka Rajapakse).
However, despite of the fact that, firewood is underestimated and ridiculed as a primitive fuel, the use of firewood by a majority of the population of Sri Lanka has not deprived but contributed towards the wellbeing of Sri Lanka in achieving many development indicators in moderation compared to many middle income countries. For an example according to world rankings, Sri Lanka’s rankings are Human Development Index 71, health 48, social capital 33, prosperity 84 and education 62. Moreover, a female born in Sri Lanka can expect to live 80.1 years (despite using firewood for cooking ) as oppose to 79 years in America). Infant Deaths/1000 in Sri Lanka is six, where it is six in America and 27 in India .
In the name of good governance and justice it is high time that the Ministry of Power and Renewable Energy (Sustainable Energy Authority) take action to avoid a looming disaster in the near future due to the informal nature of biomass supply and use of biomass is allowed to continue without inputs from the government which not only create social instability also hamper the efforts of achieving sustainable development goals.
The scope for the government is to facilitate the availability of supply, provide low cost technology support for efficient use by improving access to ventilation and efficient use through improved stoves and mitigate negative impacts on health and climate as alleged by the international community. Nearly eight million tons of firewood is required annually for cooking and livelihoods and four million tons of firewood for the industrial sector. Each house would require nearly two tons/year. Meeting this target would require the coordination and integration of the various stakeholder activities already providing informal facilitation in unofficial ways.
Although negative perceptions of biomass energy are widespread, biomass is not necessarily an unsustainable or backward fuel. Sustainability depends on the practices applied in the value chain; for example forest management techniques and the efficiency of conversion and use. These commonly held misconceptions tend to associate biomass fuels with deforestation, indoor air pollution and underdevelopment.(European Union Energy Initiative and GIZ, Germany ). http://www.euei-pdf.org/fr/node/3880.
In the name of governance in the energy sector in Sri Lanka, the objective of this article is to request the Sustainable Energy Authority which has been given the mandate to promote renewable energy (not only commercial energy) to take the leadership and initiative to invite the relevant stakeholders, donors, NGOs for a consultative meeting with a view to identify stakeholders and cross cutting activities, linkages and capacity and make aware the importance of rural sustainable energy interventions which needs the formation of a network of organizations to be established under the local government ministry facilitated by the sustainable energy authority comprising of specially dedicated staff to biomass energy development.
R.M.Amerasekera. Eng
Executive Director, Integrated Development Association (IDEA)
Energy Advisor to Former Minister of Local Government Admiral Sarath Weerasekara
Project Manager, National Fuel Wood Conservation Programme
Electrical Engineer (Alternative Energy Development Unit, CEB)
Retired Director, Sustainable Energy Authority
Short term Consultant to the UNDP(Sudan), World Bank and FAO
Recipient of First Ever Sri Lanka Energy Efficiency Award(2015), Awarded by HE the President
for bringing sustainable energy solutions to people
Recipient of Mohan Munasingha Award (1985) for Energy Conservation Efforts
Nominee for World Clean Energy Award(2007)
Business
Stealer malware leaked over 2 million bank cards

