News
PSPI emerge victorious in Agriculture Value Added Sector at the NCE Export Awards 2020
Pulses Splitting and Processing Industry Pvt Ltd (PSPI), a leading grains and pulses splitter and processor in Sri Lanka, emerged winner at the recent 28th Annual NCE Export Awards 2020, taking home the Bronze award under the ‘Extra-Large Category’ for Agriculture Value Added Sector.
Conducted by the National Chamber of Exporters of Sri Lanka (NCE), the awards ceremony was held at Shangri-La Hotel, Colombo, recently under the theme ‘Resilient Exporters’, to recognize and celebrate some of the best exporters in the country who have successfully endured and managed their businesses during the global pandemic.
PSPI has grown to be one of the largest exporters and the only BOI-approved company in the pulses industry in Sri Lanka. It has ambitious plans to make its mark in the whole Asian region. The products are manufactured in its state-of-the-art factory, spanning over 163,000 square foot and equipped with nine production lines with a daily production capacity of over 400 MT.
Commenting on the achievement, Muddassir Mahmud, Director, Pulses Splitting and Processing Industry Private Limited, said: “We take great pride in being recognized as one of the biggest exporters in the pulses industry. This award is a tribute to all of our people for their tireless efforts and their well-commendable attitude to be resilient and optimistic”.
“We are ambitious to take PSPI to greater heights to be one of the most preferred grains and pulses splitter and processor in Asia”, he added.
The company’s Sapugaskanda-based factory is equipped with cutting-edge technology such as advanced CCD digital cameras, fully automatic color sorter machines, ‘Starlinger Technology’ packaging machinery amongst others in line with international standards.
PSPI also recently expanded to supply consumer packaging, adding three new FFS machines to supply customers with private-label packaging ranging between 500g to 5kg. Specializing in splitting and processing operations in whole red lentils, PSPI has its own brands of red split lentils. Its brands ‘Trophy’ as well as ‘Leaf’ continue to be one of the most preferred choices in the domestic market.
PSPI imports raw materials from Australia, Canada and Myanmar. Its factory has eleven in-built silos, and all its raw materials and finished products are stored and preserved under stringent hygienic conditions.
Since its inception in 2007, PSPI has earned a distinctive reputation for its world-class splitting and processing operations, with the widest range of grains and pulses variety in Sri Lanka. PSPI is no stranger to the awards, having being named a winner at the NCE Export Awards in 2013, 2015, 2016, and 2017.
As per the provisions of section 51 of the Public Finance Managaement Act No. 44 of 2024, the public should be issued with a report on the final budgetary situation for each year and, the report is then published in the official website of the Ministry of Finance, Planning and Economic Development.
Thereby the report has to be submitted to the Parliament. The final budgetary situation report (Annual Report) – 2025 has been prepared by the Ministry of Finance, Planning and Economic Development and published. The report contains the Public Finance Policy, strategies and challenges, economic trends in 2025, macro – economic and socio – economic indicators covering all sectors of the economy as well as description on the global economic growth.
Furthermore, it accompanies a detailed description government revenue and expenditure, cash flow management, financing the budget deficit and the loan structure.
Accordingly, the Cabinet of Ministers approved the resolution furnished by the President in his capacity as the Minister of Finance, Planning and Economic Development to submit the Report on the Final Budgetary Condition (Annual Report) – 2025 to Parliament.
Business
Cabinet nod to accept increased Loan Grant provided by the Asian Development Bank under Policy Based Loan Facilities – 2026
Approval of the Cabinet of Ministers was granted at their meeting held on 16.03.2026 to obtain United States Dollars 380 million from the policy – based loan facilities of the Asian Development Bank in the year 2026.
United States Dollars 100 million out of it is allocated for Trade, Investment and Industries Development Programme – Sub Programme 1. However, amidst the economic uncertainty resulting from the current Middle East crisis and the climatic tragedies, the Asian Development Bank has agreed to assist
by increasing a supplementary financing package of United States Dollars 100 million so that it will beMincreased up to United States Dollars 200 million.
Accordingly, the Cabinet of Ministers approved the resolution furnished by the President in his capacity as the Minister of Finance, Planning and Economic Development to take further measures to obtain the said loan grant.
News
Submission of Revenue Protection Order Prepared under the Provisions of the Revenue Protection Act No. 19 of 1962 to the Parliament for its approval.
Approval of the Cabinet of Ministers was given at the meeting held on 23.02.2026 to impose the custom import duty amounts under four (04) categories as 0%, 10%, 20%, and 30% which had been executed only under three (03) categories in order to increase the target export income of the country, to execute the
recommendations of the national customs duty policies committee, and to implement new national sub division customs codes for promoting the local agricultural and industrial sector.
Imposing provisions in relation to the above, the Revenue Protection Order – No. 01/2026 under the Revenue Protection Act No. 19 of 1962 has been published in the extraordinary gazette notification No. 2478/03 of 03.03.2026.
Accordingly, the Cabinet of Ministers approved the resolution furnished by the President in his capacity as the Minister of Finance, Planning and Economic Development to submit the said revenue protection order to Parliament for its concurrence.
Report on the Final Budgetary Condition (Annual Report) – 2025 submited to parliament
Cabinet nod to accept increased Loan Grant provided by the Asian Development Bank under Policy Based Loan Facilities – 2026
Submission of Revenue Protection Order Prepared under the Provisions of the Revenue Protection Act No. 19 of 1962 to the Parliament for its approval.
Resettlement of unauthorized settlers affected by the Land Acquisition process for the implementation of Phase III of the Baseline Road Extension Project
Cabinet approves project to modernize school hostel facilities during the 2026–2028 period at an estimated cost of Rs. 1,008 million
New National Action Plan for Human-Elephant Conflict Management to be drafted
‘Dates have the highest sugar content to fight Coronavirus’
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