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‘Are economic reforms aimed at easing burden on masses a fault?’ asks President

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President Ranil Wickremesinghe makes special statement to the nation on ‘National Transformation Roadmap” on June 1st 2023.

Rebuilding a bankrupt nation cannot be achieved by using traditional methods

Says policy-based frameworks will be made part of public discourse

Keeping the big picture in focus and strictly sticking to a roadmap of economic stability and growth, President Ranil Wickremesinghe last week questioned whether the implementation of economic reforms aimed at easing the burdens on the masses ‘a fault’ as some groups claim it to be.

Urging the entire nation to rally round to create policy-based frameworks through collaborative discourses in order for the country and its people to be better off in the future, the President said,” Unfortunately, some groups involved in traditional politics are actively working to hinder our economic revival. They are spreading false information about our reform agenda and intentionally misleading the public with claims that we are selling off the country,”

“Throughout history, these groups have continuously resorted to fear-mongering tactics, falsely asserting that our actions are driven by a desire to sell out our nation. They have deceived many Sri Lankans in the 1950s, 1960s, 1970s, and even the 1980s, instilling an irrational fear of the country being sold out. From then until now, these groups have disrupted real progress for economic reform by perpetuating this slogan of “selling the country”, he said.He made these remarks while making a special statement to the nation on the ‘National Transformation Roadmap’ designed for the country.

The President went on saying, “I am confident that you will no longer be deceived by such slogans. It is imperative for all of us to work diligently and to totally devote ourselves for the upliftment of our country. Our objective is to transform into a fully developed nation on the global stage by 2048. If we fail to align our economy with the modern world and the latest trends in technology, we will regress. If we don’t bring in reforms now, the consequence of such failure will perpetuate the country in an economic malaise. Let us forge ahead and shape our economy in a way that enables us to compete on the global stage. Let us carry out the necessary economic reforms for the greater good of our nation.

“Through these economic reforms, our aim is to rectify misguided policies, programmes, and projects. Rebuilding a bankrupt nation cannot be achieved by using traditional methods. We must adopt a fresh approach and embark on a new journey of transformation.”

“What are the outcomes of these economic reforms?”

“The cost of living for all Sri Lankans will decrease, and our standards of living will rise. Is that a fault? Is it tantamount to selling our country? These reforms generate new opportunities for businesses to grow and thrive, ranging from small-scale enterprises to large-scale ventures. Is that a fault? Is that about selling the country?

“We are working to provide necessary relief and basic essentials to the poor and the most vulnerable segments of our society. Is that a fault? Is that a betrayal of our country?”

“The burden of covering losses incurred by state owned enterprises will no longer be placed on the people. Is that a fault? Does it lead to sale of the country?”

“A culture of accountability and transparency is being fostered. Is that a fault? Does that mean the country is being sold? We are working to make Sri Lanka one of the world’s fastest-growing nations. Is that a fault? Does that imply that the country is for sale?

“The implementation of our economic reforms serves only to achieve sustainable development and prosperity in our country. Through these reforms, we will accelerate Sri Lanka’s modernization, expand our markets and encourage greater contributions from the international community towards our development.”

“We acknowledge that this journey is not an easy one, and we anticipate numerous challenges along the way. However, we are determined to overcome these obstacles. Our government is always committed to acting in the best interests of our country,” the President said.



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HNB Finance bags 2 CMA Reporting Awards 2025

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Prof. Ho Yew Kee presents the award, while Rajeeva Bandaranaike hands over the certificate to the HNB Finance team. Featured (right to left): Thushara Jayasekara – Chief Manager / Head of Corporate Planning & Analytics; Randula Munindradasa – Assistant Manager Planning & Analytics; Sandakelum Jayathunga – Senior Manager – Financial Reporting; Maheshika Samarakoon – Manager – Strategy Implementation & Reporting

HNB Finance PLC has been honoured with two prestigious accolades at the CMA Excellence in Integrated Reporting Awards 2025, reaffirming the company’s commitment to transparency, good governance, and integrated business performance.

At this year’s ceremony, HNB Finance PLC was awarded Second Runner Up – joint in the category of “Best Integrated Report , Finance and Leasing Sector”, and also received a Merit Award in recognition of its continued efforts to enhance reporting quality and strengthen stakeholder communication.

