Connect with us

Business

Lanka to change telecom law to allow private party to build towers: State Minister

Published

on

ECONOMYNEXTSri Lanka government will table amendments for Telecommunications Regulatory Commission Act for the first time in 28 years and the key changes will include “third party” being allowed to  build towers, State Technology Minister Kanaka Herath said.

The Telecommunications Regulatory Commission of Sri Lanka (TRCSL) was established in 1996 with an aim to promote sustained development in the telecommunication industry by shaping the regulatory process, protecting public interest and being responsive to challenges in an increasingly competitive market.

Ensure competition in the market in is open, fair and effective is also the TRC’s core objective.

“We will table the amendment tomorrow. We expect to have the parliament debate within two months,” Herath told reporters at a media briefing in Colombo.

Regulating under sea cabal network and allowing other parties to build telecom towers are included in the amendment, he said.

“Right now what we do is the telco companies are the ones who develp them. The TRC allocate 50% of it and telco companies build it. After this amendment of the TRC Act, we will be able to open it for independent companies. So that they will be able to develop the towers and hand it over to any telco company.”

He said the government has targeted building 276 towers to boost faster communication and connectivity in the country with an aim to expand the digital economy to $15 billion in 2030 from the last year’s $2.3 billion.

The TRC has witnessed building on 50 towers last year and another 150 towers need to be build this year.  The towers are built by telecommunication firms and shared among all the telecom firms.

However, financial constraints after an unprecedented economic crisis have forced telecom companies to reduce their budgets for towers.

“Right now when we build towers, we share it. Say if Dialog builds a tower, they share it with (Sri Lanka) Telecom and with other telco companies,” he said.

“Similarly we are trying to give it to the third party so that it will develop faster than we have right now.”

“This will be only for building towers. All other equipment will be provided by telco companies similar to others. The third party will only be building the towers.”He said the third party to build the tower is likely to be chosen through tender process.



Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

BOC secures ‘SLIM Kantar People’s Banking Services Brand of the Year 2025’

Published

on

BOC officials receiving the award at the SLIM Kantar People's Awards 2025

Reinforcing its position as a leader in Sri Lanka’s banking sector, Bank of Ceylon (BOC) has been once again named the ‘SLIM Kantar People’s Banking Services Brand of the Year’ at the SLIM Kantar People’s Awards 2025. This recognition, based on consumer preferences, highlights the bank’s role in Sri Lanka’s financial sector and its strong relationship with customers.

The SLIM Kantar People’s Awards, one of the most anticipated corporate events in Sri Lanka, is an accolade that directly reflects the voice of the people. Organised by the Sri Lanka Institute of Marketing (SLIM) and backed by an independent survey conducted by Kantar, the awards recognise brands and personalities that have established strong connections with Sri Lankan consumers. BOC’s repeated success in securing this award shows its continued trust and significance in the lives of millions.

As a financial institution that has played a key role in the country’s economic stability and growth , BOC continues to focus on digital banking, good governance, financial inclusion, and sustainability. Its efforts to improve financial literacy, promote savings and entrepreneurship, and support the SME sector have strengthened its position as a trusted financial partner.

Commenting on the achievement, the Chief Marketing Officer of Bank of Ceylon Sameera D Liyanage stated, “Winning the ˜People’s Banking Services Brand of the Year at the SLIM Kantar People’s Awards once again is a testament to the unwavering trust our customers place in Bank of Ceylon. This recognition reinforces our commitment to delivering innovative, accessible, and customer-centric banking solutions that empower individuals, businesses, and communities across Sri Lanka. As we continue this journey of excellence, we remain dedicated to shaping the future of banking with trust, resilience, and service at our core”

The bank attributes this latest recognition to the support of its customers and stakeholders. Expressing gratitude, BOC reaffirmed its vow to deliver banking solutions while maintaining a customer-focused approach. As it continues to adapt to technological advancements and market changes, BOC is focused on economic stability and financial well-being for all Sri Lankans.

