Business
Landmark accord to implement Sri Lanka Transit Card

Channa de Silva (General Manager / CEO – LankaClear Pvt Ltd), . Kingsley Ranawaka (chairman – Sri Lanka Transport Board), Dharmasri Kumaratunge (Director Payments and Settlements – CBSL), Cabinet Minister of Transport Gamini Lokuge, Shashi Welgama (chairman – National Transport Commission), Monti Ranatunga (Secretary to the Ministry of Transport), K.B. Rajapakse (Senior Deputy General Manager – Payment, Digital, Process Management & Quality Assurance – People’s Bank)
The Ministry of Transport and the Central Bank played lead roles to get the key stakeholders to sign a four-party agreement to introduce Sri Lanka Transit Card (SLTC) recently. The SLTC initiative, which had been in the drawing board for many years will finally come to light in line with manifesto of HE the President, Vistas of Prosperity and Splendour, which proposed a single transport e-ticket system to be introduced in Sri Lanka.
The four-party agreement for the implementation of SLTC was signed amongst Sri Lanka Transport Board (SLTB), National Transport Commission (NTC), People’s Bank and LankaClear (Pvt) Ltd. at the Ministry of Transport on April 22 under the patronage of Gamini Lokuge, Minister of Transport; Dilum Amunugama, State Minister – Vehicle Regulation, Bus Transport Services and Train Compartments and Motor Car Industry, Secretaries and officials of both ministries. Chairman SLTB, Kingsly Ranawaka, Chairman NTC, Sashi Welgama, GM/CEO LankaClear Channa de Silva and Senior DGM, People’s Bank, K. B. Rajapakse signed the historic agreement representing their respective organizations.
The proposal to implement the SLTC submitted by LankaClear, with approval from Central Bank and support from the Ministry of Transport, received cabinet approval in February 2021. SLTC will be issued by all authorized financial institutions under the National Card Scheme (NCS) facilitated by LankaClear. SLTC will be the first-ever 2in1 card to be introduced in Sri Lanka that comes with a unique stored-value component, in addition to debit/credit feature, built into a single chip card. This unique feature of maintaining a single card to be used across ATMs, POS machines and all transport sectors provides a citizen with the convenience of using a single card to carry out multiple modes of transactions. In addition, it will save the government a colossal amount of money in terms of printing and distributing cards if it were implemented as a standalone transport card.
At the pilot phase, SLTC will be accepted in public and private buses in selected routes identified by the Ministry of Transport, which will be gradually extended to other routes and to Sri Lanka Railway. This national initiative was aptly backed by the Ministry of Transport and the Central Bank while People’s Bank came on board as the first bank to issue SLTC, which is set to be rolled out in a couple of months. Bank of Ceylon and other state banks are also in the process of joining this national initiative by issuing SLTC within a few months. The SLTB and NTC are in the process of implementing the required technology backend to facilitate this card in public and private buses.
LankaClear has come forward to operate the network to facilitate the transactions that are carried out for public transport using SLTC, under the guidance of the Central Bank, free of charge in considering the importance of this national initiative. The Ministry of Transport and NTC have obtained the support of all provincial transport authorities towards this initiative as well as the backing of most private bus owner associations. The initiative has gained acceptance amongst all stakeholders as the scheme has been designed in a way that it is proposed to contribute towards the welfare of bus drivers and conductors, who will play a critical role in the execution of this project.
Business
Cabinet approves CECB as consultant for renovation of the Karainagar boat yard project

The Cabinet of Ministers has approved the proposal presented by the Minister of Fisheries, Aquatic and Marine Resources to seek the services of the Central Engineering Consultancy Bureau as a consultant for the renovation of the Karainagar boat yard project and allocate 40 million rupees from the Treasury for the expenditure to be borne by the Government of Sri Lanka.
[A memorandum of understanding was signed by the President during his official visit to India in December 2024. , to obtain a grant from the Government of India for the renovation of the Karainagar Boat Yard
According to the MOU, the responsibility of providing the technical consultancy service for the project and exempting the goods and equipment related to the grant from taxes has been assigned to the government of Sri Lanka.]
Business
‘Transformative infrastructure’ installed at Colombo West International Terminal

