Business
Releasing of State Bank funds to purchase paddy left in limbo
Agriculture Ministry Secretary keeping his fingers crossed until next Board Meeting at BOC
Farmers say private rice-millers buy paddy at lower prices and sell rice at higher prices
by Sanath Nanayakkare
M.B. Rohana Pushpakumara, Secretary to the Ministry of Agriculture told the media on Saturday that the Cabinet had approved a bank facility of Rs. 2000 million from State Banks to purchase Yala Season’s paddy harvest from the farmers, which decision had been subsequently informed to the Banks by the Ministry of Finance, but nevertheless these funds have still not been released to the Paddy Marketing Board (PMB).
“The Cabinet of ministers had given the approval to get a credit facility of Rs. 2,000 million from the Bank of Ceylon and the People’s Bank to purchase the paddy harvest of the Yala season. Accordingly, the Finance Ministry had informed the Banks to release these funds to the PMB. In this backdrop, we started purchasing paddy from farmers immediately, assuming that we would get those funds. But we have still not received Cabinet-approved funds from the Banks, “he said.
“After the directives, we bought paddy to the value of Rs. 850 which was actually bought on credit. Over the past few weeks, we settled 90% of these credit purchases with funds of the PMB. However, we continue to negotiate with the Bank of Ceylon (BOC) to obtain the credit facility soon. What we hear by today is that the BOC is going to hold a Board Meeting by 2nd October, and a decision would be made at it to release the funds. If that happens, we can resume purchasing of paddy which has come to a halt due to lack of funds,” he said.
Meanwhile, farmers told the media that although harvesting of Yala Season’s paddy has started, the government warehouses are not purchasing their yield, and therefore, farmers can’t sell their yield at a competitive price.
“Government’s paddy purchasing centres must be opened as quickly as possible to prevent private rice millers from buying paddy from us at low prices,” they said.
” If we can sell a kilo of paddy at Rs. 150, that will be sufficient for us to cover our expenses and have a fair profit margin. But now we are compelled to sell at Rs. 96-110. That is not enough to cover even the cost of production. A big warehouse in Polonnaruwa has put up a sign as a ‘paddy purchasing centre’, but it remains closed. If the government starts purchasing paddy, then only private millers will start offering competitive prices. What happens now is they buy paddy at lower prices and sell rice at a higher price. If they buy low and sell low, that’s fine. But they are doing it the other way round.”
A farmer association told the media that this situation could lead to a hunger crisis. They, however, said that officials at the Ministry of Agriculture pledged to resolve the issue within a month’s time. They warned that if a solution is not found to the issue within the timeline, farmers and all the people that consume rice as their staple food would take to the streets to launch an Aragalaya.
However, credible news reports earlier this month said that the government was going to mortgage its paddy stocks to state-run banks to obtain required cash to make purchases from farmers in the current season. The move came after the state-run banks declared they were not in a position to extend loans to the state-run PMB to buy paddy as the debt on previous loans amounting to nearly Rs. two billion was still outstanding.
Business
Ogilvy Group tops award tally at Dragons of Sri Lanka 2026
Nine awards, including two Golds, across disciplines recognise business-driven creativity
Ogilvy Group Sri Lanka delivered a standout performance at the recently concluded Dragons of Sri Lanka 2026 Awards, securing a total of nine awards comprising two Gold Dragons, one Silver Dragon and six Black Dragons, among the festival’s highest overall award tallies, a company news release said.
Gold Dragon wins for Phoenix Ogilvy and Ogilvy Digital, together with the seven additional recognitions across multiple categories, highlighted Ogilvy’s ability to combine creativity, strategic thinking and commercial effectiveness to deliver business results.
Organised by the 4As Sri Lanka, the third edition of Dragons of Sri Lanka shortlisted more than 50 agencies and corporates, making it one of the country’s most competitive marketing communications awards. These local awards, along with the chapters in Malaysia and Pakistan are part of the Dragons of Asia platform, one of the region’s leading programmes for marketing communications effectiveness, with entries being judged on strategy, originality, execution and measurable results.
Ogilvy Digital accounted for eight awards in total, including a Gold Dragon in the Business & Trade Marketing category, and a Silver Dragon in the Innovative Idea or Concept category. The Agency additionally received six Black Dragons across the categories of Innovative Idea or Concept, Business & Trade Marketing, Content Creation, Small Budget, Event or Experiential, and Brand Trial or Sales Generation.
