Business
Retailers’ Association calls for support to navigate demanding times
Sri Lanka Retailers’ Association (SLRA) has issued a clarion call for support towards the industry and for a consultative approach when taking national lockdown decisions – especially at short notice, as the sector has witnessed mounting multi-million-rupee losses overnight due to ad-hoc measures. While positively endorsing the government’s drive to curb the COVID spread and assuring of their ongoing support, SLRA stresses that implementation of COVID controls should not affect the continuity of the retail sector.
SLRA is a dominant grouping in Sri Lanka’s Organised Retail Sector (ORS), consisting of last mile retailers such as the FMCG vendors, supermarkets, clothing, fashion & jewelry, household & consumer durables, footwear & accessories, e-commerce, healthcare & wellness, entertainment, restaurants and fast-food sellers, and shelter & housing providers.
ORS plays a significant role as a collective voice within the Sri Lankan market, SMEs and employment provision. It accounts for around one-third of the GDP and over 15% of employment in the country. Vibrant retail is an essential part in the robustness of the Sri Lankan economy since the retail sector value chains’ trickle-down effects extend to the very grassroots of the supply chains such as farmers, livestock breeders and SME suppliers.
During a virtual webinar organized by the Sri Lanka Retailers’ Association on June 25th, representatives of SLRA firmly stated that the ORS is not a mere sub sector but an entire ecosystem of its own in the country, spreading out to multiple streams of sub economic strata, thus impacting on the very foundations of the country’s socio-economic makeup.
Hussain Sadique, Founder / President of SLRA emphasized on the importance of retail ecosystem’s functioning. “Modern retail has come to stay in Sri Lanka. The retail industry contributes billions to the Sri Lankan economy and supports nearly one million direct jobs and many more indirectly. This sector is a major system for Sri Lanka’s youth employment and helps addressing the burden of youth unemployment. It is also a key industry on the frontline of the COVID-19 crisis. The ORS shoulders the last mile delivery burden of essentials and food during the lockdown. ORS’ economic significance is not only being the closest touchpoint system to Sri Lankan customers but also its impact in B2B levels. Annually ORS invests multi-billion-rupees for new infrastructure and pays significant property rental fees for premium high-street retail space that become a major revenue of the Sri Lankan real estate business.
Therefore, this is the time that the support of the government to ORS is to be channeled. By investing to preserve this sector now, far worse social consequences would be prevented later on”, he stated.
“We are collectively calling for support measures that will enable the ORS to weather the worst of the crisis and be in a position to make a meaningful contribution towards economic recovery. The lockdowns implemented without consulting ORS has a very negative impact on it. No other country closes retail systems and supermarkets during a COVID lockdown but implement them along with controls such as self-distancing. Due to non-consulted lockdown announcements, perishable stocks in ORS are destroyed overnight with multi-million-rupee losses and affecting the suppliers while retailers’ staff retention and turnover too has become very problematic. Demand in retail sub sectors such as ‘consumer durables’ has increased since more consumers are now staying at or working from home and lack of consultation with ORS in lockdowns hampers their deliveries too. Therefore, keeping consumer durables outlets open is vital for the customers as well. All these would operate much better if there are wider consultations with ORS”, Sadique further added.
Senior business leaders, economists and international development experts, alongside the Prime Minister of Sri Lanka, will headline the Sri Lanka Economic & Investment Summit 2026, organised by The Ceylon Chamber of Commerce on 12 and 13 October at the Shangri-La Colombo.
The Summit will open with a keynote address by T. Krishnakumar, Chief Executive Officer, Reliance Consumer Products Ltd, who brings more than four decades of experience in the consumer brands and FMCG sectors. Having previously served as President of Coca-Cola India and Southwest Asia, with extensive experience in building businesses and driving growth across emerging markets, Krishnakumar, more popularly known as Kk, now leads Reliance Consumer Products as it expands across categories and builds new customer, partnership and market opportunities.
Day 2 will bring together four international perspectives across discussions on economic resilience, regional connectivity, sector growth and digital transformation.
Lilia Aleksanyan, Senior Country Economist for Sri Lanka at the Asian Development Bank, will open the day’s discussions with a focus on Sri Lanka’s economic resilience. Her work covers the country’s macroeconomic outlook, policy advice and macro-fiscal and financial-sector reform. Her international policy experience also includes roles at the French Ministry of Finance and the French Central Bank.
The Summit will then turn to Sri Lanka’s connections with regional markets, with P. D. Singh, Chief Executive Officer, India & South Asia, Standard Chartered Bank, delivering the keynote for the session on trade corridors and value chains. Singh counts close to three decades of experience in banking and finance, with senior leadership roles spanning Standard Chartered, JPMorgan Chase Bank and HSBC.
The Sector Deep Dives will bring international perspectives to discussions on healthcare and energy.