The CMA Excellence in Integrated Reporting Awards, organised annually by the Institute of Certified Management Accountants (CMA) of Sri Lanka, acknowledge organisations that demonstrate superior financial reporting standards aligned with global best practices. Winners are assessed on key criteria such as financial performance and strategic management, corporate governance and compliance, innovation and digital transformation, sustainability practices, and professional excellence.

Chaminda Prabhath, Managing Director/CEO of HNB Finance PLC, commented on the recognition, “These awards reaffirm our commitment to upholding the highest standards of integrated reporting and transparent financial disclosure. At HNB Finance, we remain focused on delivering sustainable long-term value through robust governance frameworks, prudent financial management, and continuous innovation. The acknowledgement by CMA Sri Lanka reflects the disciplined efforts of our teams across the organization and motivates us to further enhance our reporting quality, strengthen ESG integration, and reinforce our stakeholder centric approach.”

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ComBank joins ‘Liya Shakthi’ scheme to further empower women-led enterprises

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Mithila Shyamini, Assistant General Manager – Personal Banking at Commercial Bank and Jude Fernando, Chief Executive Officer of the National Credit Guarantee Institution exchange the agreement in the presence of representatives of the two organisations

The Commercial Bank of Ceylon has reaffirmed its long-standing commitment to advancing women’s empowerment and financial inclusion, by partnering with the National Credit Guarantee Institution Limited (NCGIL) as a Participating Shareholder Institution (PSI) in the newly introduced ‘Liya Shakthi’ credit guarantee scheme, designed to support women-led enterprises across Sri Lanka.

The operational launch of the scheme was marked by the handover of the first loan registration at Commercial Bank’s Head Office recently, symbolising a key step in broadening access to finance for women entrepreneurs.

Representing Commercial Bank at the event were Mithila Shyamini, Assistant General Manager – Personal Banking, Malika De Silva, Senior Manager – Development Credit Department, and Chathura Dilshan, Executive Officer of the Department. The National Credit Guarantee Institution was represented by Jude Fernando, Chief Executive Officer, and Eranjana Chandradasa, Manager-Guarantee Administration.

‘Liya Shakthi’ is a credit guarantee product introduced by the NCGIL to facilitate greater access to financing for women-led Micro, Small, and Medium Enterprises (MSMEs) that possess viable business models and sound repayment capacity but lack adequate collateral to secure traditional bank loans. Through NCGIL’s credit guarantee mechanism, Commercial Bank will be able to extend credit to a wider segment of women entrepreneurs, furthering its mission to drive inclusive economic growth.

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Prima Group Sri Lanka supports national flood relief efforts with over Rs. 300 Mn in dry rations

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Defence Secretary Air Vice Marshal (Retd) Sampath Thuyacontha receiving the donation from Sajith Gunaratne - General Manager of Ceylon Agro Industries Limited, and Sanjeeva Perera - General Manager of Ceylon Grain Elevators PLC

Prima Group Sri Lanka has pledged assistance valued at over Rs. 300 million, providing essential Prima food products to support communities affected by the recent floods across the island. This relief initiative is being coordinated through the Ministry of Defence to ensure the timely and effective distribution of aid to impacted families.

As part of this commitment, Prima Group Sri Lanka donated a significant stock of Prima dry rations to the Government of Sri Lanka on 30 November. The consignment will be distributed across multiple severely impacted districts. These supplies will support families facing disruptions to daily life, ensuring they receive assistance as recovery efforts continue.

The handover took place at the Ministry, where the donation was received by the Secretary of Defence, Air Vice Marshal (Retired) Sampath Thuyacontha. Representing Prima Group Sri Lanka, Sajith Gunaratne – General Manager of Ceylon Agro Industries Limited, and Sanjeeva Perera – General Manager of Ceylon Grain Elevators PLC, officially presented the donation.

Prima Group has been standing with the people of Sri Lanka for over 40 years, and this donation reflects its broader commitment to the nation during challenging times. As relief operations continue across the island, the company remains focused on helping families rebuild their lives and supporting the ongoing recovery process in collaboration with the Government Authorities.

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