Business
‘Increasing number of Lankan women unaware of job openings in tourism’
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By Ifham Nizam
More women reported that they were not aware of job opportunities in the tourism sector, a study conducted by Australia’s Market Development Facility (MDF) in collaboration with the Sri Lanka Tourism Alliance (SLTA) reveals.
According to the study, 44% of the 453 respondents said a male member of the family, father or spouse, has a primary influence on employment choices. However, 31% stated that significant external influence didn’t affect their ability to make independent employment decisions.The SLTA, together with MDF, hosted a forum titled, ‘Women in Tourism: Advocate, Engage, Achieve’, recently at the Blue, Hilton Colombo, with tourism industry leaders on co-creating solutions to increase women’s participation in the tourism industry.
Speaking at the occasion, Tourism Alliance, Chair Malik J Fernando stressed: ‘We believe that by harnessing the insights from this research, we can drive meaningful progress towards achieving gender parity while embracing diversity and inclusion within the tourism sector.’
Fernando added; ‘Through collaborations and collective action, we aim to create a more equitable industry that benefits businesses, employees and society at large.
‘The global ratio in women’s participation in the tourism sector is around 40% and in Europe even more. In Sri Lanka it’s less than 9 per cent.’
MDF’s Research’s, Impact Measurement and Inclusion Coordinator, Isuri Munasinghe told The Island Financial Review that Sri Lanka’s tourism sector faces a significant labour shortage due to migration and shifts to other industries for job security. Recognizing that women make up only 10% of total employment within the sector, MDF sought to delve deeper into uncovering not only the causes but also the missed opportunities within the labour force.
Munasinghe added: ‘Our aim was to present these findings to the broader industry and collaborate with them to develop scalable solutions.
‘While factors, such as, stigma, long working hours and poor work-life balance are commonly cited as deterrents for women entering the tourism workforce, through the conduct of scientific research we could confirm if these were indeed the primary causes.
‘We engaged with women both within and outside the industry to gain insight into the real issues that either attract or discourage them from pursuing careers in tourism.
‘Our study revealed that while stigma surrounding women in the industry is widespread, it is the lack of awareness about available job opportunities and career paths that truly dissuades women from considering tourism as a viable employment option. Additionally, we found regional variations in the perceived level of stigma associated with women working in tourism, with women from certain regions, such as, Uva, North Western, and Central Provinces, showing more interest in joining the industry compared to those from the Western and Southern Provinces.
‘Furthermore, our research highlighted the enduring preference for word-of-mouth as the primary method for women to seek job opportunities. This underscores the importance of enhancing employee satisfaction and retention to attract greater women participation in tourism.
‘MDF is pleased that our findings have resonated positively with the industry and we eagerly anticipate collaborating with businesses to invest in scalable solutions.
‘In terms of the next steps, MDF is looking forward to collaborating with the private sector to increase women’s participation in Sri Lanka to address the underlying issues.’
Chief People Officer, Dialog Axiata PLC Chandi Dharmaratne, said that in the ICT sector the ratio is better and one could even see nearly 49% of the females working in the BPO sector and around 35% in the ICT sector. “However we need to see more middle level female employees in the ICT sector, she said.
Managing Director, Jetwing Travels, Shiromal Cooray, said that there are hardly any female tour guides in Sri Lanka, mainly because they cannot move away and come back home when there is a long tour that stretches for around 7 to 14 days. She also said that there was a cultural stigma but thankfully this is now reducing.
Dr. Paul Zeccola, First Secretary (Political and Economic) of the Australian High Commission in Sri Lanka, was the Guest of Honour. Delivering the keynote address, he highlighted that Australia is proud to be a part of the recovery of the tourism sector that holds much potential for investment and the growth of Sri Lanka. He added that the longstanding partnership between Australia and Sri Lanka is to build inclusive business models that strengthen women’s economic participation.
The event also featured a panel discussion which examined challenges and solutions for integrating more women into the industry, followed by an interactive question and answer session. The panel comprised Shiromal Cooray, Managing Director, Jetwing Travels, Manesh Fernando, General Manager, Hilton Colombo, Chandi Dharmaratne, Chief People Officer, Dialog Axiata PLC and Mathi Thayanan, Tourism Country Team Coordinator, MDF Sri Lanka. The forum was facilitated by Dinushka Chandrasena.
The industry-leading panel shed light on some of the most pressing issues faced by the industry, followed by suggested strategies for fostering an inclusive workplace that unlocks the full potential of the diverse talent available in Sri Lanka.
MDF Sri Lanka Country Director Maryam Piracha further added that, “MDF is committed to strengthening partnerships that champion women’s engagement in the tourism sector. We aim to work with the private sector to encourage inclusive practices that combat negative perceptions and provide new opportunities for women. MDF is confident that this initiative will encourage the industry to embrace inclusive business strategies, enhancing business competitiveness while creating new avenues for women’s advancement.”
Business
CEB urged to revise Draft Long Term Generation Expansion Plan, in view of renewable energy needs
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By Ifham Nizam
The Public Utilities Commission of Sri Lanka (PUCSL) has instructed the Ceylon Electricity Board (CEB) to revise its Draft Long-Term Generation Expansion Plan (LTGEP) 2025-2044, incorporating more robust projections for renewable energy and battery storage, while also reassessing LNG infrastructure and procurement strategies.