Kaspersky Digital Footprint Intelligence estimates that 2.3 million bank cards were leaked on the dark web, based on an analysis of data-stealing malware log files from 2023-2024. On average, every 14th infostealer infection results in stolen credit card information, with nearly 26 million devices compromised by infostealers, including more than 9 million in 2024 alone. Kaspersky released its report on the infostealer threat landscape while the technology world gathers at MWC 2025 in Barcelona.
Kaspersky experts estimate that approximately 2,300,000 bank cards have been leaked on the dark web. This conclusion is based on an analysis of the log files from data-stealing malware, dated 2023-2024, that were leaked on the dark web market. While globally the share of leaked cards is well below one percent, 95% of the observed numbers appear technically valid.
Infostealer malware is not only designed to extract financial information, but also credentials, cookies and other valuable user data, which is compiled into log files and then distributed within the dark web underground community. An infostealer can infect a device if a victim unknowingly downloads and runs a malicious file, for example one disguised as legitimate software, such as a game cheat. It can be spread through phishing links, compromised websites, malicious attachments in emails or messengers and various other methods. It targets both personal and corporate devices.
On average, every 14th infostealer infection results in stolen credit card information. Kaspersky Digital Footprint Intelligence experts found that nearly 26 million devices running Windows were infected with various types of infostealers in the past two years.
“The actual number of infected devices is even higher. Cybercriminals often leak stolen data in the form of log files months or even years after the initial infection, and compromised credentials and other information continue to surface on the dark web over time. Therefore, the more time passes, the more infections from previous years we observe. We forecast the total number of devices infected with infostealer malware in 2024 to be between 20 million and 25 million, while for 2023, the estimate ranges between 18 million and 22 million,” says Sergey Shcherbel, expert at Kaspersky Digital Footprint Intelligence.
In 2024, Redline remained the most widespread infostealer, accounting for 34% of the total number of infections.
The most significant surge in 2024 was in infections caused by Risepro, whose share of total infections increased from 1.4% in 2023 to almost 23% in 2024. “RisePro is a growing threat. It was first discovered two years ago but seems to be gaining momentum. The stealer primarily targets banking card details, passwords and cryptocurrency wallet data, and may be spreading under the guise of key generators, cracks for various software and game mods,” explains Sergey Shcherbel. Another rapidly growing stealer is Stealc, which first appeared in 2023 and increased its share from nearly 3% to 13%.
Business
ComBank’s 2023 Annual Report tops Banking sector at ACCA Sustainability Reporting Awards

The Commercial Bank of Ceylon’s prowess in comprehensive disclosure of sustainability-related information to stakeholders has won its 2023 Annual Report two top awards at the 2025 Sustainability Reporting Awards presented by the Association of Chartered Certified Accountants (ACCA).
The Bank was adjudged the overall runner-up and the winner in the Banking category at these awards, repeating the achievement of its 2022 Annual Report which was similarly honoured by the ACCA last year.
The ACCA Sustainability Reporting Awards recognise Annual Reports that clearly acknowledge and explain the economic, environmental and social impacts of the business to internal and external stakeholders, demonstrating the organisation’s policies, targets and long-term objectives towards the goal of sustainable development.
Commercial Bank’s 2023 Annual Report also won two Golds, a Silver and a Bronze at CA Sri Lanka’s ‘TAGS’ Awards 2024, excelling in the key aspects recognised by the awards programme which is dedicated to Transparency, Accountability, Governance, and Sustainability – TAGS.
The Bank won the Gold for ‘Corporate Governance Disclosure’ in the Financial Services sector, the Gold for the Best Annual Report among the private sector banks, the Silver for ‘Digitally Transformative Reporting’ across all sectors, and the overall Bronze award for Excellence in Corporate Reporting.
Business
UTE Delivers Sri Lanka’s Largest Cat D8 Tractor to NEM Construction

Caterpillar equipment dealer UTE has delivered the country’s largest Cat D8 Track-Type Tractor to NEM Construction Pvt. Ltd., marking a significant milestone in heavy machinery. This delivery strengthens the long-standing partnership between UTE and NEM Construction, which spans over 45 years. The Cat D8 is expected to boost operational efficiency in large-scale projects. As the sole authorized dealer for Caterpillar in Sri Lanka, UTE continues to provide top-tier machinery and after-sales support. The handover is particularly notable as Caterpillar celebrates its 100th anniversary. NEM Construction’s Chairman, Raja Nanayakkara, praised the Cat D8’s superior performance and UTE’s unmatched service and parts support, which have been key to the company’s long-term collaboration. This purchase highlights the continued trust in both Caterpillar and UTE’s expertise in supporting Sri Lanka’s construction industry.
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