Business
Eran outlines practical solutions aimed at resolving corruption and other issues
Samagi Jana Balavegaya M.P Eran Wickramaratne recently unveiled the following eleven-point blueprint for the country’s economic development under a future SJB government. Eran Wickramaratne, who is a member of the SJB’s Centre for Economic Policy, outlined his project titled, ‘The Correct Direction of the Economy’ at a forum attended by the local business community, at the Hilton Hotel on February 14.
Following is a transcript of Eran Wickramaratne’s address:
One of the things we will do immediately is making the CBSL independent
We know what happened with printing of money and inflation and the consequences resulting from them.
Monetary Policy of the CBSL will be independent from the Fiscal Policy of Treasury.
The law was drawn in 2019. The then Secretary to Treasury Dr .R.H.S Samaratunge, CBSL Governor Dr. Indrajith Cooomaraswamy, Dr. Nandalal Weerasinge, Minister of Finance at that time Mangala Samaraweera and myself as the State Minister of Finance and other officials were all involved in it. I am calling upon the present government to bring in this piece of legislation even before we come to office, otherwise it will be the first legislation we will enact.
Bribery and corruption
If we are going to build this country, we must focus on some special issues. Bribery and corruption must be stopped.
Politicians like us, high-level officials, must publicize our assets and liabilities. I beg you, you don’t have to wait for the law to come in. As a private member, I have submitted a bill to parliament regarding disclosure of assets and liabilities, and I am asking the government to make that bill law.
Special attention will be focused on anti-corruption measures, as they are a panacea for all ills in governance. Country cannot be changed only by law but by the example of leaders.
We urge the govt. to bring in the law which has already been submitted as a private member’s bill to enable the publicising of assets and liability declarations of politicians and those of senior officials.
There is no need to wait for the draft, I request President Ranil Wickremesinghe.
There is no need for a law to exist; make your declaration of assets and liabilities public.
There are two other former Presidents in parliament, Mahinda Rajapaksa and Maithripala Sirisena, and I request them also to make their assets declarations public. This is an exemplary act that could be gone through forthwith by rulers. Countries don’t change only by law-making, on the contrary, countries change by the examples of leaders.
Therefore, I called upon the present and former Presidents who are sitting in parliament to go public with their Asset Declarations which will compel MPs, such as myself and high officials in this country, to be accountable to the public.
Secondly: Make CIABOC independent. Now it is not independent. When a theft is reported, people are tracked down and police officers are appointed by the government to investigate it. As soon as the government changes, those officials are transferred out of it. It completely disrupts the investigations. This is the type of anti-corruption system this country has. So the law to make the Commission independent is a must.
The third point is: The Star Program. The Stolen Assets Recovery Program, a program of the United Nations. We will bring a law to implement this program. According to that law, even if such stolen resources are hidden in Sri Lanka or in a foreign country, they could be traced and brought back to the country.
The fourth point related to bribery corruption is: For example, today a person could be a minister, tomorrow he may get involved in stealing. Today the Attorney General’s Department could be his counsel, tomorrow the Attorney General could file a case against him. We need to get rid of this system. A conflict of interest is evident here. That is why we demand that there should be an independent prosecutor’s office in this country.
If we put an end to bribery and corruption, others will be fixed automatically. I don’t have to tell you as businessmen, this is an environment where bribes have to be paid from the bottom to top. Therefore, to move our country forward, we must change it and we will change it. These are some measure we intend to do to fight corruption.
The other thing we intend to do is to create;
A Unified Revenue Collection Authority
This is very important. Businessmen do pay taxes. 75 per cent or more of Sri Lanka’s revenue comes from three main institutions, namely, Inland Revenue Dept, Sri Lanka Customs Dept and the Excise Dept, I believe none of you would have accused me or Mangala Samaraweera of stealing a rupee or a dollar, even while we were in office. But the level of corruption in those departments did not go down. Therefore, we can’t rely on individuals, we have to initiate systemic changes. That is why we are going to put in place a Unified Revenue Collection Authority.
As businessmen when you import goods you go to your bank and open an LC and you have to get it cleared. You go to the Customs, I don’t need to tell the rest of the story. Customs only become the clearing hub. Excise and Inland Revenue similarly. You can use technology and these are not new ideas, other countries have done these things. Assessment is done in one place; payment is made centrally; interactions with officials become minimal. Instructions go to the Customs and the payment is centrally made and the goods can be cleared from the Customs.
To be Continued
Business
World Bank puts USD 110m into climate-resilient road rebuilding
By Ifham Nizam
The World Bank has approved USD 110 million in additional financing to rebuild around 600 kilometres of roads damaged by Cyclone Ditwah, with the investment aimed not merely at restoring connectivity but at making critical transport infrastructure more resilient to future climate shocks.
The financing comes against a much larger recovery requirement for the transport sector, estimated at USD 1.31 billion, highlighting the scale of the infrastructure challenge following one of the most destructive weather disasters to hit the country in recent years.
The World Bank said the additional financing, provided through the International Development Association (IDA) Crisis Response Window, would support road reconstruction incorporating improved drainage, landslide protection and upgraded engineering standards.
