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People’s Leasing appoints Two Senior Deputy General Managers

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People’s Leasing & Finance PLC (PLC) has recently announced the appointment of two veterans from financial backgrounds as Senior Deputy General Managers. Udesh Gunawardena was appointed as the Chief Operating Officer whilst Laksanda Gunawardena was appointed as Head of Branch Network of PLC, effective from October 31, 2022.

Udesh Gunawardena possesses over 25 years of experience in finance with particular emphasis on accounting, auditing, financial management, and treasury operations. He has held senior positions in the finance industry, demonstrating his abilities as a leader. He has played a key role at the Lankan Alliance Finance Limited Bangladesh which is a subsidiary of PLC on a secondment basis.

Udesh also serves as a Non-Executive Director of Lankan Alliance Finance Limited Bangladesh. He is an Associate Member of CA Sri Lanka and an Associate Member of Certified Management Accountants (Sri Lanka). He possesses a Diploma in Treasury, Investments and Risk Management (IBSL). He has also been awarded the World Prize Winner of the Australian Computer Society.

Laksanda Gunawardena has over 27 years of experience in corporate and SME financing. He is versatile in the areas of Credit, Marketing, Portfolio Management, Branch development, and Operations. He has functioned as the Head of Corporate Leasing for 10 years and Head of Marketing for three years with his leadership qualities. He has a track record of success in challenging leadership roles, achieving transformational change, and sustainable business growth.Laksanda serves as a of Director of People’s Micro Commerce Ltd, a fully owned subsidiary of People’s Leasing & Finance PLC.

He possesses an MBA from University of Wales and is a certified management accountant of the Institute of Certified Management Accountants, Australia and holds an MSc in Strategic Marketing from Asia e University. He is qualified for CMA (Australia) and CPM (Asia). Further, he is an Associate Member of the Institute of Credit Management Sri Lanka and holds a Diploma in Credit Management from the Sri Lanka Institute of Credit Management. Laksanda is a certified member of the Sri Lanka Institute of Marketing and a member of the Sri Lanka Institute of Directors. He is also a member of the Institute of Chartered Professional Managers of Sri Lanka.

People’s Leasing & Finance PLC is a leading Non-Bank Financial Institution in Sri Lanka and a subsidiary of People’s Bank, one of the largest State-owned banks in the country. Commencing operations in 1996 as a specialized leasing company, People’s Leasing was listed on the Colombo Stock Exchange in 2011. People’s Leasing has grown to become a diversified non-banking financial powerhouse with six subsidiaries in allied areas of specialization including a venture overseas in Bangladesh.



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Business

SriLankan Airlines Alerts Customers to Social Media Scams

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18 March 2026; Colombo – SriLankan Airlines wishes to alert customers to social media scams circulating on Facebook, WhatsApp and other platforms, often sent from both known and unknown contacts, featuring fake offers that misuse the SriLankan Airlines name, logo and brand.

 

SriLankan Airlines will never request payments, OTPs, credit card details, bank information or any other financial details via social media channels.

 

Customers are advised to always verify that any promotional offer is linked to the airline’s official website, www.srilankan.com, or shared through the verified social media accounts of SriLankan Airlines, as scammers often use fake links with unusual characters or spellings, or impersonate the airline through fake social media accounts.

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JSL & Fentons Joint Venture to Construct Double Circuit Transmission Line from Mannar Grid Substation to Mullikulam Collection Grid Substation

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Approval has been granted at the Cabinet meeting held on 03-02-2025 to implement the formal procurement procedure to select a contractor for the construction of a 28 km long double circuit transmission line with the capacity of 220 kW, from Mannar Grid Substation to Mullikulam Collection Grid Substation under the Lot B of the Mullikulam Wind Power Transmission Project.

Bids have been invited following the International Competitive Procurement Procedure and five (5) bids have been received.

Accordingly, based on the recommendations submitted by the High-Level Standing Procurement Committee after evaluating the aforementioned bids, the Cabinet of Ministers has approved the resolution furnished by the Minister of Power and Energy to award the contract to the JSL & Fentons Joint Venture – Intend (Jyoti Structure Limited, India and Hayleys Fentons
Limited, Sri Lanka), substantially responsive minimum bidder, for an equal amount of Sri Lankan Rs. 2,269.18 million (without VAT).

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Fuel crunch forces midweek shutdown; courts told to show leniency

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Industry observers say some firms may be compelled to seek loan moratoria if the disruption linked to the oil crisis continues for another month

Economic pressure likely to push already-strained businesses into a liquidity crunch

By Sanath Nanayakkare

Sri Lanka is slowing to a midweek halt as a deepening fuel shortage has compelled the government to suspend most public sector operations every Wednesday, while courts have been advised to take a lenient view of attendance requirements amid transportation difficulties caused by fuel rationing.

The directive, issued by the Commissioner General of Essential Services, suspends most state functions one day a week until further notice in an attempt to conserve scarce fuel reserves. Authorities have also urged the private sector to adopt a similar arrangement.

Officials say the measure is aimed at reducing commuter traffic into major cities, particularly Colombo, where thousands of public servants travel daily from suburban areas.

Explaining the decision to select Wednesday, officials said declaring Friday a holiday could have effectively denied the public access to government services for three consecutive days when combined with the weekend.

However, the development underscores the fragility of Sri Lanka’s economic recovery as households continue to grapple with rising prices of essential goods.

The impact is already visible on the streets. Long queues have formed outside fuel stations while public buses have been seen overcrowded, with passengers clinging to footboards. Many commuters were also seen attempting to secure rides through the ride-hailing platforms Uber and PickMe, where drivers were demanding higher fares as demand surged.

Recognising these difficulties, the Judicial Service Commission (JSC) has issued a circular instructing judges to take transportation constraints caused by fuel rationing into consideration when making legal determinations.

Judges have been advised to consider the possibility that lawyers, litigants, witnesses and even suspects may be unable to attend court due to limited fuel availability.

While court proceedings are expected to continue, judicial officers have been asked to assess such situations on a case-by-case basis.

The JSC has also directed courts to make greater use of virtual platforms whenever possible. This is expected to apply particularly to proceedings such as extending remand orders, thereby avoiding the need to transport prisoners physically to court.

Authorities believe that conducting such hearings online could significantly reduce fuel consumption associated with prison transport. The temporary measures will remain in effect until further notice.

Meanwhile, officials say special fuel allocations may be considered for critical sectors including tourism, the Colombo Port, agriculture, health services, the plantation industry and public transportation in order to sustain essential services and economic activity.

However, the broader economic outlook remains uncertain. Business leaders warn that companies already burdened with higher taxes, rising operational costs and thin margins could face severe liquidity pressures if global oil prices remain elevated.

Industry observers say some firms may be compelled to seek loan moratoria if the disruption linked to the conflict involving Iran continues for another month.

Public concern has also been heightened by recent comments from Iranian officials indicating that Tehran has not sought a ceasefire in the ongoing conflict.

For President Anura Kumara Dissanayake, the unfolding fuel shortage is emerging as one of the most serious challenges facing his administration. Although the government has been holding internal consultations, critics say an all-party conference has yet to be convened to formulate a unified national response to the crisis.

Within business circles and sections of the public, questions are increasingly being raised about whether the government possesses the institutional capacity and experience required to manage a prolonged energy shock.

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