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Eran outlines practical solutions aimed at resolving corruption and other issues

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Continued From Yesterday
A National Land Bank

Another huge barrier you face when you are in business is, basically getting some land to set up a factory, industry or even an office. I am a person who came from your side (private sector) to this side (public sector) and I can share my view on this area of activity of obtaining land for a Multi model Transport Hub. I had to get involved with the UDA, CGR, CTB, Municipal Council, the state authorities; just to get a plot of land sorted out and it took nearly two years.

The President the other day said a National Land Council will be set up and a national land policy will be adopted. What I ask is, do it quickly rather than allow time to pass. We are taking it beyond that and we will create a National Land Bank. This is one of the huge obstacles, the businesses in our country face. That is why we want to make sure that we go in this direction.

Fuel and Energy issues

The other issue you are currently facing is fuel and energy. No easy solution and payment cannot be made as there is an immediate dollar shortage in the country. A few months ago MP Harshana Rajakaruna and I were at the COP – 27 meeting in Egypt where the President was in attendance at the meeting of leaders of countries meeting on energy and the environment. We were there as Members of Parliament with other Members of Parliament of South Asian countries. One of the things we don’t openly talk about is, we have a huge potential in sustainable energy; our policy is to open a system. Sri Lanka’s biggest hurdle is that we have closed our borders and we need to open them. Bigger issue is we have closed our minds and we have to open our minds and think out of the box.

Therefore, this potential can’t be tapped unless we have foreign investments and we heard our political parties saying that foreign investment will not be welcomed in the energy sector. What kind of nonsense is that? We are never going to do it with our savings because we know about our debt problem. Therefore, we have to open it up for foreign investment. I can’t understand their logic; what are we talking about here is solar energy and wind energy. We are selling the resources. Therefore we have to open up. We have so much of potential. Harshana and I had discussions with India, Nepal, Bangladesh and Bhutan. Sri Lanka’s needs can be met by more than that, we could even become an exporter of energy. Therefore we need to move in that direction.

Legal process

Other issues businesses have are legal issues. I must confess upfront I am not a lawyer, not a legal person. But there is a lot that has been written. Fair and equal treatment is absolutely important. Businesses also need guarantees against appropriations. When I was in Parliament first in 2010 – 2015, it was awful to see what the then government did.

The private sector lost confidence. We have constitutional guarantees. But despite the constitutional guarantees unlawful expropriation is a predominant concern of the private sector. State has the right to regulate, but not to unlawfully or indirectly expropriate. Fair treatment must be ensured and we will work on it.

We need to be seen as a reliable country where local and the foreign businesses actually can deal with us. This needs a lot of consultations on how we are going to do this. We need to make Sri Lanka a Centre for Arbitration in the region to move in this direction.

Centralised approvals for local BOIs

Why only the concept for foreign investments, why haven’t we thought about it? Several years ago when I was a banker I was asked how to develop ICT. I was not an ICT man but I was a developer. I was ask to take over the ICT. I went and looked at it. There were more drivers and clerks than ICT people there. I came up with a recommendation to shut it down and that is how the ICTA was started. Some of these reorganizations will have to be radical. I will give an indication that we will do the reforms; starting a new BOI for local businesses. We have to be radical in our thinking if we want to enable this country to go ahead. These are not new but other countries have done these things. Therefore, these things can be done.

Foreign Direct Investment (FDI)

Our foreign policy is that of an independent state. I like the old language that was used by Madam Sirimavo Bandaranaike. A Non – Aligned country. Taking into consideration the security concerns of our neighbour India, the closed proximity we have, we have to work intelligently. But we are an independent state. That is our foreign policy. In this foreign policy we don’t care where the investment comes from. Rule of Law will be paramount. We have to have an empowered BOI. Exports will be given primacy. Value addition to high- end services, basically high tech manufacturing institutions, will be relooked at.

SOEs

Harsha De Silva M.P gave the staggering statistics of State Owned Enterprises. I remember a former Prime Minister called me one day and said he wants to put Sri Lankan Airlines under me. I said Sir, wait a minute. I don’t want it. He looked very puzzled. He asked why? I said; Sir, there is no point in giving me the things that cannot be overturned by me. Everybody looked shocked. We have to stop fooling ourselves.

SoEs need to be reformed. I am going to tell you what our policies are. Our philosophy is limited government ownership in strategic areas. There are strategic areas, such as, finance, food and energy. But you know to do things better. I don’t think the government needs to be involved. You are the entrepreneur, you know the market you know better, therefore, you should be doing things. Now the number of SOEs have risen from 105 to 250.And the losses have risen to more than a trillion rupees. We believe in Public -Private Partnerships. We looked at various models of PPP.

We see now the institutions are put under different ministries and the ministers are managing them through their secretaries, like chief executives giving instructions to commercial enterprises. We want to move away from that. We want to take the people who know what to do to be in-charge of them. That is why that structure is important and the businesses can lead those structures. One more thing, bankruptcy can also be avoided. Therefore, we need a law on bankruptcy and on reorganizing bankruptcy. Preliminary work was done and the AGs Dept. played a key role in it.