Commenting on the achievement, Sajith Weerasinghe, Chief Operating Officer of Ogilvy Digital, said, “These recognitions reflect the breadth of capabilities we’ve built across strategy, creative, content, experience design, technology and performance marketing. The fact that the work was recognised across so many different disciplines demonstrates our ability to apply creativity to a wide range of business challenges and objectives. We’re proud that this achievement spans multiple clients, categories and types of work, reflecting both the versatility of our people and our commitment to delivering results.”
The Ogilvy Group’s second Gold Dragon win was Phoenix Ogilvy’s recognition in the Product Launch or Re-Launch category for the relaunch of American Premium Water. It was a multi-dimensional campaign which refreshed the identity and rejuvenated the positioning of one of Sri Lanka’s pioneering bottled drinking water brands, bolstering its 30-year heritage while connecting with a new generation of consumers.
Commenting on the win, Siddhartha Roy, Chief Operating Officer at Phoenix Ogilvy, said, “There’s always something special about reimagining a brand with a rich heritage. American Premium Water has been a trusted name in Sri Lanka for more than three decades, but the challenge was to make it relevant and compelling for a new generation of consumers. We created a new blueprint for growth for the brand’s positioning, proposition and visual identity, and manifested it through design, packaging and storytelling. To see that transformation recognised with a Gold Dragon, and more importantly reflected in the brand’s renewed momentum in the market, makes this a particularly rewarding achievement.”
The Ogilvy Group Sri Lanka operates across multiple marketing communication disciplines and comprises over 290 staff in creative, strategy, digital, media, public relations and integrated communications. As part of the global Ogilvy network, the Group partners with leading local and international brands to create integrated campaigns that build brands, influence behaviour and drive business growth.
Business
Musical tribute to Fr. Marcelline Jayakody held in California
A musical tribute celebrating the life and legacy of Rev. Fr. Marcelline Jayakody, OMI, renowned for his contribution to Sri Lankan arts, music, culture and religious harmony, was held in California with the participation of a large gathering of Sri Lankans.
Titled “Sri Lanka Rani Maniye,” the event was organised by the Sri Lankan Catholic Community in California (SLCCC) under the guidance of Rev. Fr. Rashmi M. Fernando, S.J.
The programme honoured Fr. Jayakody, affectionately known as “Pansale Piyathuma” (The Priest of the Temple), for his efforts to promote Buddhist-Catholic understanding, interfaith dialogue and a shared Sri Lankan identity.
The event brought together members of the Maha Sangha, the Consul General of Sri Lanka in Los Angeles, musicians, singers, donors, parents, children and members of the Sri Lankan community from Los Angeles and other parts of Southern California.
Music, song and Sri Lankan cultural traditions featured prominently, with organisers placing particular emphasis on introducing the country’s artistic and cultural heritage to younger generations of Sri Lankans growing up overseas.
The programme also highlighted the importance of community unity, religious harmony and mutual respect among Sri Lankans living abroad.
Rev. Fr. Fernando told the gathering that the event marked only the beginning of efforts that could achieve more through unity “for the pride and greater good of our motherland, Sri Lanka.”
The organisers thanked the performers, volunteers, donors and well-wishers who contributed to the event, which concluded as a celebration of Fr. Jayakody’s enduring cultural legacy and the Sri Lankan diaspora’s continuing connection with its homeland.
Business
Hayleys Fentons completes Rs. 1 bn manufacturing facility in Wathupitiwala
Hayleys Fentons Limited has completed construction of a state-of-the-art manufacturing facility for Shield Restraint Systems (Pvt) Ltd at the Wathupitiwala Export Processing Zone, with the project completed on schedule within approximately 14 months.
The project, valued at more than Rs. 1 billion, commenced with the laying of the foundation stone on January 7, 2025. It was undertaken by the project arm of Hayleys Fentons, with Design Consortium International (Pvt) Ltd serving as the principal design consultant.
The facility has been designed to meet international industry standards and incorporates advanced safety and energy-efficiency features. A pre-engineered building structural system was used to facilitate faster construction and optimise project costs.
The new facility will manufacture safety restraint systems for the international automotive industry through Shield Restraint Systems.
Hayleys Fentons Deputy Managing Director – Projects Sujith De Alwis said the timely completion of the project demonstrated the company’s engineering and project management capabilities and the ability of Sri Lankan construction expertise to meet stringent international standards.
Hayleys Mobility Executive Director Roshani Dharmaratne said the project required detailed planning, quality management and coordination across multiple disciplines.

Sujith De Alwis, Deputy Managing Director – Projects of Hayleys Fentons Limited and Roshani Dharmaratne, Executive Director of Hayleys Mobility Limited
Chairman Design Consortium Migara Alwis said the project further strengthens its portfolio in specialised industrial construction and supports investment linked to Sri Lanka’s participation in the global automotive supply chain.
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