Business

President urges those outside of parliament to help build a new social and economic consensus

Published

4 years ago

2022/08/8

By Sanath Nanayakkare

Our task is to identify and implement the reforms that have a higher impact on social and economic dimensions while at the same time investing in our people, education, technology and bridging the gap between the haves and have-nots, for which we need those outside of parliament to bring their influence to bear on those who take decisions in parliament, President Ranil Wickramasinghe said on Friday.

“To achieve this end, the government will set aside additional funding and the private sector will also need to contribute to it via higher taxation, higher productivity, penetrating into niche markets and adopting highly competitive export-oriented business models that run on higher wages, to ensure upward social mobility across all segments of the society,” he said.

He made these remarks while speaking as chief guest at the ‘Let’s Reset Sri Lanka’ forum hosted by Advocata Institute.The two-day fireside chat by Advocata featured lessons from Thailand’s reform experience after the Asian Financial crisis in 1997 with insights from Dr. Veerathai Santiprabhop, former governor of the Bank of Thailand and a number of panelists who are experts on privatization, social safety nets, debt crises, structural adjustment, trade policies, labour market, robust resolution framework for resuscitation of businesses, unlocking land for development etc.

Further speaking the President said: During the financial crisis of Thailand in 1997which was called the Tom Yam Kung crisis; IMF came forward to help it recover from it. During the Global Financial Crisis of 2008-2009, it was again the IMF that stepped in. Whether we like it or not, Sri Lanka needs the support of the IMF at this juncture. Now this is an issue the whole parliament has to consider. If any member of parliament or any political party says we are not in favour of it, then we have a right to ask what their proposed solution is. When we are negotiating with the IMF one of the biggest issues that we face is that when a government changes in Sri Lanka its policies also change. So the main issue is not the substance of the negotiations but whether we are prepared to abide by an agreement as a country. If you are not prepared to do that, then the parliament has to be accountable for its consequences. That’s very clear. One can’t say one is in favour of part of the IMF programme and not with the balance part. This is a matter relevant not only for members of parliament but also for all those outside of parliament. You must also bring your influence to bear on those who take decisions in parliament at this critical hour.”

“We know the path we have to take. And in doing so, we should be able to ensure the sustainability of our foreign debt, our domestic debt and we should also be able to navigate the crisis without getting caught in geo-politics of Asia. The period ahead is certainly going to be a difficult one. Bur we all have to go through it. If anyone has a better formula or proposals that will make things easier, then we are willing to hear it and the parliament can decide between the two sets of proposals. Otherwise there is no other way but to bite the bullet.”

“While taking measures to stabilize the economy, we must prioritize the socio-economic dimension of the crisis. We have over six million people who are under malnourishment and unemployment has affected a large number of people. So we have to consider the social and economic dimensions of the reforms and the restructuring that we are going to undertake. We already see the impact of the shortage of fuel on the economy and high inflation which spilled over into the political and social fronts. Now we are slowly getting back to some stability. We can’t afford to face a second incident. I don’t think we can stand that strain again. So while looking at the economic side of it, we need to look at the social side of it as well. For me, that’s the most important part of the restructuring. How are the people affected and how are we going to cushion it? Even with the IMF, there is an agreement that the vulnerable groups have to be looked after. But we have to find the resources for this. This is easier said than done. That’s the path I’d like to see the whole community engage in.”

” The main instrument for social mobility is good education. Full education has not functioned for the last 2-3 years in the country as a consequence of the pandemic and the shortage of fuel. As a result, the main instrument for upward social mobility is now broken. We have to restore it. We must also reduce the gap between the haves and have nots. This also means that we will have to have higher taxation, even taxation on wealth. We have to resort to these measures firstly for economic recovery and secondly for social justice. We must realize that the time we spend on stabilizing the economy is also the time we have to use for reforms; to change the laws, to change the system and to change our institutions. I think this should take about a year.”

“Apart from the government’s role in these affairs, the business community also has to think anew. When you see the growth of Indian, Bangladesh and Pakistan economies, their l logistics sector has made a key contribution. With our strategic location, our logistics sector should be able to perform better in Colombo, Hambantota and in Trincomalee. Secondly, we should keep faith in renewable energy. I think we have to serious about getting a report on the potential of producing nuclear energy in Sri Lanka. The more energy you have, the more you can sell it to India and also put it to good use domestically.’

‘We have to survive as a nation. We have to become a middle income economy and then to higher income economy. We have to modernize our agriculture and fisheries for sustainability. And all those transformations need to be environment-friendly. Also, women in Sri Lanka that accounts for more than half of our population need to be more productively integrated into the economy.’

“We need a social market economy today. Just as much as one makes money and make bigger profits, there must be more money available to improve these sectors. The housing needs must be met in the next 15-20 years. Rural areas need to get rid of poverty. As we are a small country, we can do these. A highly competitive economy doesn’t run on low wages. It runs on higher wages and higher productivity. We need to create that environment.”