Diaspora

We need to take this country to the next level. It is not going to be easy. I think we have a 2- 3 year struggle on our hands. Stabilization first, as Dr. Harsha said. If I use the word diaspora here, this word has been redefined with Sri Lanka’s conflict in mind. That is why I purposely use the words Overseas Sri Lankans. Sri Lankans living overseas are not a liability; they are one of the biggest assets this country has. Their educational level is very high, they have the technology and the foreign currency, so many huge advantages and we want to welcome them here. If they decide to have dual citizenship they will be given it. Their 2nd generation born abroad will be given permanent residence and we will open our doors to them and their investment. Why should we close the door on these biggest assets we have?

Education for all

Physical location is a great advantage this country has. We are the hub of the Indian sub-continent in education and human resources. Airport, ports, logistics are available.

SJB policy is that every child in this country must have access to higher education.

Though education is a public good the supplier need not necessarily be the government. Private sector too can be a supplier.

Two private sector medical colleges opened by the private sector previously were shut down due to protests by left wing political parties who are against private sector contributions towards education.

The responsibility of the government is regulation in providing education.

We want to preserve our societies and families. We don’t want our youngsters going abroad, looking for greener pastures or for shelter in other countries. This not only about the economy but also about values culture, family society etc.



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Samata Kotasak, Samata Ekakayak forums draw large crowds in Anuradhapura & Jaffna

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Members of the Jaffna Investor Forum Panel Discussion (L – R): Ms. Sheena Goonaratna, Senior Manager – External Relations, Securities & Exchange Commission; Niroshan Wijesundere, Executive Vice President – Marketing, Colombo Stock Exchange; A. Visaahan, Vice President – Research, Asha Securities (Pvt) Ltd; Thillainadarajah Luxchan, Senior Manager, NDB Wealth (Pvt)

The Securities and Exchange Commission of Sri Lanka (SEC) and the Colombo Stock Exchange (CSE) have taken their ‘A Share for Everyone, A Unit for Everyone’ (Samata Kotasak, Samata Ekakayak) initiative to Anuradhapura and Jaffna through investor forums last week, as part of an ongoing islandwide effort to broaden investor participation. The forums were held on 10th September at the Golden Mango in Anuradhapura, and on 12th September at the Tilko Jaffna City Hotel. The forums attracted over 600 participants across both locations.

The “A Share for Everyone, A Unit for Everyone” concept, developed by the Chairman of the SEC, Sen. Prof. D.B.P.H. Dissabandara and launched in July of this year, aims to promote a shared commitment to creating wealth and value within a fair, efficient, orderly, and transparent capital market by ensuring broad and accessible participation for all.

As part of this initiative, the SEC and CSE will continue to host investor forums across the country to strengthen investor education and awareness while promoting broader participation in the capital market beyond the Western Province. By leveraging the CSE’s nationwide reach and the growing interest in equity investments, the programme will provide investors with greater access to Sri Lanka’s capital market through stockbroking firms and unit trust management companies.

“Traditionally, Sri Lankan investors have favoured conventional investment avenues, but it has yielded comparatively fewer returns than the capital market,” remarked Executive Vice President – Marketing, CSE, Niroshan Wijesundera, speaking on the Unit Trust and Stockbrokering firm outreach objectives of the broad-basing initiative.

“Over the medium to long term, capital markets have given higher returns. By setting aside small allocations to invest regularly through professionally managed vehicles such as unit trusts, first-time investors can participate in the capital market, receive higher returns in the medium-to-long-term, and gain experience and confidence. On the other hand, those with experience and knowledge can directly engage with the capital market through a stockbrokering firm. Traditional investments are liable to be taxed, whereas investments in the capital market are capital-gains tax free.”

Speaking on the favourable investment climate, he noted that the Sri Lankan capital market is at a relatively low Price-to-Earnings (P/E) ratio of 11.03x in a global context. “As covered in the presentations at the forums, the Sri Lankan capital market has demonstrated comparative resilience in the face of global market corrections, such as the Middle Eastern crisis. Sri Lanka has withstood bigger shocks, such as past crises, the war, COVID-19, the economic downturn, and the fuel crisis.’’

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“Pulle Madu” to medical school: record intake signals turning point for plantation sector welfare

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Many generations ago, an estate child’s first years began in a cloth hammock strung up near the rows of tea bushes, so a mother could keep working within earshot of her infant. Later a corner in a line room was converted to establish Pulle Madu, where infants and toddlers were sheltered to ensure that plucking by their mothers was not disrupted.

Today, fully equipped Child Development Centers (CDC’s) complete with qualified and trained CDC officers have replaced the old Pulle Madu, to offer children the same level of education and exposure that any child in a city avails. These children receive custodial care, and child development support through these CDC’s, while Early Childhood Centers (ECD) lay greater emphasis on structured early learning through a play-based curriculum, while also providing dedicated spaces for working mothers to breastfeed.

