Business
Unpacking the possibilities with Ex-Pack

With an upcoming IPO and listing on the Colombo Stock Exchange, Ex-Pack Corrugated Cartons Limited, Sri Lanka’s market leader in the corrugated carton industry, is preparing to embark on the next leg of its growth journey. The company is offering investors a handsome value proposition in both the medium and long-term, while potentially being the most sustainable and responsible manufacturer within the industry. Ex-Pack is also the most outward-facing corrugated carton manufacturer in Sri Lanka with half of its revenue generated in US Dollars from export earnings. Thus, we sat down with Mr. Zulficar Ghouse – Managing Director at Ex-Pack, one of Sri Lanka’s most respected businessmen, to gain a clear understanding of the business prospects and unpack the Company’s future possibilities.
Could you give us an overview of the business?
To capture our journey in essence, we started off as a simple manufacturer of corrugated cartons 24 years ago, and have since grown into a complete end-to-end corrugated carton packaging solutions provider. In the process, we’ve become the market leader in Sri Lanka, not just in terms of volume but also in terms of quality, sustainability and ethicality of our product. Today, 1 out of every 5 cartons made in Sri Lanka is produced by Ex-Pack. This is a significant achievement given that this is a highly competitive market, with a relatively large number of players. Still, we have managed to maintain our leading position for at least the last 5 years.
What is the current state of the business? Could you elaborate on your markets and international presence?
Presently, our team comprises of 295 full-time employees and, through our 203,000 square-foot manufacturing facility, we produce in excess of 2,600 metric tonnes of corrugated carton products each month. Among the players in Sri Lanka, we are also the most focused on export markets, and thus we serve over 600 customers worldwide, including major corporates and brands both in Sri Lanka and abroad. These customers represent a wide spectrum of industry, ranging from FMCG to consumer durables, apparel, tea, fisheries and some others. Of these, FMCG is presently the largest segment that we cater to and these customers account for 48% of our revenue.
Our edge has been our unparalleled quality coupled with our reduced lead times. In fact, even during FY 2021, which commenced 1st April 2020 and ended 31st March 2021, a time of great strain and upheaval, particularly in the logistics industry, we were able to achieve a remarkable 98% on-time delivery rate. This was made possible by our comprehensive, world class computerized manufacturing and stock management systems, coupled with our extensive storage facilities and dynamically responsive production model. In Sri Lanka, we maintain our own fleet of 16 delivery vehicles to ensure prompt and on-time delivery and end-to-end control of our process.
Over the years, we have become a strategic packaging solutions partner to our customers and we’re proud to say that we’ve maintained partnerships spanning over a decade with at least 30 of our best clients, and these relationships account for just over 50% of revenue. Furthermore, we serve customers in 8 countries including the Maldives, Qatar, India, the USA, Australia, Madagascar, the Seychelles and Reunion Island. This results in 52% of group revenue being derived in USD through export earnings, and we expect this figure to increase to 59% by FY2024.
Currently, our product portfolio includes regular slotted cartons, die-cut cartons, laminated cartons and a host of specialized products that are developed using recycled materials and designed specifically to meet customer needs. These specialized products include unique and innovative solutions such as wardrobe cartons made for the storage and transport of apparel items and light-weight fish containers.
Business
SIA warns of 1,000 SME collapses, urges fair policies to protect Sri Lanka’s rooftop solar sector