The Island Financial Review reliably learns PUCSL Director General Damitha Kumarasinghe emphasized the need for “more robust and realistic cost assumptions for Renewable Technologies and Battery Energy Storage Systems (BESS).”
The Commission stressed that BESS should be valued not just as a renewable integration tool but also for its potential to mitigate power shortages.
The directive also calls for revisions in LNG infrastructure planning, including “a comprehensive analysis covering LNG fuel cost calculation, infrastructure development, procurement contracting options, and risks associated with supply and procurement.” PUCSL has specifically highlighted the importance of evaluating the financial and economic feasibility of a natural gas pipeline from Kerawalapitiya to Kelanitissa.
Kanchana Siriwardena, Deputy Director General – Industry Services, reinforced the Commission’s stance on renewable energy, stating that “further reductions in renewable energy curtailment should be explored by incorporating more BESS.”
The PUCSL’s instructions also mandate incorporating clauses from the Memorandum of Understanding (MoU) with Petronet India, which includes a temporary LNG supply for the Sobadhanavi Plant. The revised LTGEP must also factor in infrastructure costs related to the Floating Storage Regasification Unit (FSRU) and pipeline networks as part of the overall LNG cost calculation.
The CEB is expected to resubmit the revised plan for PUCSL’s approval, ensuring alignment with Sri Lanka’s long-term energy security and sustainability goals.
The PUCSL directive also calls for a comprehensive evaluation of various LNG procurement options and associated risks. These include:
LNG infrastructure development and expansion
Contracting options for LNG procurement
Risks related to LNG supply and procurement stability
Robustness of natural gas demand calculations
Economic feasibility of the proposed natural gas pipeline from Kerawalapitiya to Kelanitissa, given the low plant factors of power stations at Kelanitissa.
Business
Nations Trust Bank ends 2024 with strong performance, achieving 24% ROE
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Nations Trust Bank PLC reported strong financial results for the twelve months ending 31st December 2024, achieving a Profit After Tax (PAT) of LKR 17 Bn, up 46% YoY.
Nations Trust Bank, Director & Chief Executive Officer, Hemantha Gunetilleke, stated, “The Bank’s performance for the twelve months ending 31st December 2024 showcases our continued growth and expansion across diverse customer segments. Our solid capital position, strong liquidity buffers, effective risk management frameworks, and steadfast commitment to service excellence and digital empowerment remain the key drivers of our success.”
Improvements in the macro-economic environment and successful management of the Bank’s credit portfolio resulted in total impairment charges decreasing by 69% and the Net Stage 3 ratio reducing to 1.6%.
The Bank’s financial performance is supported by its strong capital buffers, with Tier I Capital at 21.47% and a Total Capital Adequacy Ratio of 22.66%, well above the regulatory requirements of 8.5% and 12.5%, respectively.
A strong liquidity buffer was maintained with a Liquidity Coverage Ratio of 320.56% against the regulatory requirement of 100%.
The Bank reported a Return on Equity (ROE) of 24.22%, while its Earnings Per Share for the twelve months ending 31st December 2024 increased to LKR 50.82, against LKR 34.70 recorded during the same period last year.
Nations Trust Bank PLC serves a diverse range of customers across Consumer, Commercial and Corporate segments through multi-channel customer touch points spanning both physical and digital. The Bank is focused on digital empowerment through cutting-edge digital banking technologies, and pioneered FriMi, Sri Lanka’s leading digital banking experience. Nations Trust Bank PLC is an issuer and sole acquirer of American Express Cards in Sri Lanka with market leadership in the premium segments.
Business
Modern Challenges and Opportunities for the Apparel Industry: JAAF drives industry dialogue
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The Joint Apparel Association Forum (JAAF), in collaboration with Monash Business School and the Postgraduate Institute of Management (PIM) successfully hosted the International Conference on the Apparel Industry 2025 recently in Colombo. This was the second time the event was held, following its inaugural edition in 2018, as part of JAAF’s commitment to fostering dialogue and collaboration within the global apparel sector.
Themed “Modern Challenges and Opportunities for the Apparel Industry”, the three-day event brought together industry leaders, academics, and sustainability experts to discuss pressing issues such as ESG (Environmental, Social, and Governance) compliance, circular economy strategies, technological advancements, and workforce transformation.
A key highlight of the event was the panel discussion on “Current Actions and Their Impact on ESG-Related Outcomes in the Apparel Industry,” featuring:
Felix A. Fernando – CEO, Omega Line Ltd.
Nemanthie Kooragamage – Director Group Sustainable Business, MAS Holdings
Gayan Ranasinghe – Control Union,
Chamindry Saparamadu – Director General/CEO, Sustainable Development Council
Pyumi Sumanasekara – Principal Partner, KPMG Sri Lanka
Discussions emphasized how Sri Lanka’s apparel industry is adapting to global ESG standards, incorporating sustainable production methods, and aligning with evolving regulatory frameworks.
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