Business

SL’s Livestock Insurance Scheme – a historic first

Published

1 year ago

2025/08/21

Key dignitaries at the launch of the insurance scheme.

In a bold step to address one of Sri Lanka’s most pressing conservation and rural development challenges, the United Nations Development Programme (UNDP), the Wildlife and Nature Protection Society (WNPS) and LOLC Insurance, under the guidance of the Department of Wildlife Conservation (DWC), on Tuesday unveiled the country’s first Livestock Insurance Scheme.

The pioneering initiative provides rapid monetary compensation within 72 hours to farmers who lose livestock to leopard attacks, marking a first in Sri Lanka — and in the wider South Asian region. By cushioning the financial shock for rural communities, the scheme aims to eliminate retaliatory killings of the endangered Sri Lankan leopard (Panthera pardus kotiya), while also securing the economic stability of farming families.

“This programme offers a practical and timely solution to a long-standing challenge in leopard conservation, said Ranjan Marasinghe, Director General of the Department of Wildlife Conservation, speaking at the United Nations compound in Colombo.

He added: “By ensuring affected farmers are compensated swiftly and fairly, we reduce the risk of retaliatory actions and build trust between communities and conservation authorities.”

The Sri Lankan leopard, the island’s only apex predator, plays a crucial role in regulating ecosystems. Yet habitat loss, fragmentation and declining prey populations increasingly force leopards to target livestock, creating tension in rural areas bordering parks such as Yala, Wilpattu, and Horton Plains. For farmers, a single attack can wipe out months of income, often triggering fatal revenge killings of leopards.

Baseline surveys conducted under the Multi-Regional Leopard Research and Conservation Project by WNPS and LOLC revealed frequent livestock predation in buffer zone villages, with many incidents going unreported due to mistrust of authorities. The insurance model was designed directly in response to these findings.

UNDP’s Biodiversity Finance Initiative (BIOFIN) will fund the premium, while LOLC Insurance acts as the provider. When a predation event occurs, affected farmers report it to a designated WNPS officer. DWC officials, together with veterinary and Grama Niladhari officers, verify the claim, after which compensation is released directly to the farmer’s account — typically within 72 hours.

Kithsiri Gunawardena, chairman of LOLC Insurance, described the initiative as a milestone for the private sector: “We are proud to introduce Sri Lanka’s first livestock compensation policy for leopard-related predation. This pioneering initiative reflects our long-term commitment to safeguarding biodiversity while supporting rural livelihoods. By working together, we can create sustainable solutions where both communities and wildlife can thrive.”

The programme also goes beyond financial relief. It promotes preventative measures such as predator-proof night enclosures, communal livestock pens and an innovative ‘Cattle Bank’ system, which allows farmers to receive replacement animals rather than cash. These approaches aim to reduce losses while encouraging coexistence.

Azusa Kubota, UNDP Resident Representative in Sri Lanka, emphasised the wider significance: “Protecting the leopard is not an isolated act of conservation. It is a collective commitment to preserving biodiversity and economic opportunities. If this model succeeds, Sri Lanka can set a global precedent for balancing community needs with wildlife protection.”

Kubota added that UNDP will support a grassroots communication campaign to ensure effective participation of farmers, veterinary officers, and conservation staff.

For BIOFIN, which operates in over 130 countries, Sri Lanka’s scheme is a regional first. Annabelle Trinidad, BIOFIN’s Regional Technical Lead, said: “Insurance is part of a wider nature risk management approach. Today, Sri Lanka sets a benchmark for Asia in addressing human–wildlife conflict through finance solutions.”

The project also builds on WNPS’s 131-year legacy of leading conservation initiatives — from the establishment of Yala and Wilpattu National Parks to current work on species and ecosystem protection.

Spencer Manuelpillai, Project Lead at WNPS, explained: “The need for such a programme emerged through research. Rather than endlessly debating the issue, we chose to act — developing a practical mechanism that addresses a long-standing challenge in leopard conservation while supporting communities who share their landscapes.”

Graham Marshall, President of WNPS, echoed this: “Lasting conservation depends on long-term solutions that benefit both people and wildlife. This compensation programme is rooted in science, partnerships, and trust-building. Experiencing it come to life is a rewarding moment in our society’s history.”

The Sri Lankan Leopard is more than just a conservation priority — it is also a key tourism asset. Thousands of international visitors flock annually to Sri Lanka’s national parks hoping to catch a glimpse of the elusive big cat, generating significant foreign exchange revenue. By reducing leopard killings and promoting coexistence, the insurance scheme indirectly strengthens eco-tourism potential while stabilising rural economies.

As Marshall pointed out, addressing livestock predation is not just about saving a species. “It’s about building lasting harmony between the wild and humans — a model Sri Lanka can lead the world in.”

By Ifham Nizam

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Business

Rs 160 million + diesel discrepancy at Lakvijaya power plant prompts probe

Published

24 hours ago

2026/09/30

Sahan Weerasooriya

The Lakvijaya power plant in Norochcholai.

By Ifham Nizam

A Rs.160 million-plus diesel discrepancy at the Lakvijaya power plant in Norochcholai has triggered an internal investigation, raising questions over the handling of public funds and the controls governing fuel purchased for electricity generation.

The discrepancy surfaced during an internal audit of diesel supplied to the plant from the Kolonnawa and Sapugaskanda fuel terminals, according to senior officials familiar with the inquiry.

