Business
JAAF calls on govt to set out apolitical Roadmap as a pragmatic call to action
Warns brands may move to alternate production locations Industry bracing for 20% reduction in orders, export earnings to take a hit
Amid rising apprehension of a global economic recession and resulting softening of international consumer demand, Sri Lanka’s Joint Apparel Association Forum (JAAF) reiterated its demand for systemic economic and political reforms to restore stability, and rebuild trust and confidence in the nation – locally and globally. Addressing the impact of the ongoing volatility on the sector, JAAF noted that Sri Lanka’s apparel sector had continued to display outstanding resilience by continuing to fulfil all existing orders and production schedules in the face of unprecedented adversity.However, at a time when global consumer sentiment is expected to weaken and many in the industry are bracing for a potential reduction in orders by as much as 20% in the next season’s orders (June to August), the association warned of serious negative consequences if policymakers continued to delay on the sweeping reforms needed to put Sri Lanka back on track. Accordingly, JAAF called on the government to immediately commence discussions with credible policy and industry experts towards rapid development of a practical, apolitical roadmap for Sri Lanka’s Economic Recovery.Secretary General of JAAF Yohan Lawrence stressed that the need of the hour is to ensure that Sri Lanka continues to maintain the confidence of its buyers by remaining resilient amidst the coming global economic crisis.
“For more than 30 years – including multiple global and regional economic downturns – the Sri Lankan apparel industry has built a reputation that reflects the highest levels of reliability, quality and sophisticated technical capabilities. Particularly in recent years, these efforts have been complemented with a truly visionary approach to innovation, sustainability and circularity in fashion.
“Owing to unprecedented national economic mismanagement, this sector, which has long served as a fundamental pillar to the Sri Lankan economy, is now under serious threat. Any plan for economic revival must prioritize support to apparel manufacturers large and small, and leverage this strength to help stabilize the Sri Lankan economy. We need sustainable, decisive solutions and we need them now,” Lawrence said.
Over the course of 2021, Sri Lanka’s apparel sector increased its earnings by 22.9% Year-on-Year (YoY) generating US$ 5.42 billion in export earnings, and accounting for almost half of all merchandise exports, in addition to providing gainful employment for a workforce of approximately 1 million (direct and indirect).
Moving forward, Lawrence noted that the apparel sector’s most urgent need was a stable energy supply to ensure operational continuity.
“Large Sri Lankan apparel manufacturers have been among the most effective adopters of renewable energy technology, particularly solar energy. Together with other optimizations in energy consumption, these proactive measures have mitigated some of the worst disruptions to production.
“There is also potential to build on these initiatives over the medium term. However, what can be done is limited if the government is unable to meet its obligations in terms of energy supply. Given the success of renewables, it is clear that the state-owned energy suppliers must also place re-emphasis on such sources” he noted.
In addition to economic reforms, JAAF also reiterated the demand from the Joint Chambers calling for the abolition of the 20th Amendment to the constitution as a first step to driving systemic reform of Sri Lanka’s political culture.
“All Sri Lankans, including those in positions of power today agree that the root of the nation’s economic woes are in its dysfunctional political culture. In order to achieve meaningful economic recovery, we need political leaders willing to sacrifice their own interests in order to advance those of ordinary citizens. Without this systemic change, we cannot achieve the stability necessary to navigate our way out of the current crisis,” Lawrence stated.
In a significant move for Sri Lanka’s tourism sector, NKAR, a stalwart in the industry for over 45 years, has announced a partnership with Holiday Max, Australia’s largest tour operator. Based in Perth, Holiday Max has ventured into Sri Lanka for the first time, marking a promising expansion for both entities.
This collaboration aligns with NKAR’s strategic vision to enhance the country’s appeal to international travelers. Nilmin Nanayakkara, Chairman and Managing Director of NKAR says, “Our policy has always been to promote Sri Lanka to new markets by attracting new operators, rather than competing through price undercutting or making unrealistic promises.” This statement encapsulates NKAR’s commitment to fostering sustainable tourism growth by focusing on quality over cost.
By prioritsing service excellence and maintaining high health and safety standards, NKAR aims to elevate the overall travel experience for visitors. This approach not only positions Sri Lanka as a premium destination but also attracts reputable operators like Holiday Max, who are drawn to the island’s unique experiences and NKAR’s dedication to quality service.
The partnership represents a remarkable opportunity to showcase Sri Lanka’s diverse offerings to Australian travelers, potentially opening new avenues for tourism growth. As NKAR continues to innovate and adapt, this collaboration is set to bolster Sri Lanka’s standing as a sought-after travel destination, steering the industry away from aggressive price competition towards sustainable growth through authentic experiences.
By focusing on attracting new operators and markets, NKAR is paving the way for a revitalised tourism landscape in Sri Lanka, one that values quality, safety, and the unique charm of the island. NKAR is recognised as one of the top five destination management companies in Sri Lanka. The company recently won 3 major awards at Sri Lanka Tourism Awards.
By Sanath Nanayakkare
LOLC Finance secured five Gold Awards and one Merit Award at the LankaPay Technovation Awards 2025, including the prestigious Overall Excellence in Digital Payments Gold Award for the sixth consecutive year.
The company dominated both bank and NBFI categories, winning Best Digital Strategy Gold Award, proving its superiority over traditional banks in digital finance.
Awards won were as follows.
Gold Awards:
Best Digital Payment Strategy (Banks & NBFI)
Best Mobile Application for Retail Payments via JustPay (Banks & NBFI)
Excellence in Customer Convenience (NBFI)
Financial Inclusivity (NBFI)
Overall Excellence in Digital Payments (NBFI)
Merit Award: Most Popular Digital Payment Product (iPay)
CEO Krishan Thilakaratne emphasized digitalization as core to LOLC Finance’s operations, enabling seamless, 24/7 financial access through platforms like LOLC Real Time and iPay.
Chairman Conrad Dias highlighted the audited, performance-based recognition and iPay’s mission to solve real-world financial challenges with cutting-edge tech.
iPay & JustPay innovations were Recognized for leading digital payment adoption with 1M+ downloads, 1.8M monthly transactions, and 65% JustPay market share, featuring biometric security and AI fraud detection.
Financial Inclusivity was recognized for Bridging gaps via multi-lingual services, cashless processes, and rural outreach programs.
Customer Convenience was recognized for real-time solutions (SLIPS, CEFTS) eliminating branch visits for payments and transfers.
Tree House International, located in Dehiwala, has been recognised as the Most Evidence-Based Special Needs School of the Year at BWIO Awards. The only international school in Sri Lanka dedicated exclusively to children with special needs, 75% of its students relocate from abroad for its high-quality, result-driven education.
Last semester, 100% of students transitioned to mainstream or vocational training.
The school is led by Dr. Anton James, a Chartered Behavioural Psychologist with over 20 years of global experience.
His evidence-based approach earned the highest honour from the British Psychological Society, and he was elected a Chartered Scientist. Co-directed by Chrystal Honsaker, an expert with 15 years of international special needs experience, the school also offers an accredited British curriculum alternative to GCSEs.
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