Business
IPS advocates stricter regulations for Alcohol Control in Sri Lanka at the “Policy Dialogue on Alcohol Control for a Healthier Sri Lanka”
Recent statistics paint a stark picture of alcohol-related challenges facing Sri Lanka, with an alarming 83% of deaths attributed to non-communicable diseases (NCDs). Alcohol consumption emerges as a prominent risk factor for NCDs, exacerbating health costs and contributing to issues such as road accidents and domestic violence. Despite its perceived economic benefits, the economic toll of alcohol-related conditions surpasses any revenue generated. The World Health Organization (WHO) estimates that in 2015 alone, the economic cost of alcohol-related conditions amounted to a staggering USD 885.86 million, equivalent to 1.07% of Sri Lanka’s GDP for that year.
In light of these pressing concerns, the Institute of Policy Studies of Sri Lanka (IPS) recently hosted a “Policy Dialogue on Alcohol Control for a Healthier Sri Lanka”, at the Saman Kelegama Memorial Auditorium, IPS. The event aimed to advocate for evidence-based alcohol control policies, drawing from findings of the IPS’ “RESET Alcohol Initiative” programme, funded by RESET Alcohol – A Global Alcohol Policy Initiative which delves into critical aspects of alcohol policy, including pricing, taxation, and the broader political economy dynamics at play.
Dr Nisha Arunatilake, Director of Research at IPS, and Pubudu Sumansekara, Consultant for the Sri Lanka RESET Alcohol Initiative, explained the RESET Alcohol Initiative, which aims to change the disconnect between the public perception of alcohol as a social necessity, and its grave health consequences.
In his keynote speech, Dr Alan Ludovyke, Chairman of the National Alcohol and Tobacco Authority highlighted the health costs of alcohol consumption and the disproportionate burden of alcohol-related violence and health issues on vulnerable communities. He stressed the imperative for collaborative efforts among the Government, think tanks, media, and civil society to address these challenges.
The dialogue featured three insightful panel discussions moderated by Dr Nisha Arunatilake, Dr Sajeeva Ranaweera, from the Sri Lanka Medical Association (SLMA) – Expert Committee on Tobacco and Illicit Drugs and Dr Alan Ludovyke, focusing on key aspects of alcohol policy, including price sensitivity of alcohol, revenue implications, and power dynamics of alcohol control. IPS Research Economist Ms Priyanka Jayawardena presented compelling evidence of the economic burden imposed by NCDs, where households spend 10% of their monthly budget on alcohol. She presented evidence that supports alcohol taxation as a cost-effective measure to reduce NCD risk factors, particularly among low-income groups. The progressive nature of alcohol taxation, where higher-income groups bear more tax burden, was underscored as a means to positively influence household economic and health benefits.
IPS Research Fellow Dr Lakmini Fernando highlighted the potential of increased excise duty rates to reduce alcohol consumption while generating government revenue, contributing to economic recovery. Challenges related to data availability for accurate modelling were acknowledged, emphasising the need for quality disaggregated data for informed policy decisions. Recommendations from the panel highlighted the importance of designing a medium-term alcohol tax policy that considers both revenue generation and health impacts, ensuring a balanced approach to alcohol control. IPS Research Economist Ms Sunimalee Madurawala discussed the intricate dynamics of industry interference in alcohol policy and proposed strategies to mitigate its adverse effects on public health.
The policy dialogue, which saw the participation of key stakeholders, including government officials, medical professionals, and civil society representatives underscored the critical need for evidence-based, collaborative approaches to alcohol control in Sri Lanka, balancing health objectives with economic considerations and addressing industry influences effectively.
Business
Ceylon Chamber Re-elects Chairperson Krishan Balendra at 187th AGM
The Ceylon Chamber of Commerce announced the re-election of Chairperson Krishan Balendra and the election of its Board for the Year 2026/27 at the Chamber’s 187 th Annual General Meeting on June 25. High Commissioner of Britain to Sri Lanka, Andrew Patrick, attended as Chief Guest.
The 2026/27 office-bearers are Chairperson Krishan Balendra, – Chairperson John Keells Holdings PLC, Vice Chairperson Bingumal Thewarathanthri – CEO, Standard Chartered Bank Sri Lanka, and Deputy Vice-Chairperson Vinod Hirdaramani – Chairman, Hirdaramani Group.
Jayanthi Dharmasena – Managing Director, Hayleys Agriculture Holdings Ltd., Kasturi Chellaraja Wilson – Chief Operating Officer, Head of APAC – 5Hour International Corporation Singapore, Shibani Thambiayah – Managing Director, Renuka Hotels PLC,Supun Weerasinghe – Director/Group CEO – Dialog Axiata PLC, and Shiran Fernando – Secretary-General and CEO will serve as Board Members. Rohana Dissanayake – Group Chairman and Managing Director of David Pieris Motor Company Pvt. Ltd. will also join the Board, replacing Bernhard Stefan – Managing Director – Nestlé Lanka PLC, who relocated overseas.