Tushar Shroff, Chief Financial Officer, Zydus Lifesciences Ltd, will deliver the keynote for the healthcare discussion, drawing on more than three decades of experience in corporate finance, strategic investment and financial transformation. His career spans senior finance and leadership roles with ABB, Piramal Healthcare, Intas Pharmaceuticals and Vedanta Group, giving him a broad perspective on the business and investment decisions shaping the healthcare sector.
For the energy-focused deep dive, Edore Onomakpome, Regional Infrastructure Industry Manager for Bangladesh, Sri Lanka and Nepal at the International Finance Corporation, will bring extensive experience in infrastructure investment and project finance across emerging markets. Since joining IFC in 2013, she has held senior roles across Africa and South Asia, including managing IFC’s infrastructure portfolio across 16 countries.
The Summit will conclude its keynote programme with Prime Minister Dr. Harini Amarasuriya, who will deliver the keynote for “Nation Building in the Digital Age.” The Prime Minister also oversees the Ministry of Education, Higher Education and Vocational Education, bringing a direct policy perspective to discussions on digital transformation, innovation, education and the skills needed for a changing economy.
Together, these perspectives will bring regional, international and policy insight to SLEIS 2026 as Sri Lanka considers how to strengthen economic resilience, attract investment, deepen regional connections and develop new sources of growth.
Held under the theme “Positioning Sri Lanka in a Changing Global Economy: Resilience, Reform, and the Future of Economic Policy,” SLEIS 2026 will take place on 12 and 13 October 2026 at the Shangri-La Colombo.
The Sri Lanka Economic & Investment Summit 2026 is supported by its valued sponsors and partners. Platinum Sponsor – Standard Chartered Bank Sri Lanka, Gold Sponsor – VISA Worldwide (Pvt) Ltd., Bronze Sponsor – South Asia Gateway Terminals (Pvt) Ltd., Strategic Development Partner – Asian Development Bank, Telecommunication Partner – Dialog Telecommunication, Television Partner – Dialog Television, Session Sponsors – David Pieris Motor Company (Pvt) Ltd., Hemas Holdings PLC, Sunshine Holdings PLC, International Construction Consortium (Pvt) Ltd., Microsoft Sri Lanka (Pvt) Limited, Official Logistics Partner – Hayleys Advantis Limited, Official Airline – SriLankan Airlines Ltd., Official Hospitality Partner – Shangri-La Colombo, Airline Partner – China Eastern Air Holding Co. Ltd.
Registrations for SLEIS 2026 are now closed. The Ceylon Chamber looks forward to welcoming participants to the discussions on Sri Lanka’s future trajectory on 12 and 13 October.
Commercial Bank of Ceylon has launched ‘Prestige’, a three-tier banking proposition aimed at high-net-worth (HNW) clients, combining wealth management, advisory services and lifestyle benefits.
The initiative replaces the bank’s existing ‘Elite’ private banking brand with Ruby, Sapphire and Diamond tiers, designed to cater to customers according to their wealth profiles and banking relationships.
The bank said Prestige would provide dedicated relationship managers, priority branch services, preferential rates on loans and deposits, enhanced card privileges, family banking programmes and offshore account solutions.
Its wealth and investment management services include access to capital-protected income solutions, dual-currency investments, institutional deals and estate and portfolio governance.
Clients will also have access to specialist financial and corporate advisory services, including assistance with international relocation, overseas property and capital repatriation.
The programme includes lifestyle benefits such as VIP airport lounge access, travel concierge services, property management and medical coordination, as well as access to selected art and culinary events.
The bank said its flagship Prestige banking residence at R.G. Senanayake Mawatha, Colombo 07, had been refurbished, with the service to be extended to other economically important cities.
Commercial Bank Managing Director/CEO Sanath Manatunge said Prestige was intended to support customers in managing their wealth, business interests, family needs and long-term legacy.
Existing Elite clients are being transitioned to the new programme, the bank said.
Ceylinco Life has rewarded 80 members of its sales force with overseas tours to Vietnam and China for their outstanding performance in the company’s 2025 sales competitions.
The group comprised 62 sales achievers who travelled to Vietnam and 18 who visited China.
The Vietnam tour included visits to Hanoi’s Ho Chi Minh Complex, One Pillar Pagoda, Tran Quoc Pagoda and Hoan Kiem Lake. The group also travelled to Ha Long Bay, where they went on an Aurora Cruise and explored attractions including Sung Sot Cave, Luun Cave and Titop Island.
The tour also featured a sunset party aboard the cruise, with music and refreshments.
The 18 achievers who travelled to China visited several of Beijing’s major historical and cultural attractions, including Tiananmen Square, the Forbidden City and the Summer Palace. They also took a boat ride on Kunming Lake.
A highlight of the China tour was a visit to the Mutianyu section of the Great Wall, including a round-trip cable car ride. The group also attended an acrobatic show at Chaoyang Theatre and visited the Panda Garden at Beijing Zoo.
The company said the tours were organised to recognise and reward sales personnel for their performance and achievements.
Showers above 75 mm are likely at some places in the Western, Sabaragamuwa, Central, Uva and North-Western provinces and in Galle, Matara, Anuradhapura and Mannar districts.
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