In a landmark move for Sri Lanka’s logistics landscape, EFL Project Logistics has completed a critical phase of deliveries for the Colombo West International Terminal (CWIT), a transformative infrastructure project poised to reshape the country’s role in global maritime trade.
CWIT—a collaboration between Adani Ports and SEZ Ltd (51%), John Keells Holdings and the Sri Lanka Ports Authority—is set to be the island’s first fully automated deep-water terminal. As it gears up for full commercial operations in 2025, the recent arrival of high-tech port handling equipment marks a key economic inflection point for Sri Lanka.
Speaking exclusively to The Island Financial Review on the impact, Mohamed Niyas, General Manager – Project Logistics at EFL, said, “The logistics we executed for CWIT are more than just cargo movements; they are catalysts for economic transformation. These deliveries—ranging from electric inter-terminal trucks to automated gantry cranes—are essential to positioning Sri Lanka as a sustainable, high-capacity transshipment hub.”
Among the highlights of the operation were 62 state-of-the-art Sany electric trucks and massive quay and gantry cranes, representing not only a technical leap but also a green one. These advancements contribute to CWIT’s eco-efficient design and bolster Colombo’s capacity to handle up to 15 million TEUs by 2026.
Economically, the development of CWIT—and EFL’s role in its expedited setup—signals a push for increased foreign direct investment, enhanced export competitiveness and job creation across the logistics and engineering sectors. As Niyas emphasized, “We are not just helping move cargo; we are enabling national economic value. Every successful delivery brings us closer to a future where Sri Lanka is a leading player in the South Asian maritime corridor.”
With global shipping routes evolving and automation driving next-gen port operations, CWIT is seen as a strategic asset for long-term growth. EFL’s role in the project showcases the kind of logistics innovation necessary to support this ambition—efficient, sustainable and globally competitive.
By Ifham Nizam
Business
Marine Tourism Roadmap for Sri Lanka launched by SLTDA

Sri Lanka marked a major milestone in its tourism development efforts with the official launch of the Marine Tourism Roadmap on April 10 in Colombo. This initiative, led by the Sri Lanka Tourism Development Authority (SLTDA) with support from the Asian Development Bank (ADB) under its technical assistance program TA9881 SRI: Supporting Tourism Resilience, lays the groundwork for a new chapter in tourism and the nation’s blue economy.
The Marine Tourism Roadmap was developed through an extensive process of data collection, stakeholder consultations and site visits conducted by the ADB appointed international consultant together with officials of the SLTDA. The final validation of the Roadmap was done by the Marine Tourism Steering Committee, which included representatives from key marine related public and private sector institutions. International expertise was provided by Ms. Aleksandra Dragozet (CEO & Founder – Sea Going Green), ADB’s appointed marine tourism consultant, whose guidance ensured the strategy aligned with global best practices for sustainable tourism. The SLTDA officials, Dr. Prasad Jayasuriya, Director-Tourism Planning, Development & Investments and S Dadeepan, Assistant Director-Tourism Planning & Development coordinated all meetings, site visits and activities with relevant stakeholders and the Steering Committee.
The Marine Tourism Roadmap emphasizes a balanced approach between conservation and economic development, promoting eco-friendly activities such as diving, snorkeling, ship wreck diving and marine wildlife watching. These activities are designed to support local livelihoods while safeguarding Sri Lanka’s rich marine biodiversity, particularly coral reefs, marine mammals, and fragile coastal habitats that face increasing environmental pressure. The strategy outlines two categories of coastal destinations: areas covering Kalpitiya through Galle to Trincomalee, which possess established marine tourism industries; and areas covering Mannar, Jaffna and the North-Eastern coastal belt, which are recognized for their emerging tourism potential. Notably, Sri Lanka’s ocean territory is nearly seven times larger than its landmass, highlighting the vast, untapped opportunities for marine-based tourism. The roadmap presents both short-term and long-term implementation strategies, aiming to develop sustainable marine tourism infrastructure, enhance visitor experiences, and ensure the protection and resilience of marine ecosystems in the years ahead.
The Roadmap itself was the result of collaboration among stakeholders covering coastal areas of Negombo, Kalpitiya, Mannar, Jaffna, Mullativu, Trincomalee and Galle and also the Steering committee members representing 18 key marine related public and private sector institutions including Presidential Secretariat, Ministry of Tourism and the SLTDA. This unified approach ensured that the document reflects the diverse perspectives of stakeholders directly involved in marine and coastal tourism development.
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