These Centers are the result of the collaborative efforts of the Regional Plantation Companies (RPCs), the Government of Sri Lanka, and key plantation-sector trade unions, including the Planters’ Association of Ceylon. Together, these stakeholders form the tripartite body that established the Planters’ Human Development Trust (PHDT) in 1992, and have since contributed to significant development across the 22 RPCs.

The RPCs collectively spend nearly Rs. 720 million annually to maintain these CDC’s, reflecting the sector’s continued investment in childhood development and the wellbeing of plantation communities. This foundation supports their continued education and health development and, in the long term, helps them progress towards successfully completing the GCE O/L and A/L examinations.

To date, primary school enrolment among children from plantation communities has reached 100%, while approximately 2–3% of students go on to pursue higher education at local universities. Over the past two years, nearly 250 children from plantation families have gained admission to university, marking the highest number recorded by the sector to date. Among them is a young man from Strathspey Estate, now training to be a doctor at Eastern University. “Everything I have achieved is a direct result of my parents’ tireless hard work,” he said, thanking his teachers and the scholarship grant that carried him through school, whose identity is withheld in line with the programme’s standard practice for student privacy.

It also manifests powerfully in Roots to Wings, the university start-up scholarship initiative launched by PHDT in collaboration with the Planters’ Association and other industry partners. “Every year we saw bright students earn a place at university and then risk losing it, not for lack of ability, but because they couldn’t afford a laptop, a set of books, or even proper clothing to arrive on campus with dignity,” explained PHDT Director General Lal Perera. “To correct this situation, after careful study, we facilitated a scheme that bridges the most urgent gap. We cover the immediate start-up costs, while the Regional Plantation Companies, through their CEOs, ensure that the student is carried through to graduation. If a family loses estate housing when a parent retires, we don’t let that end a degree either. Students are granted extensions, and where needed, RPCs provide new housing, supported in part by Indian High Commission grants. Once a child has earned a place at university, we consider it our duty to make sure that place is never lost to circumstance.”

This scheme has become more than financial assistance; it is a lifeline of dignity, continuity, and hope. By addressing the hidden barriers that often derail promising futures, Roots to Wings ensures that talent from the plantation sector is not wasted but nurtured into leadership for tomorrow. It is a model of shared responsibility, where industry stakeholders collectively safeguard the aspirations of youth, transforming vulnerability into opportunity and circumstance into achievement.

The scheme costs an estimated LKR 10 to 15 million a year, funded by various industry stakeholders. The 2024 to 2025 cohort spans 35 Arts students, 22 in Commerce and Management, 13 in Drama and Theatre, 10 in Bio-systems, 7 in Music, 6 in ICT, four each in Medicine and Engineering, three in Engineering Technology, two in Law and 24 across other faculties, a spread once unimaginable on estates where literacy in PHDT’s target areas has climbed from 40 to 84 percent. Specialised degree pathways and vocational opportunities such as Uva Wellassa University’s Bachelor of Science Honours in Plantation Management, vocational training through the National Institute of Business Management and digital learning through the Open University of Sri Lanka has further empowered students with promising academic and career prospects.

The health figures tracked alongside the Department of Census and Statistics and the Family Health Bureau since 1992, shows infant mortality falling from 18.3 per 1,000 live births to 4.65, and under five mortality from 42.6 to 6.26. Maternal mortality, once as high as 150 per 100,000 live births, has fallen close to zero in most recent figures, and stillbirths have dropped from 40 per 1,000 deliveries to under five today. Nearly all deliveries now happen in health institutions, almost every mother receives antenatal care, and every child completes first year immunization, which are gains attributed to better roads, housing, welfare services and preventive healthcare across the estates.

Nutrition support has similarly evolved, with centers moving from contractor-supplied meal packets towards parent-prepared midday meals. A centrally managed kitchen model has also been piloted at Dessford Estate, with a second facility planned at Holyrood Estate. However, officials do acknowledge that nutrition among younger children remains the area needing the most continued investment.

The progress made in improving health outcomes, particularly in reducing infant mortality, is significant. This reflects the RPCs’ continued commitment to community development, which extends to supporting education through scholarship programmes. These initiatives, together with established healthcare and educational support systems, contribute to improving opportunities and outcomes for children and families across plantation communities.

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Ceylinco Life dominates NAFLIA 2026 winning  12 top honours, including 5 National Awards

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Ceylinco Life has reaffirmed its standing as a powerhouse of sales excellence in Sri Lanka’s life insurance industry, securing an outstanding 12 awards at the 2026 edition of the National Forum for Life Insurance Advisors (NAFLIA), including five National Awards that recognised its professionals as the best in the country.

The awards event saw Ceylinco Life’s sales professionals excel at both the Large Company and National levels, with the company claiming top honours across the Advisor, Supervisor and Branch Manager categories in both levels, while also producing two winners in the Large Company level in the Fast Starter Advisor category.

In the Advisor category, A. P. S. Wijayakumar secured first place at National and Large Company Level, while A. I. P. Manjula was placed second in both levels, giving Ceylinco Life four awards across the two tiers of recognition in this category.

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