Business
No point in giving tax breaks to hotel industry without nurturing talent pool in the sector: President
There is no point in offering tax concessions to the hotel industry when they don’t have enough skilled staff to run the hotels effectively, and therefore, a concerted effort is needed to improve and nurture the talent base of the hospitality sector, President Ranil Wickremesinghe said recently.
The President made this statement addressing the Culinary Art Food Expo (CAFÉ) 2023 on 09th June 2023 at the BMICH Colombo.
“Chefs who have earned world class stars signify quality cuisine of a particular country, So more and more of our chefs should be trained to offer the kind of meals foreign tourists find it worth coming to Sri Lanka, and I propose to you that such international criteria should be included in the new tourism policy, I think we should have a proper system of grading our chefs where international cuisine is served. Why don’t we pursue international standards and give them the opportunity to master in the techniques of varied cuisines and empower them to earn stars for their dishes in order to bring the world’s attention to Sri Lankan chefs’ skills? I think when the new tourist policy is announced, it is a matter that you will have to discuss with the Ministry of Tourism,” he said.
The President said that it is the aim of the government to maximize the contribution of Sri Lanka Tourism in order to achieve the development goals of the country.
Further speaking he said,” The growth policy of the government includes tourist arrivals to double in the first stage and subsequently increase it up to 5 million. And then, we need to increase tourism earnings by attracting high-end tourists to visit Sri Lanka. Some are worried whether it is a difficult leap to make. I don’t think you have any other option. A significant number of the hotel industry human resource is leaving the country because it is more attractive to work elsewhere. We have to at least match with the remunerations paid in the Maldives to retain our hotel industry workforce. Otherwise you can’t retain the talent pool to effectively run the tourist industry.”
“The government will help hotels and associations to expand their talent pool and this has to be led by the private players. We will help by starting one school for cuisine and culinary art. I hope that the others will then follow suit. We can set up such schools in Nuwara Eliya, Bandarawela, Ella and Dambulla. Also, the government can support by getting chefs from abroad to come here and share their knowledge and experience with younger members of the profession. I would like to see some of the private entrepreneurs coming forward for this endeavour. You can’t develop the tourist industry without developing the human resource.”
“There is no point in giving tax incentives to hotels when they don’t have the required skilled talent in their kitchens. To realize the full potential of the workforce, the government is willing to collaborate with you in the next two months and announce our new policies. You will be surprised to hear the changes we are going to make in order to facilitate and empower the talent space in the tourism industry for which the support and contribution of your associations will be key,” he said.
The Chefs Guild of Lanka organized the Culinary Art and Food Exhibition which showcased the talent of culinary artists from across the country.
Business
HNB Finance bags 2 CMA Reporting Awards 2025
HNB Finance PLC has been honoured with two prestigious accolades at the CMA Excellence in Integrated Reporting Awards 2025, reaffirming the company’s commitment to transparency, good governance, and integrated business performance.
At this year’s ceremony, HNB Finance PLC was awarded Second Runner Up – joint in the category of “Best Integrated Report , Finance and Leasing Sector”, and also received a Merit Award in recognition of its continued efforts to enhance reporting quality and strengthen stakeholder communication.
The CMA Excellence in Integrated Reporting Awards, organised annually by the Institute of Certified Management Accountants (CMA) of Sri Lanka, acknowledge organisations that demonstrate superior financial reporting standards aligned with global best practices. Winners are assessed on key criteria such as financial performance and strategic management, corporate governance and compliance, innovation and digital transformation, sustainability practices, and professional excellence.
Chaminda Prabhath, Managing Director/CEO of HNB Finance PLC, commented on the recognition, “These awards reaffirm our commitment to upholding the highest standards of integrated reporting and transparent financial disclosure. At HNB Finance, we remain focused on delivering sustainable long-term value through robust governance frameworks, prudent financial management, and continuous innovation. The acknowledgement by CMA Sri Lanka reflects the disciplined efforts of our teams across the organization and motivates us to further enhance our reporting quality, strengthen ESG integration, and reinforce our stakeholder centric approach.”
Business
ComBank joins ‘Liya Shakthi’ scheme to further empower women-led enterprises
The Commercial Bank of Ceylon has reaffirmed its long-standing commitment to advancing women’s empowerment and financial inclusion, by partnering with the National Credit Guarantee Institution Limited (NCGIL) as a Participating Shareholder Institution (PSI) in the newly introduced ‘Liya Shakthi’ credit guarantee scheme, designed to support women-led enterprises across Sri Lanka.
The operational launch of the scheme was marked by the handover of the first loan registration at Commercial Bank’s Head Office recently, symbolising a key step in broadening access to finance for women entrepreneurs.
Representing Commercial Bank at the event were Mithila Shyamini, Assistant General Manager – Personal Banking, Malika De Silva, Senior Manager – Development Credit Department, and Chathura Dilshan, Executive Officer of the Department. The National Credit Guarantee Institution was represented by Jude Fernando, Chief Executive Officer, and Eranjana Chandradasa, Manager-Guarantee Administration.
‘Liya Shakthi’ is a credit guarantee product introduced by the NCGIL to facilitate greater access to financing for women-led Micro, Small, and Medium Enterprises (MSMEs) that possess viable business models and sound repayment capacity but lack adequate collateral to secure traditional bank loans. Through NCGIL’s credit guarantee mechanism, Commercial Bank will be able to extend credit to a wider segment of women entrepreneurs, furthering its mission to drive inclusive economic growth.
Business
Prima Group Sri Lanka supports national flood relief efforts with over Rs. 300 Mn in dry rations
Prima Group Sri Lanka has pledged assistance valued at over Rs. 300 million, providing essential Prima food products to support communities affected by the recent floods across the island. This relief initiative is being coordinated through the Ministry of Defence to ensure the timely and effective distribution of aid to impacted families.
As part of this commitment, Prima Group Sri Lanka donated a significant stock of Prima dry rations to the Government of Sri Lanka on 30 November. The consignment will be distributed across multiple severely impacted districts. These supplies will support families facing disruptions to daily life, ensuring they receive assistance as recovery efforts continue.
The handover took place at the Ministry, where the donation was received by the Secretary of Defence, Air Vice Marshal (Retired) Sampath Thuyacontha. Representing Prima Group Sri Lanka, Sajith Gunaratne – General Manager of Ceylon Agro Industries Limited, and Sanjeeva Perera – General Manager of Ceylon Grain Elevators PLC, officially presented the donation.
Prima Group has been standing with the people of Sri Lanka for over 40 years, and this donation reflects its broader commitment to the nation during challenging times. As relief operations continue across the island, the company remains focused on helping families rebuild their lives and supporting the ongoing recovery process in collaboration with the Government Authorities.
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