By Sanath Nanayakkare
The Solar Industries Association (SIA), representing over 1,000 companies and employing 40,000 workers in Sri Lanka’s rooftop solar sector, issued a stern warning recently regarding threats to the industry’s survival and the nation’s renewable energy ambitions. The association condemned recent regulatory instability and called for urgent policy reforms to avert economic and social crises.
The SIA categorically rejected the Ceylon Electricity Board’s (CEB) claim that rooftop solar installations caused the recent island-wide power outage, calling the accusation “baseless and misleading.”
“Public trust is eroded when accountability is misdirected,” the SIA stated. “We demand an independent, transparent investigation led by experts appointed by the Ministry or the Public Utilities Commission (PUCSL). The CEB’s unilateral statements disregard the sector’s contributions and jeopardize Sri Lanka’s renewable energy transition,” they said.
“While acknowledging the formation of a tariff determination committee, the SIA criticized its narrow focus on financial parameters, ignoring the sector’s socioeconomic value. Rooftop solar empowers businesses and households with energy independence, reduces grid strain, and supports climate goals. However, proposed volatile tariff structures risk destabilizing over 100,000 installations—primarily owned by middle-class families—and deter future investment,” they noted.
“A rigid, equation-based tariff system is unsustainable,” the association warned. “Sri Lanka needs a stable policy framework to attract long-term investments. For instance, retirees could invest EPF savings into solar projects, securing income while advancing national energy targets. Without urgent action, 1,000 SMEs and 40,000 jobs face collapse, with dire consequences for employment, energy security, and economic stability,” they pointed out.
SIA urged policymakers to establish an independent committee to investigate the power outage fairly, expand the tariff committee’s mandate to include socioeconomic and environmental benefits and implement predictable policies to safeguard SMEs, households, and investor confidence.
“Sri Lanka stands at a crossroads,” the SIA emphasized. “Protecting rooftop solar isn’t just about energy—it’s about livelihoods, economic resilience, and a sustainable future. We urge stakeholders to collaborate on solutions that prioritize both people and progress,: they emphasized.
Business
Sri Lanka makes outstanding appearance at OTM and SATTE 2025 in India

Starting its promotional work for 2025, Sri Lanka Tourism Promotion Bureau (SLTPB) added another feather into its cap of endorsements, by being recognized as the most innovative Tourism Board promotion in Outbound Travel Mart (OTM) . In parallel to that, several other sub events were held. The OTM was held in Jio World Convention Centre, Mumbai—India, from 30th January to 01st February 2025.Before OTM, the Global Village – Global Exchange & Trade Exhibition was held at the Surat International Exhibition & Convention Centre , Sarsana, Surat (Gujarat – India , from 25th to 27th January 2025. This travel fair was organized by Southern Gujarat Chamber of Commerce and Industry (SGCCI).
Sri Lanka participated in both OTM and South Asia’s Travel & Tourism Exchange (SATTE), held from 19th – 21st Feb 2025, in New Delhi, India . This was an excellent opportunity for Sri Lanka to promote it’s potential as a unique travel destination, especially for the Indian counterparts, as SLTPB has identified India as the number one source market for Sri Lanka, tourism bringing the largest number of tourist arrivals to the destination.
Business
SLT-MOBITEL partners with the Rush Lanka Group to power its apartment portfolio

SLT-MOBITEL has entered into a strategic partnership with Rush Lanka Group to provide exclusive SLT-MOBITEL Fibre connectivity solutions to their portfolio of luxury apartment developments in Colombo and the suburbs, enhancing the digital experience of all residents.
The agreement was signed between Imantha Wijekoon, Chief Business Officer of Consumer Business at SLT, and Zaid Ariff, Director of Construction at the Rush Group headquarters. Representatives from both companies also attended the ceremony.
Under the partnership, SLT-MOBITEL will serve as the exclusive digital service provider for five prestigious Rush Lanka developments including Street Rush Residencies and Rush Court 4 in Mt. Lavinia, Rush Tower 2, Rush Metropolis in Dehiwala, and Rush Court 5 in Colombo 14. The collaboration ensures residents will enjoy superior fibre connectivity speeds, enabling seamless digital experiences in modern smart homes. The partnership with the Rush Lanka Group aligns with SLT-MOBITEL’s commitment to offer ultra-fast, reliable connectivity solutions to residential developments. Delivering exclusive fibre connectivity to luxury apartments, SLT-MOBITEL ensures residents have access to world-class digital services that complement the living experience promised by Rush Lanka Group.
Powered by advanced fibre technology, SLT-MOBITEL network will provide the residences with seamless performance across digital activities. The SLT-MOBITEL Fibre backbone ensures lag-free experiences whether tenants are gaming online, attending virtual classes, working remotely, or streaming high-definition entertainment. SLT-MOBITEL Fibre will transform the lifestyles of all apartment users bringing greater convenience and superior quality of life.
Rush Lanka Group, established in 1992, is a property developer specializing in luxury and semi-luxury apartments.
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