Business
Dialog in partnership with Sampath Bank launches tourist fuel pass

Dialog Axiata PLC on the invitation of Ministry of Power and Energy and Ministry of Tourism partnered Sampath Bank PLC, to launch the Tourist Fuel Pass (TFP) that would enable tourists visiting Sri Lanka to obtain fuel without the standard quota restrictions. The TFP is a NFC-based stored value card that can be purchased on foreign currency at any Sampath Bank outlet. The Tourist Fuel Pass is powered by the Touch Fuel Platform developed by MilleniumIT ESP and accessible at selected Ceylon Petroleum Corporation (Ceypetco) and Lanka IOC (LIOC) fuel stations island-wide.
Dialog Axiata was licensed by the Central Bank of Sri Lanka as an Issuer of Payment Cards to facilitate issuance of single purpose stored value Tourist Fuel Pass cards. The Touch Fuel solution is available across 300 CPC and LIOC outlets and will be expanded to over 500 outlets by end-October 2022. Tourists can purchase the Tourist Fuel Pass for USD 5/- at any of the 229 Sampath Bank branches island-wide, including the outlet at the airport arrival. Tourists can access https://fuelpass.gov.lk/touristpass for additional information and contact the 24-hour hotline on 1393 for any card related queries. The Tourist Fuel Pass will be allowed a minimum of USD 50/- and a maximum of USD 300/- top-up value that can be paid in any accepted foreign currency, which will then be converted to LKR equivalent on the day’s prevailing forex rate and will be subject to a convenience fee deduction. The card is valid for 2 years from the date of activation. Further, any loss or damaged card can be replaced at any of the Sampath bank branches island-wide.
Commenting, Hon. Kanchana Wijesekera, Minister of Power and Energy said, “We are pleased to introduce the Tourist Fuel Pass to encourage overseas visitors to Sri Lanka who may be concerned about availability of fuel for their travel within the country. We are grateful to Dialog Axiata PLC, Sampath Bank PLC and Dialog’s Technology partner MillenniumIT ESP, along with CPC and LIOC for enabling the launch of this platform. The Government of Sri Lanka is committed to creating a safe and comfortable environment for all visitors to our beautiful country and the launch of TFP is one such initiative in that direction”.
Sharing his thoughts on the Tourist Fuel Pass, Hon. Harin Fernando, Minister of Tourism and Lands said “With the influx of visitors arriving in the country following the tourist season, I am pleased to see initiatives of this nature come to fruition. We have deep-seated confidence in this platform as it is powered by Dialog Axiata and Sampath Bank, two of the leaders in new technology & innovation. I must also acknowledge the efforts taken by MIT, Ceypetco and Lanka IOC for facilitating the launch of the Tourist Fuel Pass. We must all come together to showcase the beautiful nation that we all love as the accommodating, hospitable, ultimate travel destination that it is, and I am grateful to all those present on this occasion who have done so”.
Speaking about the initiative, Supun Weerasinghe, Group Chief Executive of Dialog Axiata PLC said, “We are thankful to the Ministry of Power and Energy and the Ministry of Tourism and Lands for their continued efforts and collaboration with the private sector to utilize digital platforms that would overcome challenges and accelerate growth. We are pleased to facilitate the ‘Tourist Fuel Pass’ solution and are thankful to our partners Sampath Bank, MIT, Ceypetco and Lanka IOC for enabling the launch of TFP on time for the upcoming tourist season”.
Sharing his thoughts on the partnership, Nanda Fernando, Managing Director of Sampath Bank PLC said “We at Sampath Bank are pleased to collaborate with Dialog Axiata PLC and Ceylon Petroleum Corporation on this new initiative as the exclusive banking partner for the new Tourist Fuel Pass. Introducing this scheme, guarantees an influx of foreign currency to the country as well as brings forth convenience and availability of fuel for tourists to travel around the island. As we thrive to support our country during these uncertain times, we are privileged to be on board with this project and to revive our nation”.
Expressing his thoughts, Susantha de Silva, Managing Director, CPC said, “Ceylon Petroleum Corporation takes pride in having been able to energize the future tourism industry by timely initiating the Tourist Fuel Pass in collaboration with all stakeholders. It has been a challenge but a joy to explore practical and user-friendly avenues to make tourists feel unburdened and carefree during their stay in our beautiful island. We are grateful to all the entities which held hands with Ceylon Petroleum Corporation in this journey to launch a Tourist Fuel Pass. I sincerely wish that this measure will drive the future tourism industry into a new phase and open new doors to uplift the country’s economy.”
