Business

JAAF calls on govt to set out apolitical Roadmap as a pragmatic call to action

Published

4 years ago

2022/05/30

Due to unprecedented national economic mismanagement, apparel sector which has long served as a fundamental pillar to Sri Lankan economy, is now under serious threat, Secretary General of JAAF Yohan Lawrence says

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.

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Business

India-Sri Lanka Foundation’s 41st meeting signals a new era of integration

Published

4 hours ago

2026/09/2

Sahan Weerasooriya

High Commissioners Santosh Jha and Mahishini Colonne chaired the 41st India-Sri Lanka Foundation meeting in New Delhi, highlighting ongoing bilateral cooperation across cultural, economic, and infrastructure sectors.

By Sanath Nanayakkare

On the surface, the 41st Board Meeting of the India-Sri Lanka Foundation (ISLF) in New Delhi on August 28, 2026, was structured as a routine diplomatic engagement. Co-chaired by Indian High Commissioner Santosh Jha and Sri Lankan High Commissioner Mahishini Colonne, the session formally approved a standard slate of cultural and educational projects.

However, looking closer at the broader macroeconomic and geopolitical landscape, the meeting underscored a much deeper structural alignment between the two nations. Against a backdrop of ongoing economic recovery, bilateral discussions increasingly touch upon critical areas of regional integration, investment, and infrastructure.

Among the key areas attracting attention are post-civil war reconciliation efforts and administrative milestones in the Northern Province.

Discussions in diplomatic circles continue to focus on the progressive release of state-held lands back to civilian inhabitants, alongside the anticipated finalization of provincial council elections to support local governance frameworks.

In the economic sphere, commercial integration remains a central theme as Sri Lanka stabilizes its foreign exchange reserves.

Recent financial dialogues in Colombo were seen exploring mechanisms such as transacting in Indian Rupees (INR), aligning with wider regional efforts to facilitate bilateral trade settlements and mitigate foreign currency pressures. Financial institutions, including the State Bank of India, continue to support these bilateral trade facilitation mechanisms.

Cooperation in the energy sector is also progressing through key joint ventures aimed at harnessing renewable resources. Proposals such as the 200MW solar power project in Sampur, developed via a partnership between NTPC and the Ceylon Electricity Board, highlight ongoing efforts to diversify national power generation. Discussions concerning cross-border grid interconnections further reflect strategies to enhance regional energy security and optimize renewable capacity.

At the same time, ongoing reviews of project tariffs – such as those involving renewable initiatives by firms like Adani Green Energy – demonstrate the government’s focus on balancing capital investments with domestic economic interests.

As the ISLF marks decades of supporting bilateral cultural exchanges through hundreds of initiatives, the overarching partnership between New Delhi and Colombo continues to evolve. Navigating these complex frameworks of trade, energy, and development remains essential as Sri Lanka charts its economic future within the South Asian region.

Business

Sysco LABS named one of Sri Lanka’s Most Outstanding Women-Friendly Workplaces for 2026

Published

4 hours ago

2026/09/2

Sahan Weerasooriya

At the far left and far right, respectively: Ruchini Weerawardena, Senior Manager – Talent Management and Development, and Tashiya Jayatilaka, Team Lead – People Operations accepting the award on behalf of Sysco LABS.

Sysco LABS, the Global Innovation Center of Sysco, has been named one of Sri Lanka’s Most Outstanding Women-Friendly Workplaces at the Women-Friendly Workplace Awards 2026, marking its highest recognition at the awards to date.

The recognition represents an important milestone in Sysco LABS’ ongoing journey to build a workplace where women are supported not only to enter and participate in the technology industry, but to develop, progress and build meaningful long-term careers.

Held recently, the 2026 awards organized by Satynmag continued a six-year journey of recognizing and encouraging organizations to move beyond intention towards meaningful and measurable progress for women at work. This year’s awards placed particular emphasis on a defining question for women-friendly workplaces: beyond representation, how far are women able to go?

This win also reflects a progression in the company’s recognition journey at the Women Friendly Workplaces Awards. Following an “Honorable Mention” in the 2023 edition of the ceremony while winning a special award for “Best Women in STEM Project” in 2025, 2026 marks the first time Sysco LABS has been recognized as one of Sri Lanka’s Most Outstanding Women-Friendly Workplaces.

Business

CCPI-based headline inflation accelerates in August 2026

Published

4 hours ago

2026/09/2

Sahan Weerasooriya

The Colombo Consumer Price Index (CCPI, 2021=100) based headline inflation (year-on-year, Y-o-Y) increased to 8.0% in August 2026 from 7.3% in July 2026, primarily due to the statistical base effect in food inflation. Meanwhile, food inflation (Y-o-Y) increased to 8.5% in August 2026 from 6.3% in July 2026, contributing mainly to the increase in headline inflation, while non-food inflation (Y-o-Y) decelerated to 7.7% in August 2026 from 7.8% in July 2026.

On a month-on-month basis, the CCPI increased by 0.28% in August 2026. This increase was mainly driven by the food category, which contributed 0.20 percentage point, largely owing to the increase in prices of Milk Powder, while the non-food category contributed a marginal 0.07 percentage point.

Meanwhile, core inflation (Y-o-Y) accelerated to 5.1% in August 2026 from 4.4% in July 2026.

According to the inflation projections made at the monetary policy round in July 2026, headline inflation is expected to remain above the target of 5% in the near term, before easing and stabilising around the target over the medium term, supported by appropriate policy measures. These projections are conditional, among other assumptions, on the expectation that the effects of the tensions in the Middle East and their spillovers will be temporary and gradually dissipate.