Business
President motivates mass movement at ground level to form inclusive government

Says Sri Lanka can enter new politics after fixing urgent economic issues
By Sanath Nanayakkare
President Ranil Wickramasinghe said on Saturday that Podu Jana Peramuna and UNP politicians should talk to all other political parties including the SJB, JVP and TNA in order to create a mass movement at the ground level to push for an all-party government.
“If our economy slides any further, the country wouldn’t be in existence. Our inflation will increase further. This year our GDP will contract by 7%. That’s a big negative growth number. Next year, with the steps we have taken, the contraction would be about 3%. In the following year, we will be able to achieve 1% surplus in our primary account. I am not saying these to frighten anyone. Solutions for these challenges must be found first. Sri Lanka can enter new politics after finding solutions to its urgent problems at hand,” he said.
The President made these remarks in Kandy on Saturday addressing a group of Podu Jana Peramuna and UNP politicians functioning mainly at local government level.Some excerpts from his speech are as follows.
“Don’t restrict your unity to just two political parties. Take that spirit of unity beyond, and rally round everyone to rebuild the country. If their preferred political parties want to contest elections separately, that’s okay. But you should talk to the people in the villages, tell them the truth and win them over to work together and pull the country out of its economic abyss. Don’t remain silent.”
“As you know, a massive economic pressure emerged in the country. A political change occurred as a result of this economic pressure. President Gotabaya Rajapaksa exited, I became the President and Dinesh Gunawardena took over as Prime Minister. This change occurred because of the economic explosion which stemmed from severe shortages of fuel, fertilizer etc. These unprecedented events motivated the people to start a peaceful struggle against the government. But later on this peaceful struggle (Aragalaya) was taken over by other organizations under the pretext of Aragalaya. For the first time in Sri Lanka, we experienced Fascist terrorism. The LTTE assassinated people by shooting and bombing. Setting fire to houses and book collections was something learnt from Adolf Hitler. Surprisingly, these Fascist groups were joined by many others in the civil society. At such crossroads, I took over the presidency. Although I took it over, the economic burdens of the people have not alleviated. People’s day-to-day issues are still the same. They still live amid shortages of fuel, fertilizer, cooking gas and job insecurity. Also, we lack the capital to carry out development programmes in the villages. Now the question before us is; are we going to reduce the burdens faced by the people or increase them instead?
“Repeating old slogans won’t help us if we don’t find solutions. Some people say that this economic crisis was created because of President Gotabaya Rajapaksa’s decision to ban the import of chemical fertilizer. The UNP says the crisis came about because we didn’t seek assistance from the IMF in time. The Podu Jana Peramuna says it happened because the previous government took out large loans. Now, what are we going to do? Are we going to debate continuously, or act to resolve the issues together? Debating would be productive if it could bring in a shipment of fuel or fertilizer. Debating would be productive if that could get us USD 50 million funding from the IMF. If that doesn’t happen, no debate will help develop the country. We have now got to this point and one can write books and analyses about them. Some people want to organize processions demanding ‘Ranil Go Home’. I’d like to tell them, please don’t do it. I don’t have a home to go to. If you are willing, bring in a crowd of people to rebuild my torched house. And once I have resettled there, you can go past my house saying, ‘Ranil Go Home’. Otherwise there is no point in asking a man without a home to go home.”
“We are in traditional politics where we point fingers at one another and put the blame on others. But doing so will not help decelerate our high inflation. Doing so will not help increase our GDP. We have to find the money to purchase fuel, and fertilizer for Maha season. That’s the challenge and our politics should be able to enable it, to facilitate it. That’s what we should be doing. As prime minister and finance minister I discussed with the IMF and we found a potential recovery programme. My objective was to reach the IMF staff level agreement in July 2022 and have it approved by the IMF Executive Committee in the beginning of August 2022. Now it will defer till end of August because discussions stalled since July 9. In this backdrop, a staff level agreement could be reached by end of August also because of the holidays of the month. So we would be able to get an IMF facility approved by its Executive Board in September 2022.”
“The political instability delayed the IMF programme. Unless we have consensus among us nobody will lend us any money. Are we going to continue our familiar behavior in politics? We must think anew. The youth first came to the site of Aragalaya insisting on political and economic reforms. I have no debate about it. What the youth insisted on in the first place was very relevant and they need to be accepted. However, later on others took it over and diverted the peaceful protests towards violence.”
“Let’s not think that once we get a facility from the IMF, our problems will go away. The weight of our loans will increase. So how do we repay the loans? To repay our loans, we need more foreign exchange. We need to explore new ways of boosting our external revenue. Modernization of agriculture is one way to do it. Are we going to make policies and implement result-oriented reforms, or are we going to just shout slogans?”
