Business
Maldives-Sri Lanka strategic collaborations to boost bilateral ties
By Ifham Nizam
Sri Lanka and the Maldives are embarking on a series of strategic collaborations aimed at boosting trade, tourism and bilateral relations.These include the development of the Kuda Fushi Islands port, education exhibitions and Corporate Social Responsibility (CSR) projects.
These initiatives reflect the deep-rooted historical and cultural ties between the two nations, Maldives’ ambassador to Sri Lanka and other key stakeholders stressed at a media briefing held at the Ceylon Chamber of Commerce on Wednesday.
Speaking to journalists, Sri Lanka-Maldives Business Council president Sudesh Mendis said that the Sri Lankan government has been offered a 50% tax concession for goods transported from Sri Lanka as part of a joint project with Maldives to develop the port at Kuda Fushi Islands. The project includes the establishment of warehouses and logistics facilities, potentially transforming the region into a major maritime hub.
“If we miss this opportunity, it could be taken by neighbouring countries, which would significantly impact our existing maritime business, Mendis stressed.
He added that the project also envisions launching a ferry service between Sri Lanka and the Maldives to bolster tourism and address logistical challenges in the transport of fresh produce.
Education remains a cornerstone of Sri Lanka-Maldives relations. Maldives ambassador Masood Imad responding to The Island Financial Review queries, highlighted the historical connection, noting that many Maldivian leaders, including himself, were educated in Sri Lanka. “I grew up here and feel Sri Lankan. Many Maldivians prefer Sri Lanka for its proximity and quality of life, he said.
To further strengthen educational ties, Sri Lanka is organizing an education and wellness exhibition in May. The exhibition will showcase schools, universities and healthcare facilities, aiming to attract Maldivian students and retirees seeking medical and wellness services.
The ambassador also raised concerns over visa restrictions for Maldivians following the Easter Sunday attacks and COVID-19 pandemic.
He urged the Sri Lankan government to remove Maldives from its list of security-concerned countries, stating, “If Pakistan is not on this list, why is Maldives? This needs to be addressed urgently to restore confidence and encourage more Maldivians to settle in or visit Sri Lanka, a concerned ambassador said.
In addition to economic ventures, a CSR project is set to launch on Kalimantan Island, a remote fishing community in the Maldives. The project will include health assessments, education and providing equipment for speech and hearing assessments.
Audiologist Mihiri Wikramarachchi, a key partner in the project, said, “Our goal is to train locals and build sustainable services. We’ve been working in Maldives for over 35 years and this initiative reinforces our commitment to improving lives.”
He proposed a conference involving smaller nations to foster collaboration and human resource development. “It’s not just about working with big countries like Germany. Smaller nations like Maldives and Sri Lanka have immense potential for mutual growth,” he noted.
With these initiatives, both nations aim to deepen their partnership. “Maldives and Sri Lanka share a unique bond. Together, we can overcome challenges and create opportunities for mutual benefit, the ambassador added.
Business
Rs 160 million + diesel discrepancy at Lakvijaya power plant prompts probe
By Ifham Nizam
A Rs.160 million-plus diesel discrepancy at the Lakvijaya power plant in Norochcholai has triggered an internal investigation, raising questions over the handling of public funds and the controls governing fuel purchased for electricity generation.
The discrepancy surfaced during an internal audit of diesel supplied to the plant from the Kolonnawa and Sapugaskanda fuel terminals, according to senior officials familiar with the inquiry.
The audit has identified five transactions—two in December 2025 and three in January 2026—in which diesel recorded as delivered to the plant allegedly could not be fully accounted for in its physical stocks.
The investigation is now examining whether these were isolated discrepancies or part of a longer-running practice.
One transaction under scrutiny relates to January 16, when records reportedly showed that 10 diesel bowsers had arrived at the plant. Investigators subsequently found indications that the fuel stock corresponded to only nine bowsers.
A storekeeper responsible for the relevant fuel operation has reportedly been temporarily removed from those duties pending the investigation.
A senior official said investigators were reviewing historical records amid indications that similar discrepancies may have occurred over a longer period. If established, the financial exposure could therefore exceed the Rs.160 million currently identified.
The investigation is comparing fuel-terminal dispatch records, tanker movements, plant-entry records, receiving documents and physical stocks to establish exactly how much fuel was dispatched, received and accounted for.
That audit trail will also be critical in determining who authorised, received and certified the disputed consignments, and whether established controls were followed.