The audit has identified five transactions—two in December 2025 and three in January 2026—in which diesel recorded as delivered to the plant allegedly could not be fully accounted for in its physical stocks.

The investigation is now examining whether these were isolated discrepancies or part of a longer-running practice.

One transaction under scrutiny relates to January 16, when records reportedly showed that 10 diesel bowsers had arrived at the plant. Investigators subsequently found indications that the fuel stock corresponded to only nine bowsers.

A storekeeper responsible for the relevant fuel operation has reportedly been temporarily removed from those duties pending the investigation.

A senior official said investigators were reviewing historical records amid indications that similar discrepancies may have occurred over a longer period. If established, the financial exposure could therefore exceed the Rs.160 million currently identified.

The investigation is comparing fuel-terminal dispatch records, tanker movements, plant-entry records, receiving documents and physical stocks to establish exactly how much fuel was dispatched, received and accounted for.

That audit trail will also be critical in determining who authorised, received and certified the disputed consignments, and whether established controls were followed.

Relevant documents were reportedly transferred from Norochcholai to the company’s Colombo head office on September 26 for further examination, with electricity-sector security personnel assisting in the transfer.

The internal audit has also reportedly uncovered expired chemical stocks worth several hundred thousand rupees in the plant’s stores. Investigators are examining whether further inventory-management irregularities occurred.

The matter was also reportedly taken to the Puttalam Police Special Crimes Investigation Unit on September 26.

When contacted by Puttalam-based journalist Hiran Priyankara Jayasinghe for The Island Financial Review, Lakvijaya Power Plant Manager Nalaka Kumara confirmed that an investigation was under way but declined to provide further details.

The financial issue is direct: if the plant paid for diesel it did not receive, public-sector funds were spent without the electricity sector receiving the corresponding fuel.

Business

Sri Lanka Food Processors Association holds 29th Annual General Meeting

Published

24 hours ago

2026/09/30

Sahan Weerasooriya

The Sri Lanka Food Processors Association (SLFPA) successfully convened its 29th Annual General Meeting (AGM) on September 23, 2026, at the Water’s Edge Hotel, Battaramulla. Bringing together key industry stakeholders and member organizations, the event served as a platform to review milestone achievements from the 2025/2026 term and outline strategic priorities for the nation’s food and beverage processing sector.

At the AGM, the new Executive Committee for 2027/2028 was appointed, comprising: Honorary President Aruna Senanayake C.W. Mackie PLC Imme. Past President Thusith Wijesinghe Trans Continental Packaging & Commodities (Pvt) Ltd.

President Elect Nadishan Guruge Meadlee Trading Co. (Pvt) Ltd.

1st Vice President Damitha Perera Forbes & Walkers Commodity Brockers (Pvt) Ltd.

2nd Vice President Rasika Seneviratne Diesel & Motor Engineering PLC 3rd Vice President Deepal De Alwis Neochem International (Pvt) Ltd.

Honorary Secretary Amila Weerasinghe Nestle Lanka Limited.

Asst. SecretaryDineth Alahakoon Country Style Foods (Pvt) Ltd.

Honorary Treasurer Sameera Jayathilaka Westmann Engineering Company (Pvt) Ltd.

Asst. Treasurer Niroshan Dalpethado C D De Fonseka & Sons (Pvt) Limited. In addition to the above office bearers, the following ten Executive Committee Members were appointed:

Sanjeewa De Silva Unilever Sri Lanka Limited Sheran De Alwis MA’S Tropical Food Processing (Pvt) Limited

Thusitha Ekanayake Anods Cocoa (Pvt) Ltd.

Vijitha Govinna Plenty Foods (Pvt) Limited Ms. Praharshi Wickramasekara International Commodity Exports (Pvt) Ltd.

Sanjeewa Niroshan SGS Lanka (Pvt) Ltd. Kushan Amarasinghe Finagle Lanka (Pvt) Ltd.

Rangajeewa Hettiarrachchi Fonterra Brands Lanka (Pvt) Ltd.

Harindra Abeyrathna Vision Technologies International (Pvt) Ltd. Thilina Weerasekara Ceylon Cold Stores PLC

The event was proudly supported by key industry partners, with SGS Lanka (Pvt) Ltd serving as the Platinum Sponsor. Unilever Sri Lanka Ltd. and Nestlé Lanka Ltd. joined as Gold Sponsors, Ceylon Agro Industries – Prima as the Silver Sponsor, while Lanka Exhibition & Conference Services (LECS) and Hero Nature Products (Pvt) Ltd., supported as Bronze Sponsors.

The proceedings concluded with a vote of thanks delivered by Hony. Secretary Deepal De Alwis, followed by cocktails and a fellowship networking session, providing an opportunity for members to connect and strengthen industry ties.

Business

Uber brings the ‘business class of back seats’ to Sri Lanka with Uber Black

Published

24 hours ago

2026/09/30

Sahan Weerasooriya

New premium ride option expands Uber’s portfolio from affordable Moto and Tuk rides to premium on-demand travel

Uber announced the launch of Uber Black in Sri Lanka, bringing its premium ride experience to the country for the first time. Designed as the “business class of back seats,” Uber Black combines premium vehicles and highly-rated drivers for riders looking for greater comfort, quality and a more elevated travel experience.

The launch comes as demand for premium products and experiences grows across Sri Lanka, with consumers seeking greater choice and quality in their everyday experiences. Uber Black brings this choice to on-demand mobility, whether for an airport journey, an important business meeting, a special occasion or simply when riders want to travel in greater comfort.