“We have to look beyond South Asia for regional economic integration as South Asia is beset with politics. We need to explore opportunities in ASEAN as it is a big, growing market where income levels are much higher. Later on we can look at Africa; East Africa especially. In the meantime we need to maintain our strong economic relationship with Europe and the U.K. The U.S. is undergoing changes and I think that will create benefit for us too.”

With globalization came in the view that ‘greed is good’. I don’t think that it is the order of the day any more. The Colombo Stock exchange (CSE) today is identified not with London Stock Exchange. There are many concerns about the Stock Exchange about it being controlled by a few people. I can’t list shares of SOEs on the Stock Exchange and help a few people. If public entities are to be listed on CSE, we must all be satisfied that it is neutral and it benefits all. Either the Stock Exchange must broad base or a new institution will have to be established.”

“The global situation next year is not going to favourable to anyone. Year 2024 will turn out to be better. In the meantime we need to put necessary reforms and restructuring in place. Due to the crisis, all are suffering. The lower end of the income curve suffers the most. There have to be meaningful changes. There has to be rise in income. Education facilities need to be enhanced to ensure upward social mobility for all. At the end of the day, our people must feel that their suffering has not been in vain. The young wants a new system. So let’s undertake a review of all things in the past and work together to reconstruct the future of our people,”

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Business

Mahindra Ideal Motors celebrates gala ‘Excellence Awards’ honouring outstanding performance and innovation

Published

23 hours ago

2026/03/29

Thilina Walpola

The Mahindra Ideal Motors Excellence Awards ceremony, a grand celebration to recognize dealers and other stakeholders of Ideal Motors, was held at the Wave n’ Lake Banquet Hall & Restaurant in Welisara recently.

The event was graced by the presence of special guests including Nalin Welgama, Founder and Chairman Ideal Motors, Dilani Yatawaka, Group Managing Director/CEO Ideal Motors, Nimisha Welgama, Director Legal and Corporate Affairs Ideal Motor, Sachin Arolka, Head International Operations, Auto Division Mahindra & Mahindra India. Senthil Selvaraju, Head International Operations and Customer Service Automotive Division Mahindra & Mahindra India, Sujeeth Jayant, Country Head Mahindra & Mahindra India and Shitam Kundu, Head Domestic Services Mahindra & Mahindra India.

Also, in attendance from Ideal Motors were Kasun Fernando, General Manager Commercial Vehicle Sales Division, Sameera Bamunuarachchi, Deputy General Manager Spare Parts, Logistics & Inventory and Prasanna Manamperi, Deputy General Manager After Seles Service.

Speaking at the event, Nalin Welgama Ideal Motors Founder and Chairman said, “When we began our journey with Mahindra in 2009, the previous company had sold 300 vehicles in the country, of which nearly 150 had various defects. At that time our journey began by engaging with the parent company in India and repairing those vehicles free of charge. That commitment has brought us to where we are today. As we believe, our journey truly begins after the sale. We are dedicated to strengthening our customers, and in doing so, strengthening ourselves. That is how we transformed the after-sales service experience.”

He added, “Our main strength is the Mahindra Bolero, which has sold more than 10,000 units in just two years. In a very short period, we grew from zero to over 100,000 vehicles sold. This is not my victory, but the victory of all of you who contributed to it. Despite the challenges of the COVID-19 pandemic and the economic crisis we faced, this awards ceremony was organized to express our gratitude to all of you who trusted our institution and stood by us. Let us continue our victorious journey together.”

Dilani Yatawaka, Group Managing Director Ideal Motors, said: “Today is a very happy day for us. This is the first time in history of the organisation, that representatives of our vehicles, spare parts, services, and financial institutions are meeting together under one roof.”

Speaking on the occasion, Sachin Arolka, Head International Operations, Auto Division Mahindra & Mahindra India, stated that Ideal Motors in Sri Lanka is one of the largest seller of Mahindra vehicles in Asia.

More than 300 dealers and finance partners participated in the event which concluded with dinner, fellowship and entertainment.

Business

Police engagement supports wildlife protection in hill country

Published

23 hours ago

2026/03/29

Thilina Walpola

Strengthening conservation through active law enforcement

An awareness and capacity-building program on wildlife crime prevention, with a special focus on the Sri Lankan leopard (Panthera pardus kotiya), was successfully conducted on March 20 at the Dimbula Athletics & Cricket Club, Radella.

The session was organized under the ongoing Multi-Regional Leopard Research and Conservation Project implemented by the Wildlife & Nature Protection Society (WNPS), in collaboration with LOLC. It brought together senior officers representing 28 Police stations across the Nuwara Eliya and Kandy districts, underscoring the growing importance of law enforcement in conservation efforts within multi-use landscapes, a WNPS news release said.