“Politicians of Podu Jana Peramuna and UNP need to understand this and work together. If we don’t do that the country will be ruined and the younger generation will curse us. Today’s challenge before us is; are we going to fall or stand back on our feet. The Parliament is facing this very challenge today. The President, the Cabinet and other organizations are facing it today. How do we face up to this and build a new Sri Lanka? How do we create a stronger middle class? How do we embrace modern agricultural practices to harness the best yield and productivity? How do we pursue an export-oriented economy? That’s the path we should take right now. The economic model that exists today is the one that initiated by President J.R.Jayawardena. I was part of it. Its effectiveness has lasted its time. We can’t go back to those policies or economic models in British or Kandy eras. We must think anew, understand the global market and adapt to it as a country to gain from it. We must modernize our villages. We don’t still have a digital economy and we must establish it. We must take on the responsibility of these initiatives and move on.
Which is better; are we going to the villages with this message as separate political parties or are we going to do it as one unified group of people? Because of your quietude, there is a political vacuum in the villages today. Are we going to let others divide the people? I would never have agreed with setting fire to houses, books and property. We shouldn’t let our political differences destroy our friendships. We should have a new beginning. So as people’s representatives you should carry the message of unity – which is meant to resolve the crisis – to the villages without being quiet. Your best effort would be working at the ground level to create a massive people’s voice to push for the formation of an all-party government. For that you have to reach out to everyone without any political differences.”
President Wickramasinghe also said that a programme would be introduced in two weeks at village level to tackle food insecurity and livelihoods insecurity.
Business
Environmental devastation seen as precipitating economic crisis in Northern Sri Lanka

As parched soil cracks underfoot and once-thriving fields lie fallow, the farmers of Mannar are living on the frontlines of a crisis that is no longer just environmental — it’s economic. Climate change has tightened its grip on this northern region, and with each failed monsoon and dwindling harvest, the livelihoods of entire communities are evaporating.
The Centre for Environmental Justice (CEJ), along with local stakeholders, has raised urgent concerns over the increasingly hostile conditions faced by farmers in the region. At the heart of the problem are erratic weather patterns — prolonged droughts, unpredictable rainfall, and extreme heat — all of which disrupt the delicate balance required for traditional farming practices.
“The erratic weather patterns triggered by climate change are not only drying up water sources but also pushing already vulnerable farming communities deeper into poverty, Dilena Pathragoda, Executive Director, CEJ told The Island Financial Review.
He added: “The economic consequences are severe — from crop failures to loss of livelihoods — and without timely interventions and climate-resilient strategies, the long-term sustainability of agriculture in regions like Mannar is in jeopardy.”
In 2024 alone, nearly 3,000 acres of paddy land in Mannar District were left uncultivated due to lack of water, according to data from local agrarian offices.
In other words, this represents an estimated loss of over Rs. 225 million in potential harvest income, based on average yields and market prices. Farmers who once cultivated rice, onions and vegetables with predictable seasonal success now face devastating uncertainty.
The failure of rain-fed tanks (reservoirs) and the drying up of canals have made irrigation nearly impossible in some areas. In Nanattan and Musali divisions, water availability dropped by some 60 per cent compared to historical averages. As water becomes scarcer, so do incomes, leading many families to take on debt or abandon agriculture altogether in search of daily-wage labour.
This agricultural downturn is having ripple effects throughout the local economy. In Mannar, where over 60% of households depend directly or indirectly on farming, the collapse of agricultural productivity has led to rising food prices, shrinking local markets, and reduced cash flow for small businesses. Fertilizer vendors, seed suppliers and even transport workers are reporting significant losses.
“Some farmers have seen their seasonal incomes drop from Rs. 200,000 to under Rs. 50,000, noted one local agriculture officer. “Many are defaulting on informal loans and are now relying on relief aid to survive.”
Economists warn that this trend, if unchecked, could contribute to broader socio-economic instability. Rural depopulation, youth migration, and heightened inequality are already being observed in vulnerable districts. Women, in particular, face added burdens as household food security becomes more precarious and access to clean water requires greater physical labor.
Despite these challenges, experts insist that solutions are within reach. Climate-resilient farming techniques — such as drip irrigation, drought-tolerant crops, and community-managed water systems — have shown promise in pilot projects across other dry zones. However, scaling these up requires political will, coordinated planning, and substantial investment.
Environmental advocates also call for a shift in national agricultural policy. “Rather than pouring money into outdated infrastructure or monoculture subsidies, Sri Lanka must pivot towards sustainable, adaptive farming models, said Pathragoda. “This includes better support for farmers’ education, access to technology, and integrated land and water management.”