Commenting, Manoj Gupta, Managing Director of LIOC said, “Atithidevo Bhava-A guest is akin to God. We are delighted to collaborate with Dialog Axiata PLC, Sampath Bank PLC and Dialog’s Technology partner Millennium IT ESP for this much awaited launch of Tourist Fuel Pass, that offers tourists fuel assurance at all LIOC sheds. As the travel and hospitality sector is witnessing increasing demand once again, we believe this Tourist Fuel Pass is coming at the right time for tourists looking at resuming their travel and enjoying their holidays in our island nation”.
Speaking about the initiative, Shevan Goonetilleke, CEO of MillenniumIT ESP said, “We are pleased to be a part of this great initiative in facilitating the ‘Tourist Fuel Pass’ that will contribute towards encouraging travelers to visit Sri Lanka despite the ongoing crisis. This platform launch was made possible by the incredible partnership between public and private sector companies, The Ministry of power and energy, The Ministry of Tourism and lands, Dialog Axiata PLC, Sampath Bank PLC, Ceypetco, and Lanka IOC. And this is just another example of how technology can rapidly create ecosystems to mitigate a national crisis.”
Business
‘A currency that works for all: Why we need balance, not strength’

In the ongoing debate on Sri Lanka’s currency direction, much of the noise focuses on the strength of the rupee. A stronger rupee, many argue, will ease import costs, tame inflation, and bring short-term consumer relief. While this narrative may be politically expedient, it risks overlooking the deeper structural consequences for Sri Lanka’s export economy—the engine that earns our foreign exchange and sustains millions of livelihoods.
The hard truth is this: an artificially strong rupee is not a sign of economic health. It is a distortion that may win applause from consumers in the short term, but at the devastating cost of export competitiveness, job creation, and long-term resilience.
Misaligned currency
Sri Lanka’s export sector is not a small sideshow. It contributes over 20% of GDP, directly supports 1 in 4 jobs, and generated USD 16.17 billion in total export earnings in 2024, with merchandise exports contributing USD 12.77 billion and services USD 3.47 billion. Of this, the apparel industry alone accounts for nearly half of merchandise exports, employing over 350,000 people directly—the vast majority being women from rural communities.
When the rupee is overvalued beyond what market fundamentals dictate, Sri Lanka’s exporters are forced to compete on global markets with inflated cost structures. Every artificially appreciated rupee erodes our margins, makes Sri Lankan goods less competitive, and undermines the viability of our factories and supply chains.
For apparel exporters, even a 1% appreciation of the rupee against the dollar can mean a margin compression of up to 3%, given the tight cost structures and price sensitivity of global buyers. Over time, this pushes orders to lower-cost competitor markets like Bangladesh, Vietnam, and Indonesia—all of whom maintain prudent, export-supportive currency regimes.
The situation is further complicated by the fact that the current level of the rupee is not a true reflection of Sri Lanka’s macroeconomic fundamentals. Much of the country’s external debt servicing remains temporarily suspended. Until those repayments recommence, the rupee remains artificially elevated, distorting price signals and export margins.
Balance over strength
No serious economy targets a ‘strong currency’ at all costs. Successful export-led economies—from China to Vietnam—aim for currency stability and competitiveness, ensuring their exporters have a level playing field.
For Sri Lanka, the goal should be no different. A market-reflective rupee that is aligned with our productivity levels, cost base, and external balances is essential for sustainable growth. This does not mean chasing devaluation recklessly, but resisting the temptation to prop up the currency using scarce reserves or distortionary policy interventions.
Moreover, the World Bank and IMF both caution that currency misalignment in fragile economies often leads to unsustainable balance of payments gaps, import surges, and eventual crises—a painful lesson Sri Lanka knows all too well.
A currency for everyone
At its core, the currency debate is not about exporters versus importers, or rural versus urban interests. It’s about ensuring that our economic fundamentals are healthy, balanced, and sustainable for all Sri Lankans.
A stable, market-driven rupee allows our exporters to remain competitive, ensures that our debts are manageable, and gives investors confidence. Over time, this builds the foreign reserves needed to moderate inflation, fund essential imports, and support social welfare.
Theoretically, a stronger rupee should reduce import costs and offer price relief to consumers. But in practice, this has not materialised. Prices of essentials and everyday goods have remained largely unchanged at the supermarket, suggesting that the currency strength has not trickled down to tangible household savings.
We need to move beyond the outdated obsession with currency ‘strength’ and focus instead on currency sustainability—one that works for exporters, consumers, businesses, and the economy as a whole.
In a country where exports must lead the recovery, we cannot afford a currency policy that ignores the very sectors that bring in the dollars.
By the Joint Apparel Association Forum (JAAF) ✍️
Business
Korean Film Festival – ‘A cultural bridge between South Korea and SL’

The Korean Film Festival, now underway at the PVR Cinemas in Colombo, is more than a cinematic showcase — it’s a cultural bridge between South Korea and Sri Lanka, according to Korean ambassador to Sri Lanka, Miyon Lee.