The Central Highlands present a unique conservation challenge, where increasing habitat loss and fragmentation, depletion of natural prey, and use of snares continue to threaten leopards inhabiting these landscapes majority outside formally protected areas. The session therefore focused on strengthening the capacity of Police officers to identify, prevent, and respond to wildlife crimes, while fostering closer coordination with conservation stakeholders, it explained.

Co-Chair of the Wildcats Subcommittee, Prof. Enoka Kudavidanage, highlighted the ecological and economic significance of leopards as apex predators, emphasizing their role in maintaining ecosystem balance and supporting nature-based tourism. She also outlined the current conservation challenges in the Hill Country and presented ongoing interventions under the WNPS–LOLC project.

Dr. Sanjaya Weerakody, Postdoctoral Fellow at the Xishuangbanna Tropical Botanical Garden (XTBG), Chinese Academy of Sciences, shared key research findings on leopard mortality trends over the past 17 years revealing concerning patterns, including the disproportionate loss of mature male individuals and the increasing prevalence of snaring as a primary cause of death highlighting an urgent need for targeted enforcement.

Attorney – at – Law Charaka Jayaratne provided an in-depth overview of the legal provisions under the Fauna and Flora Protection Ordinance, with particular attention to offences related to snaring. He discussed how Police can take more proactive and effective action, identifying gaps in current approaches and suggesting practical measures to strengthen enforcement outcomes.

Adding further perspective, Samantha Gunasekara, former Deputy Director of Customs and Chairman of the Marine Environment Protection Authority (MEPA), spoke on the broader context of illegal wildlife trade in Sri Lanka. Drawing from past cases and recent observations, he highlighted emerging trends and risks associated with wildlife trafficking.

Representing the Department of Wildlife Conservation, Ranger Srinath Dissanayake of the Hakgala Wildlife Range shared recent cases on leopard deaths and rescue operations recorded in 2025. He emphasized on personal observations, importance of timely intervention, and strong collaboration between field officers and the Police to mitigate human–wildlife conflict and prevent avoidable losses.

An interactive discussion followed, allowing officers to raise questions, clarify procedures, and exchange experiences while sharing their feedback as well. This dialogue contributed to reinforcing the value of strategic engagement between the Police, the Department of Wildlife Conservation, and conservation partners while strengthening inter-agency understanding and highlighting the need for coordinated responses during leopard-related incidents.

The session commenced with opening remarks by WNPS President Graham Marshall, who expressed appreciation for the participation of the Sri Lanka Police and reiterated the critical role of law enforcement in safeguarding biodiversity beyond protected areas.

WNPS Past President and WNPS LOLC Project Head Spencer Manuelpillai, Project Coordinator Gihani Hettiarachchi, Regional Center Coordinators, Thilanka Dissanayake and Attorney-at-Law Malaka Palliyaguruge were also present as part of the WNPS team.

WNPS extends its sincere appreciation to all officers who participated for their commitment and active engagement. Supported by LOLC, these initiatives form part of a broader effort to strengthen practical conservation through collaboration, knowledge sharing, and effective enforcement in Sri Lanka’s Hill Country.

Business

Mangala Tex marks expansion with new Kurunegala Branch

Published

23 hours ago

2026/03/29

Thilina Walpola

Fashion retail leader Mangala Tex celebrated the grand opening of its newest branch in Kurunegala on Saturday, March 14, 2026, adding a vibrant new dimension to the city’s commercial landscape.

Since its inception, Mangala Tex has been synonymous with style, durability, and quality, earning a lasting reputation as a premier clothing retailer. Guided by the visionary leadership of Chairman Ronald Nimal Hope, the brand has successfully established a strong presence with thriving outlets in Yatinuwara Veediya, Kandy, Cross Street, Kandy, and Peradeniya, Kandy.

The Kurunegala expansion marks a significant milestone in the company’s growth, bringing its signature fashion offerings closer to a wider customer base. True to its slogan, “Let Your Clothing Do The Talking,” the new store features an extensive range of apparel catering to all age groups, blending contemporary style with durable, high-quality fabrics.

Shoppers at the Kurunegala branch are greeted by a welcoming atmosphere and attentive staff, which long-time customers cite as key reasons for their loyalty. The store’s combination of trendy designs, reliable quality, and customer-centric service continues to set it apart in Sri Lanka’s competitive fashion retail sector.

Mangala Tex now employs more than 120 staff members across its branches, remaining a proudly family-driven enterprise alongside Managing Director Pahan Dissanayaka and Directress M M G P Dissanayaka.

With the official opening in Kurunegala, Mangala Tex demonstrates that consistent quality, style, and service can drive sustained growth, expanding the brand’s reach to new communities while reinforcing its status as a trusted name in Sri Lankan fashion.

Text and Pix by SK Samaranayake