‘Cyclone Ditwah has had a devastating impact on connectivity across Sri Lanka, but rebuilding also gives us an opportunity to build back stronger, said Gevorg Sargsyan, World Bank Group Country Manager for Sri Lanka and Maldives.
The World Bank said the programme would go beyond repairing damaged roads, helping reconnect farmers with markets, communities with essential services and households with economic opportunities.
The additional financing will extend the Inclusive Connectivity and Development Project (ICDP) by three years, taking total World Bank transport investment under the operation to USD 610 million.
The World Bank’s December 2025 GRADE assessment estimated Cyclone Ditwah had caused USD 4.1 billion in direct physical damage, equivalent to around four percent of GDP. Infrastructure accounted for approximately USD 1.735 billion, or 42% of the total, with roads, bridges, railways and water systems among the heavily affected assets.
The Bank has stressed that the USD 4.1 billion estimate measures direct physical damage and does not include income or production losses or the full cost of recovery and reconstruction.
The transport sector alone suffered extensive disruption, making the rebuilding of road networks a critical component of the broader economic recovery.
The latest USD 110 million package is expected to directly benefit more than 830,000 people, while nearly two million people across eight districts are expected to benefit from improved connectivity.
The programme is also expected to support employment during reconstruction and improve market access for approximately 22,000 tea, vegetable and paddy farmers.
The World Bank’s intervention therefore combines immediate disaster recovery with a longer-term infrastructure objective: ensuring that money spent on reconstruction does not simply restore roads to their pre-disaster condition but reduces their vulnerability to the next extreme-weather event.
That approach is becoming increasingly important as climate-related disasters place additional pressure on already constrained public finances.
Rebuilding the same infrastructure repeatedly after floods, landslides and other disasters carries a significant economic cost, making resilience an increasingly important part of infrastructure investment decisions.
Business
SLIC Life offers Rs.1million free life cover to parents of children born on World Children’s Day 2026
In celebration of World Children’s Day 2026, Sri Lanka Insurance Life (SLIC Life) has once again extended a Rs. 1 million free life insurance cover to the parents of every child born on 1 October 2026, across Sri Lanka. Now in its fifth consecutive year, the initiative was implemented island-wide, covering hospitals across the country and enabling parents of newborns to benefit from this special offering.
Beyond providing financial protection, the initiative seeks to highlight the importance of planning for a family’s financial security from the very beginning of a child’s life.
“The birth of a child marks the beginning of a new journey filled with hopes, dreams and aspirations. At SLIC Life, we believe that protection should begin from the very start of that journey. Through this initiative, we aim to create greater awareness of the importance of planning ahead and the role life insurance can play in safeguarding families against life’s uncertainties. As we continue this initiative for the fifth consecutive year, we remain committed to extending meaningful protection to Sri Lankan families and contributing towards a more secure future for the next generation,” said Dr. Sameera Dharmasena, Chief Executive Officer of SLIC Life.
Launched in 2022 as part of SLIC Life’s Corporate Social Responsibility (CSR) programme, the World Children’s Day initiative was introduced with the aim of supporting parents and strengthening financial security for families at an important stage in their lives. Over the years, the initiative has become a significant part of SLIC Life’s annual CSR calendar, reflecting the company’s broader commitment to children, families and communities.
SLIC Life’s commitment to children and education extends across several long standing CSR initiatives. The ‘Pasal Piriyatha Surakimu’ programme, launched in 2007, has benefited over 3,365 underprivileged schools through initiatives including classroom refurbishments, water facilities, libraries and learning resources. The 2026 edition of the programme is scheduled to be carried out in November, continuing SLIC Life’s efforts to enhance learning environments for children across the country. Complementing this, the ‘Suba Pathum Scholarship Programme’, which has been conducted since 2014, has now awarded 2,425 scholarships valued at Rs. 265 million to children of policyholders who demonstrate excellence in national examinations. The programme reflects SLIC Life’s continued focus on supporting educational aspirations and creating opportunities for the next generation.
Children remain at the heart of SLIC Life’s commitment to building a more secure future. Through the annual World Children’s Day initiative and its wider CSR programmes, SLIC Life continues to demonstrate that the value of insurance extends beyond financial protection, contributing to stronger and more resilient families and communities.
Business
HelpAge thanks donors for helping in carrying out free cataract surgery program
At a recent seminar HelpAge Sri Lanka (HASL) thanked local and foreign donors for strengthening the on-going free cataract surgeries program conducted by HelpAge Eye Hospital, Wellawatta for less- privileged elders over 55 years.
According to HelpAge Eye Hospital statistics the free cataract surgery programme was commenced in 2002 and over 55,000 surgeries have so far been performed for elderly citizens.
Head of HelpAge Eye Hospital Mahanama Wijesinghe said needy persons over 55 years of age could contact the hospital on telephone numbers 0112555759 and 0112589450 for free cataract surgeries.
‘Steps have been taken to conduct surgeries within a short duration of 30 days after attending the Eye Hospital clinic, he said.
Wijesinghe thanked all donors for their donations towards helping underprivileged citizens of the country.
HelpAge, Executive Director Dr. Harsha Bandara said HelpAge also conducts free medical and eye camps for needy elders and thanked donors for their donations towards this meritorious cause.
He requested philanthropists and donors to make their contributions for the sake of the needy.
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