In his remarks, Balendra noted that over the past year, the Chamber adopted a more solutions-oriented approach to advocacy, focusing not only on identifying challenges but also on developing constructive recommendations in collaboration with government, industry stakeholders, and development partners, with this approach yielding stronger results. “Through our engagement in the Budget 2026 process, eighteen recommendations proposed by the Chamber were incorporated into the national budget, covering areas such as trade facilitation, investment promotion, digitalisation, infrastructure, and improving the ease of doing business.
This builds upon the strong momentum established in previous years and demonstrates the value of evidence-based, constructive engagement.
The Chamber also contributed to addressing emerging global trade challenges, including tariff-related issues affecting Sri Lankan exports. By representing private sector perspectives in Presidential Committees, we supported efforts to safeguard export competitiveness and strengthen trade resilience.”
Beyond advocacy, it significantly expanded its engagement footprint, strengthening bilateral partnerships across more than twenty countries, and supporting more than 1,800 SMEs through training, advisory services, and market access initiatives.
He added that over the next year, the Ceylon Chamber is committed to deepening engagement with members, strengthening global partnerships, enhancing support for SMEs, and accelerating efforts to promote exports and attract investment, and is committed to working with the Government and stakeholders to ensure a resilient and prosperous Sri Lanka.
Business
Kandy’s singing couple striking a harmonious chord
In the hill capital of Kandy, a husband-and-wife duo has won the admiration of music lovers with their shared passion for singing and their dedication to the art.
Vijitha Kingsley Bandara and Umesha Kalhari Navaratne have become familiar voices among audiences in Kandy, entertaining crowds with their musical talents while building a reputation as a versatile singing couple.
Kingsley began his musical journey at the age of 17, performing at outdoor musical shows before gaining opportunities to showcase his talent at several hotels in the Kandy area. His performances for local and foreign tourists further enhanced his reputation as a singer. He later took his musical talents overseas, entertaining audiences in several countries.
For the past 12 years, Kingsley has been engaged in singing at establishments operated by the Devon Group and The Grand Kandyan Hotel in Kandy, following an opportunity extended by Group Chairman Gamini Weeraratne.
Supporting him both in life and music, Umesha has also established herself as a singer, performing at Devon establishments. She also runs a home-based cake-making venture.
The couple, who continue to receive appreciation from music enthusiasts, said they are ready to accept invitations to perform at musical events across the country. They can be contacted on 071-1519130.
Text and Pic by SK Samaranayake
Business
ComBank unveils GIG+ for Lanka’s digital workforce
Recognising the rapid emergence of the gig economy in Sri Lanka, the Commercial Bank of Ceylon has introduced ‘ComBank GIG+’ – a specialised banking solution designed for freelancers, digital entrepreneurs, social media influencers, and individuals and businesses earning in foreign currency through overseas engagements to receive their foreign earnings, including PayPal-linked withdrawals, through a structured banking account.
ComBank GIG+ reflects a decisive shift in the country’s employment landscape, where a growing number of professionals are leveraging global digital platforms and remote work opportunities to build independent income streams. From freelance service providers operating on platforms such as Fiverr, Upwork and Freelancer.com, to content creators monetising audiences across YouTube, TikTok, Meta and X, this segment represents a dynamic and increasingly influential contributor to foreign exchange inflows.
ComBank GIG+ is tailored to meet the specific needs of these digital earners, offering account options in Sri Lanka Rupees as well as major foreign currencies including USD, EUR, GBP and AUD. The account is available to Sri Lankan citizens aged 18 and above residing in the country, as well as duly registered business entities, subject to verification of foreign currency income derived through recognised digital and remote work channels.
Commenting on the introduction of ComBank GIG+, Hasrath Munasinghe, Chief Operating Officer of Commercial Bank said: “The rise of independent digital earners represents a structural shift in how value is created and exported from Sri Lanka. With ComBank GIG+, we are establishing a banking framework that not only recognises this segment, but also integrates it more meaningfully into the formal financial system. This enables individuals and businesses operating beyond traditional employment models to build a verifiable financial track record, access formal financial services, scale their operations, and contribute more visibly to the country’s economic growth.”
The launch of ComBank GIG+ is particularly timely following Sri Lanka’s recent enablement of PayPal linked withdrawals, which has simplified the process of bringing overseas digital earnings into the country.
In addition to facilitating PayPal-linked withdrawals and foreign currency inflows, the Bank said the ComBank GIG+ account offers a range of value-added benefits including first-year fee waivers on credit cards and digital banking services, preferential foreign exchange rates for qualifying conversions into Sri Lanka Rupees, and the opportunity to establish a structured banking relationship that may support future access to financing and other financial solutions. These features are designed to enhance financial efficiency while supporting the day-to-day banking needs of digitally active customers.
By aligning its product innovation with evolving global work patterns, Commercial Bank continues to strengthen its position as a forward-looking, technology-driven institution. The introduction of ComBank GIG+ underscores the Bank’s commitment to supporting new economic segments, enhancing financial inclusion, and enabling Sri Lankan talent to participate more effectively in the global digital economy.
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