For over 85 years, Bank of Ceylon has been a cornerstone of Sri Lanka’s financial landscape, connecting individuals and businesses to global opportunities. BOC’s extensive network with over 2,300 touch points spread across the nation, ensures that bank’s customers have convenient access to a wide range of financial services. Moreover BOC was ranked as the only Sri Lankan Bank among the Top 1000 World Banks 2024 and the Banker of the Year 2021,2023 and 2024 by The Banker Magazine UK, The Number 1 Banking Brand in Sri Lanka by Brand Finance Lanka. Internationally, Bank of Ceylon has established a strong presence in key locations such as a Subsidiary in London, UK; branches in Male and Hulhumalé in the Maldives; Chennai, India; and the Seychelles.(BOC)

Continue Reading

Business

Sysco LABS concludes first edition of ‘Mentor Mash’ mentorship program

Published

on

Mentees Menusha Prithiviraj and Senuri Hettiarachchi sharing their experiences, highlighting the benefits of structured mentorship and knowledge sharing.

Sysco LABS recently concluded the first edition of ‘Mentor Mash’, an internal mentorship initiative designed to foster learning and professional development among colleagues. Over the course of six months, 26 mentor-mentee pairs engaged in structured mentorship, focusing on knowledge-sharing, career guidance and professional growth.

Speaking on the initiative, Rehan Anthonis, Senior Director – People Operations said: “At Sysco LABS, we recognize that the foundation of a strong workforce lies in continuous learning and development. The ‘Mentor Mash’ program was designed to provide colleagues with structured opportunities to gain insights, refine their skills and receive guidance from experienced professionals within the company. By fostering an environment where knowledge-sharing is prioritized, we are equipping our teams to drive innovation and excel as technology leaders.”

Sysco LABS remains committed to creating opportunities for internal learning, mentorship, and professional development, ensuring that colleagues are well-equipped to contribute meaningfully to company growth.

Continue Reading

Business

Aitken Spence Institute of Hotel Management strengthens hospitality workforce with latest graduates

Published

on

The graduates with the Aitken Spence Hotels management team

Aitken Spence Institute of Hotel Management, a key initiative of Aitken Spence Hotels’ Learning and Development arm, held its latest graduation ceremony at Heritance Ahungalla, marking another milestone in its mission to develop skilled professionals for the hospitality industry. Established in 2007 as part of the company’s strategic Corporate Social Responsibility (CSR) initiative, the institute operates with the support of the TUI Care Foundation, ensuring students receive world-class training and career opportunities.

With Hotel Schools in Ahungalla and Dambulla, the institute offers training in Food & Beverage, Housekeeping, and Professional Cookery through a five-month program that integrates classroom learning with practical industry experience. Since its inception, over 800 students have graduated, many securing employment within Aitken Spence Hotels or furthering their studies.

The 2025 graduating class comprised 90 students, with those from Ahungalla specialising in Food & Beverage and Housekeeping, while Kandalama graduates focused on Food & Beverage and Professional Cookery. The event was attended by graduates, their families, and senior representatives from Aitken Spence Hotels, including Susith Jayawickrama, Joint Managing Director of Aitken Spence Hotel Managements (Pvt) Ltd, Suresh Muttiah, Group Chief Human Resources Officer, and Maheesha Ratnayaka, COO of the Sri Lanka Hotel Sector.

Speaking at the event, Susith Jayawickrama emphasised the programme’s role in shaping the industry’s future workforce. “By equipping young professionals with the necessary skills and real-world exposure, we are not only enhancing their career prospects but also strengthening Sri Lanka’s hospitality sector,” he stated.

A notable highlight of the ceremony was the presence of Ms. Dagmar Wöhrl, Member of the Board of Trustees at the TUI Care Foundation, an organisation that has played a pivotal role in supporting the initiative. With assistance from the TUI Academy in collaboration with the Sustainable Hospitality Alliance, students receive comprehensive support, including accommodation, meals, uniforms, and a stipend during their training. The TUI Care Foundation is an independent charitable organization founded by TUI, one of the world’s leading tourism businesses and is dedicated to harnessing the positive impact of tourism to protect the natural environment and empower communities in travel destinations

More than 75% of graduates are expected to transition into roles within Aitken Spence Hotels, reinforcing the institute’s commitment to bridging the skills gap in the hospitality industry. This year’s ceremony once again highlighted the institute’s dedication to providing structured career pathways for aspiring hospitality professionals in Sri Lanka.

Continue Reading

Trending