Relevant documents were reportedly transferred from Norochcholai to the company’s Colombo head office on September 26 for further examination, with electricity-sector security personnel assisting in the transfer.
The internal audit has also reportedly uncovered expired chemical stocks worth several hundred thousand rupees in the plant’s stores. Investigators are examining whether further inventory-management irregularities occurred.
The matter was also reportedly taken to the Puttalam Police Special Crimes Investigation Unit on September 26.
When contacted by Puttalam-based journalist Hiran Priyankara Jayasinghe for The Island Financial Review, Lakvijaya Power Plant Manager Nalaka Kumara confirmed that an investigation was under way but declined to provide further details.
The financial issue is direct: if the plant paid for diesel it did not receive, public-sector funds were spent without the electricity sector receiving the corresponding fuel.
Business
Sri Lanka Food Processors Association holds 29th Annual General Meeting
The Sri Lanka Food Processors Association (SLFPA) successfully convened its 29th Annual General Meeting (AGM) on September 23, 2026, at the Water’s Edge Hotel, Battaramulla. Bringing together key industry stakeholders and member organizations, the event served as a platform to review milestone achievements from the 2025/2026 term and outline strategic priorities for the nation’s food and beverage processing sector.
At the AGM, the new Executive Committee for 2027/2028 was appointed, comprising: Honorary President Aruna Senanayake C.W. Mackie PLC Imme. Past President Thusith Wijesinghe Trans Continental Packaging & Commodities (Pvt) Ltd.
President Elect Nadishan Guruge Meadlee Trading Co. (Pvt) Ltd.
1st Vice President Damitha Perera Forbes & Walkers Commodity Brockers (Pvt) Ltd.
2nd Vice President Rasika Seneviratne Diesel & Motor Engineering PLC 3rd Vice President Deepal De Alwis Neochem International (Pvt) Ltd.
Honorary Secretary Amila Weerasinghe Nestle Lanka Limited.
Asst. SecretaryDineth Alahakoon Country Style Foods (Pvt) Ltd.
Honorary Treasurer Sameera Jayathilaka Westmann Engineering Company (Pvt) Ltd.
Asst. Treasurer Niroshan Dalpethado C D De Fonseka & Sons (Pvt) Limited. In addition to the above office bearers, the following ten Executive Committee Members were appointed:
Sanjeewa De Silva Unilever Sri Lanka Limited Sheran De Alwis MA’S Tropical Food Processing (Pvt) Limited
Thusitha Ekanayake Anods Cocoa (Pvt) Ltd.
Vijitha Govinna Plenty Foods (Pvt) Limited Ms. Praharshi Wickramasekara International Commodity Exports (Pvt) Ltd.
Sanjeewa Niroshan SGS Lanka (Pvt) Ltd. Kushan Amarasinghe Finagle Lanka (Pvt) Ltd.
Rangajeewa Hettiarrachchi Fonterra Brands Lanka (Pvt) Ltd.
Harindra Abeyrathna Vision Technologies International (Pvt) Ltd. Thilina Weerasekara Ceylon Cold Stores PLC
The event was proudly supported by key industry partners, with SGS Lanka (Pvt) Ltd serving as the Platinum Sponsor. Unilever Sri Lanka Ltd. and Nestlé Lanka Ltd. joined as Gold Sponsors, Ceylon Agro Industries – Prima as the Silver Sponsor, while Lanka Exhibition & Conference Services (LECS) and Hero Nature Products (Pvt) Ltd., supported as Bronze Sponsors.
The proceedings concluded with a vote of thanks delivered by Hony. Secretary Deepal De Alwis, followed by cocktails and a fellowship networking session, providing an opportunity for members to connect and strengthen industry ties.
Business
Uber brings the ‘business class of back seats’ to Sri Lanka with Uber Black
New premium ride option expands Uber’s portfolio from affordable Moto and Tuk rides to premium on-demand travel
Uber announced the launch of Uber Black in Sri Lanka, bringing its premium ride experience to the country for the first time. Designed as the “business class of back seats,” Uber Black combines premium vehicles and highly-rated drivers for riders looking for greater comfort, quality and a more elevated travel experience.
The launch comes as demand for premium products and experiences grows across Sri Lanka, with consumers seeking greater choice and quality in their everyday experiences. Uber Black brings this choice to on-demand mobility, whether for an airport journey, an important business meeting, a special occasion or simply when riders want to travel in greater comfort.
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