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Export Development Council of Ministers [EDCM] resumes operations after 28 Years

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In line with the new government’s policy of “A Thriving Nation- A Beautiful Life,” President Anura Kumara Disanayake directed officials to take the necessary steps to increase export revenue to $36 billion by 2030.

The President expressed these views during the meeting of the Export Development Council of Ministers (EDCM), held on Monday (27) at the Presidential Secretariat.

Export revenue, which stood at USD 16.1 billion in 2024, is expected to rise to USD 18.2 billion this year, with a long-term goal of reaching USD 36 billion by 2030 through a comprehensive action plan.

The discussions emphasized the importance of strengthening domestic production and transitioning to an export-driven economy. Participants also highlighted the need to leverage Sri Lanka’s strategic location, human resources, and natural assets to develop a sustainable industrial growth plan.

This focused on revitalizing struggling domestic manufacturing industries, enhancing the competitiveness of export sectors, promoting the services industry, and capturing global markets through innovative strategies. Additionally, attention was drawn to attracting Foreign Direct Investment under a national framework, creating a conducive environment for new investments, reducing production costs, and ensuring the availability of essential infrastructure and resources.

Key decisions and discussions at the meeting included:

A decision was made to establish a VAT refund system at the airport for goods purchased by tourists.

To address delays and inefficiencies in the inspection of export products, plans have been made to replace the manual system with an automated scanning system that complies with international standards. This system will be installed at the Katunayake airport, with funding allocated by the Ministry of Industries.

It was also decided to permit the “inspection of railway engines” manufactured in Sri Lanka, which had previously posed a barrier to exports, to be conducted within the country.

It was decided to introduce renewable energy sources to reduce costs within the export industry and to launch a program to encourage exporters to adopt modern technology, enhancing cost efficiency while conserving electricity.

It was decided to provide funding from the CESS fund to implement programs focused on entrepreneurs and investors to achieve export targets.

Investment Facilitation Committee was established to facilitate investment in the export sector by providing investment support for both domestic and foreign investments.

It was decided to provide export incentives for the export of gems and jewellery by identifying the correct export value through an appropriate method.

The government has focused on the export of electronic equipment and devices manufactured locally, and discussions were held regarding providing customs duty concessions on raw material imports for this purpose.

Special attention was given to the digitalization of data systems related to the export industry in the implementation of the above decisions.

There was also a focus on increasing the bank guarantee limits for incentivizing service exports.

The meeting also addressed challenges currently facing the export sector and potential solutions. Issues related to the inspection of apparel exports were highlighted, and resolutions were formulated with the consensus of all stakeholders.

The EDMC, established on September 11, 1980, has met sporadically over the years. However, it had not convened between 1992 and 2020, and even in 2020, no significant decisions were implemented. This meeting in 2025 marks the resumption of the committee’s activities after a gap of 28 years, making it a notable milestone.

The committee comprises representatives from various ministries, including Trade, Shipping, Plantations, Agriculture, Industry, Textiles, Fisheries, Finance, Foreign Affairs, Supply Chain, and Rural Development. Its primary objective is to enhance Sri Lanka’s global competitiveness by formulating and implementing national export development policies and programs.

Notable attendees at the meeting included Minister of Industry and Entrepreneurship Development Sunil Handunnetti, Minister of Transport, Highways, Ports, and Civil Aviation Bimal Rathnayake, Minister of Plantation and Community Infrastructure Samantha Vidyarathne, Minister of Trade, Commerce, Food Security and Co-operative Development Wasantha Samarasinghe, Minister of Rural Development, Social Security, and Community Empowerment Dr. Upali Pannilage, Chairman of the Sri Lanka Export Development Board (EDB) Mangala Wijesinghe, Secretaries of relevant ministries and a group of state officials.



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Cyber heist at External Resources Dept: Funds diverted in email hack, CID probe underway

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Deputy Finance Minister Dr. Anil Jayantha Fernando

A suspected cyber fraud targeting Sri Lanka’s Department of External Resources has triggered a high-level investigation after hackers allegedly manipulated official email communications to divert funds to unauthorised overseas accounts, Deputy Finance Minister Dr. Anil Jayantha Fernando said.

The sophisticated breach is believed to have involved the interception and alteration of email exchanges between the Department and Export Finance Australia, raising serious concerns over vulnerabilities in the Government’s digital financial communication systems.

According to the Deputy Minister, the fraud came to light following suspicious changes detected in bank account details linked to a payment transaction involving India. This anomaly prompted officials to scrutinise prior correspondence, eventually uncovering what appears to be a coordinated cyber intrusion designed to reroute funds.

“This was not a routine technical glitch. There is clear indication of external interference where communication trails have been tampered with,” Jayantha said, noting that complaints had already been lodged with law enforcement authorities.

“Investigations are now being handled by the Criminal Investigation Department (CID), which is probing the extent of the breach, the financial losses incurred, and the possible involvement of international cybercrime networks”.

Financial analysts warn that the incident underscores growing risks faced by state institutions engaged in cross-border financing arrangements, particularly when relying heavily on unsecured or inadequately protected communication channels.

The Department of External Resources plays a pivotal role in managing Sri Lanka’s foreign-funded projects and liaising with international lenders and export credit agencies. Any compromise in its communication systems could have far-reaching implications for investor confidence and the country’s financial credibility.