Civil society groups, including CEJ, are urging both the government and international donors to treat the Mannar crisis as a wake-up call. Climate finance mechanisms, they argue, must be made accessible to grassroots communities, not just large-scale development firms. Moreover, climate justice must take center stage — recognizing that those suffering most have contributed least to the global emissions causing these disruptions.
As Sri Lanka navigates an uncertain economic recovery, ensuring food security and rural resilience is more than an environmental imperative — it’s a matter of national stability, Pathragoda stressed.
By Ifham Nizam
Business
CSE and NCE partner to empower Sri Lankan exporters

The Colombo Stock Exchange (CSE) and the National Chamber of Exporters of Sri Lanka (NCE) entered into a strategic partnership to support Sri Lankan exporters by enhancing their access to capital market opportunities and broadening visibility for their businesses.
The partnership agreement was signed by Shiham Marikar, Secretary General / CEO, The National Chamber of Exporters of Sri Lanka, and Ms. Vindhya Jayasekera, Chief Executive Officer Designate, CSE. The signing ceremony was attended by Ms. Dilini Gamlathge, Assistant Director, Member Services/Operations, The National Chamber of Exporters of Sri Lanka; Ms. Punyamali Saparamadu, SVP Commercial, CSE; Ms. Himashi Wickramasinghe, Manager, Commercial, CSE; Ms. Shivandini Liyanage, SVP, Legal, Enforcement and Compliance, CSE; and Kanishka Gunawardana, Manager, Enforcement and Compliance, CSE.
This partnership with the CSE will provide NCE members—both experienced exporters and aspiring ones—with access to vital capital market knowledge and services to support their business expansion efforts.
This collaboration aims to offer exporters tools and resources to strengthen their market presence and growth potential. It also creates a platform for SMEs within the export sector to consider listing on the Colombo Stock Exchange, particularly through the Empower Board—dedicated to facilitating capital raising for small and medium-sized businesses.
Through this partnership, CSE will also gain direct access to a network of established exporters, enhancing the reach of capital market education, awareness-building, and strategic financing solutions among key players in Sri Lanka’s export economy.
The collaboration will further enable opportunities for joint forums, knowledge-sharing sessions, and networking events, providing exporters with guidance on alternative avenues for capital generation and highlighting the benefits of corporate good governance and transparency through listing.
This partnership adds credibility to the CSE and NCE’s shared efforts and signals trustworthiness to potential stakeholders, offering significant advantages for fostering growth, strategic opportunities, and long-term development within Sri Lanka’s export sector.
Business
A case for a visa-free tourism regime in SL

Sri Lanka should not have any restrictions for tourist arrivals and a visa-free regime is the need of the hour to woo more visitors, said travel and aviation expert Nihal C.B. Perera.
The founder of a family-owned company in Sri Lanka, Sparklink Travels, Perera said that Sri Lanka should offer the same ‘Visa Free facility’ initiated by Singapore and now successfully implemented by Thailand.
A former Ceylon Tourist Board, Development and Publicity Director, he said that during his time, they leased or gave several unused state land areas to build hotels. “But we told the investors that the construction has to start in six months, and this happened.”
One such venture was the opening of the Pegasus Reef Hotel at Wattala.
Perera also initiated the creation of special tourism zones in Bentota, Hikkaduwa and several other areas.
After a nearly 15-year stint at the Tourist Board, he formed his own travel company, Sparklink Travels, in 1979 with just 4 employees. “With the rapid expansion of business, and being recognized as an IATA-accredited travel agency, we increased our employee strength and moved into our own four-storey building in Bambalapitiya. We also opened a branch in Australia, he said.
“After the COVID pandemic, we also negotiated with airlines and refunded all passenger tickets purchased and cancelled due to COVID-19, Perera explained.
He recalled the days when people were issued small booklet-type air tickets and how his staff had to visit the airline offices to collect them. Perera added: “The online has changed these and I think this is a time-saving move.
“Unlike two decades ago, online and payment gateways have enabled people to book their own air tickets from home and we too have changed our strategies to find new businesses.”
Today, Sparklink Travels continues with his son Praki Perera, heading the company’s operations in Sri Lanka and Australia.
Their dedication ensures that the company remains a premier provider of air travel, cruises and tours, with professional services tailored to enhance the true essence of travel.
Perera, who has been a pioneering force in Sri Lanka’s tourism sector, was also honored as a ‘Tourism Legend’ at the annual industry awards.
By Hiran H. Senewiratne
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