Speaking to The Island Financial Review at the opening ceremony on Thursday ambassador Lee expressed hope that the event will spark greater appreciation for Korean entertainment and encourage lasting cultural exchanges.
“This Korean Festival will be able to bring Korean films, Korean entertainment and Korean arts to Sri Lanka. We hope that we will be able to have more cultural exchanges between Sri Lanka and Korea, ambassador Lee said.
The festival features two films — ‘Extreme Job’, a wildly popular action-comedy and ‘Myeongyang: The Roaring Currents’, a historical epic that depicts Admiral Yi Sun-sin’s legendary 16th-century naval victory. While modest in scale this year, the ambassador said the intention is to grow the event in the future.
“No, unfortunately this time it was very difficult to bring a lot of films. So this time we are going to have only one each, two films, she explained. “But we hope that now you have a very large scope of movie filmgoers and that PBR or Scope will be able to bring more Korean commercial and entertainment movies to show to the Korean–Sri Lankan filmgoers.”
Ambassador Lee, a self-professed history enthusiast, shared her personal appreciation for both films in the line-up.
“My favourite movie among the two? I love both of them. ‘Myeongyang’ is kind of a history mania, so I love all the history movies, she said. “Extreme Job is a really hilarious film — a police officer working undercover finally catches the drug dealers. It’s fun, full of emotion, drama, love stories and family morals. Our entertainment is not only about action — there’s meaning and universal messages for families and gatherings.”
The Korean entertainment industry, now a global force, did not emerge overnight, ambassador Lee emphasized. It grew through a mix of government support, global exposure and investment in talent and technology.
“The Korean entertainment industry did not develop in a short period. It has been developed with a lot of support from the people, the government, and also with talented Korean people going abroad, studying high-tech filmmaking techniques and expertise, she said. “They brought back a lot of content that is now enjoyed not only in Korea but also universally.”
When asked about Sri Lanka’s potential in film and entertainment, ambassador Lee acknowledged the country’s growing industry and highlighted the role of regional collaboration.
“There have been a lot of activities to bring in different Asian cultures and filmmakers to Korea. Korea annually hosts the Busan International Film Festival, which encourages a lot of Asian films that we never experienced before, she noted.
Beyond cinema, the ambassador underscored the multi-dimensional nature of Korea’s cultural outreach in Sri Lanka.
“Not only the films, but we also try to bring and introduce Korean cuisine, Korean dramas, K-pop, taekwondo and sports, she said. “Film is only one part of the activities that we do here in Sri Lanka. I want to meet and satisfy the eagerness and the demand for experiencing Korean culture here.”
Ambassador Lee also addressed the global success of Korean dramas, often referred to as K-dramas, which have captivated audiences from Latin America to the Middle East and beyond.
“Korean dramas are very popular worldwide. In Sri Lanka, we can really promote it more. But it takes effort, infrastructure, and importantly, government and industry support.”
She noted the potential for future collaborations between the Sri Lankan and Korean creative sectors and expressed optimism about deepening these ties.
“This is just a glimpse of Korean films. I hope that we’ll be able to import more Korean films here to be shown to a broader base of the Sri Lankan public. We have very excellent Korean directors, very international, the ambassador explained.
She cited the recent international visibility of Korean filmmakers, including the work ‘Mickey 17’ by acclaimed Korean director Bong Joon-ho, as an example of Korea’s growing global stature in entertainment.
As the Korean Film Festival continues this week at Scope Cinemas, audiences are expected to engage with a blend of laughter, action, history and humanity — the hallmarks of Korean storytelling.
By Ifham Nizam ✍️
Business
ComBank opens its first dedicated Women’s Banking Centre at Jaffna branch

The Commercial Bank of Ceylon has launched its first exclusive Women’s Banking Centre, managed by a dedicated team of female staff to serve female customers, reinforcing the Bank’s commitment to meeting the unique needs of women.
The centre named ‘Anagi Women’s Banking Centre’ was recently opened at the Jaffna branch, located at No 474, Hospital Road, Jaffna.
Designed specifically to cater to the needs of female customers, the Anagi Women’s Banking Centre features special amenities including a lactation room, children’s play area, dedicated pawning unit, counselling unit, cafeteria and provides the full range of financial products and services offered at any Commercial Bank branch.
Through this initiative, the Bank reaffirms its commitment to diversity, equity, and inclusion as well as its dedication to promote gender equality and empower women, the Bank said. The exclusive ‘Anagi Women’s Banking Centre’ aims to go beyond traditional banking by creating a unique environment specifically tailored to the needs, preferences, and challenges faced by women, while offering a comprehensive range of banking services.
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