Authorities are expected to review existing cybersecurity protocols across key financial institutions in the wake of the breach, with calls mounting for tighter safeguards, encrypted communications, and multi-layer verification systems for fund transfers.

Meanwhile, officials remained tight-lipped on the exact quantum of funds involved, citing the ongoing nature of the investigation. However, sources indicated that the attempted diversion was significant enough to raise alarm at the highest levels of the Finance Ministry.

The incident adds to a growing list of cyber-related financial threats confronting governments worldwide, highlighting the urgent need for robust digital governance frameworks as Sri Lanka continues to engage with international financial partners.

By Ifham Nizam

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Sun Siyam Pasikudah marks the New Year at the shore of Sri Lanka’s rising coast

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There is something about Avurudu that naturally fills every corner of Sri Lanka with energy and connection, and this year, that spirit extended to the shores of Pasikudah. At Sun Siyam Pasikudah, part of the Prive Collection within The House of Siyam, the Sinhala and Tamil New Year was celebrated on 14 April with a vibrant, full day programme that brought together guests and team members in true festive spirit, warm, lively, and centred around shared traditions and generous feasts.

The day followed the rhythm that Sri Lankan families know well. At the auspicious hour determined by the almanac for the New Year, the hearth at The Kitchen was ceremonially lit and the milk pot set to boil, symbolising warmth, unity, and the drawing in of abundance for the year ahead. This followed another auspicious moment at noon where a Traditional Sweet Table was laid out, where kiribath, kokis, kavum, aasmi and more were on offer, prepared by the resort’s culinary team and enjoyed by guests who had gathered, some for whom this was the most natural thing in the world, and others encountering the tradition for the very first time.

From 3:00 PM onwards, the afternoon opened into games. The resort grounds hosted the full run of Avurudu classics: Kana Muttiya (Pot Breaking), Kaba Adeema (Tug of War), Banis Kama (Bun Eating Contest), Balum Pipirawima (Balloon Blowing), Kotta Pora (Pillow Fighting), the Sack Race, Spoon Race, Blindfold Yogurt Feeding, Eyeing the Elephant, and Finding the Coin on the Plate. Guests of all ages joined in, and the kind of laughter that filled the afternoon is really the only way to describe what Avurudu at its best feels like.

“Avurudu is one of those occasions where the feeling in the air does all the work. The auspicious timings, the lighting of the hearth, the sweet table, the games in the afternoon: each of these carries its own meaning, and when you observe them properly and together, the day takes on a quality that is hard to replicate at any other time of year. We wanted our guests, wherever they had travelled from, to feel genuinely part of that, not simply watching from the outside. I think the day showed that Pasikudah is a place where that kind of celebration feels entirely at home,” said Arshed Refai, General Manager, Sun Siyam Pasikudah

The celebration is also a reflection of a broader moment for this stretch of the Sri Lankan coast. Pasikudah has long been known among those who seek it out: a bay of extraordinary calm and clarity, unhurried in a way that the island’s busier coastal destinations rarely are. What has shifted in recent years is that more people are finding it. Sri Lanka welcomed over 600,000 international visitors in the first quarter of 2025, generating tourism revenue of USD 1.025 billion, and the East Coast is increasingly part of that conversation. Sun Siyam Pasikudah has been central to placing Pasikudah on that map.

The resort’s 34 pavilions, offered in one and two bedroom configurations across garden and beach settings, are styled in a way that is quietly striking: monochrome interiors with warm golden accents, spacious and well-considered, always with the ocean close by. Dining is spread across The Kitchen, The Cellar, The Slice and Grill, The Tea House, and The Bar, with destination dinners available for guests who want a private evening under the stars. Sailing excursions along the coastline, spa and wellness, and encounters with local arts and crafts complete what Sun Siyam Pasikudah offers throughout the year.

 

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Allianz Avurudu Negam returns, easing the journey home

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During the Sinhala and Tamil New Year, a time defined by togetherness, tradition and returning home, Allianz Insurance Lanka Limited once again stood alongside Sri Lankan communities by continuing its Avurudu Negam initiative for the second consecutive year, expanding its reach to support families during the festive travel period.

Building on the positive response to last year’s programme, Allianz Avurudu Negam 2026 was shaped to make the journey home special and loved during Avurudu. In response, Allianz offered ticket refunds to eligible passengers travelling on the Galu Kumari service from Maradana, supporting passengers journeying home to celebrate the New Year with loved ones.

Passengers boarding from Maradana and Fort and travelling beyond Galle up to Belliatta were eligible for the refund, helping make the journey home more affordable at a meaningful time of year. Acknowledging that financial strain frequently continues even after the celebrations conclude, Allianz extended the refund window until 30th April, easing the cost of returning to Colombo after Avurudu.

To complement this support, Allianz added a heartfelt touch rooted in New Year tradition. Traditional oil cakes were distributed to passengers boarding from Maradana, allowing families to take a familiar symbol of Avurudu back home and share it around their festive tables.

Allianz also prioritised protection during this period. Passengers eligible for the refund were given the option to obtain free Allianz Personal Accident Insurance, reflecting the belief that protection does not end with a journey, but continues wherever people go. In addition, these passengers were included in an LKR 1 million raffle draw, as an extension of the existing campaign, offering one winner shopping vouchers redeemable at outlets of their choice and support that extends beyond the New Year season.

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