Business

‘Ground realities should correspond to President’s words’

Published

4 years ago

2022/08/10

The National Peace Council called on the government to restore political stability.

“The immediate need is to restore political stability. The route to follow is not Emergency rule, by cracking down on the protesters and their leaders, but to find ways and means of engaging with them in a nonviolent manner and address the root causes that brought tens of thousands of citizens, young and old, to the streets, countrywide,” the NPC said in a statement.

It said: President Ranil Wickremesinghe’s inaugural address to Parliament set forth a vision of good governance and civility that would stand among the most outstanding in the world. His speech comes at a time when several leaders of the protest movement, and youth activists, have been arrested for having violated the law during the public protests that led to the resignations of the former President Prime Minister and Cabinet of Ministers of the country.

The National Peace Council congratulates the President on his assumption of office and pledges our support to make his vision a reality. We see the government, headed by the President, is taking forward several new initiatives to improve the current situation. The system change, the protest movement and youth of the country are seeking, is a transformation of the existing structures, both within and outside the current Parliament, which contributed to the collapse of the economic fabric of the country.

We have five specific requests to make of the President at this time.

1. The Cabinet has approved the proposed 22nd Amendment to strengthen the system of checks and balances. Three of the 10-member Constitutional Council will represent civil society. However, the discretion is given to the Speaker to pick them, which makes it likely that the choice will be in favour of the government. Therefore, we call for the civil society representatives to be appointed as in the 19th Amendment by both the Prime Minister and Opposition Leader together.

2. In his inaugural address, which was welcomed by many for its content and delivery, the President repeated his call for an all-party government. Earlier he had written to all parliamentarians regarding this. We urge the President to establish the all-party government in a manner that would give equal weight to each of the political parties in Parliament, irrespective of their size or numbers. The Cabinet needs to be established in such a manner that each party feels that they have a say in the governance, otherwise it will be a show only.

3. The significant role that the protest movement has made to the rise of the President to his present position has been recognided by the President who has offered them places in the national policy council, which is yet to be established. Additionally, we call for representation of members of the protest movement in the all-party government.

4. We urge the President to recognise the exceptional nature of the public protests that included youth, entire families and spanned the communities as the President noted in his inaugural address. We call on him to grant a blanket amnesty/pardon to those currently being held in custody or being subjected to legal action. Being magnanimous towards the youth and others who contributed to ushering in the change of political leadership needs to be done without resorting to Emergency rule.

5. The economic difficulties, the country is going through and its present inability to earn more than it spends, will require significant restructuring of the economy and livelihoods and living standards of the people. This will require a government that has the people’s backing and a fresh mandate. We call for elections to be held, within a time frame of a year, and that the long-postponed provincial elections, which are especially important to the minority communities, should also be held.

Unfortunately, the spate of arrests of leading members of the protest movement have cast a pall of gloom over the country which the President’s inaugural address can dispel if words are the precursor to change on the ground. It is essential that they do or else the hope of political stability and getting out of national economic distress will prove to be elusive.

The immediate need is to restore political stability. The route to follow is not Emergency rule by cracking down on the protesters and their leaders but to find ways and means of engaging with them in a nonviolent manner and address the root causes that brought tens of thousands of citizens young and old to the streets countrywide. The legitimate demands of people who have seen their living standards crash in a matter of months should be addressed through dialogue with them and not by assuming Emergency powers and engaging in witch hunts to silence the dissenting voices.

The National Peace Council is an independent and non partisan organization that works towards a negotiated political solution to the ethnic conflict in Sri Lanka. It has a vision of a peaceful and prosperous Sri Lanka in which the freedom, human rights and democratic rights of all the communities are respected. The policy of the National Peace Council is determined by its Governing Council of 20 members who are drawn from diverse walks of life and belong to all the main ethnic and religious communities in the country.

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Business

PM ‘Rings the Bell’ at CSE to champion financial literacy and investor education

Published

5 hours ago

2026/10/7

Sahan Weerasooriya

P.M. Dr.Harini Amarasuriya

As part of World Investor Week (WIW) 2026, the Securities and Exchange Commission of Sri Lanka (SEC) and the Colombo Stock Exchange (CSE) joined stock exchanges around the world in ringing the market opening bell for financial literacy on 5 October 2026, under the patronage of Dr. Harini Amarasuriya, Prime Minister of the Democratic Socialist Republic of Sri Lanka.

World Investor Week is an annual global campaign led by the International Organization of Securities Commissions (IOSCO) to raise awareness of the importance of investor education and investor protection. The “Ring the Bell for Financial Literacy” initiative, pioneered by the World Federation of Exchanges (WFE), brings together stock exchanges and other stakeholders worldwide to promote greater financial literacy and encourage individuals to make informed financial decisions.

The ceremony also marked the 40th anniversary of the CSE and the joint launch by the SEC and the CSE of the Stock Market Game, an online stock market simulation based on the ATrad trading system.

The Stock Market Game enables participants to gain practical experience of how the stock market works, make investment decisions and construct portfolios of listed shares without using real money. The platform is accessible through the websites of the SEC and CSE and is expected to serve as an important practical tool for promoting financial education. It is envisaged that the Stock Market Game will also be used to conduct simulation competitions among universities and the 100 Capital Market Clubs established in schools across the country.

The ceremony also featured the commemorative issuance of a stamp and First Day Cover to mark the 40th anniversary of the CSE. Issued in collaboration with the Department of Posts and the Philatelic Bureau of Sri Lanka, the commemorative stamp and First Day Cover were presented to Prime Minister Dr. Harini Amarasuriya, by the SEC Chairman Snr. Prof. D.B.P.H. Dissabandara and Ray Abeywardena, Director CSE and Chairman of Central Depository Systems (CDS).

Welcoming the gathering, Rajeeva Bandaranaike, Chief Executive Officer of the CSE, highlighted the importance of obtaining reliable information when making investment decisions.

“We operate in a digital world where a vast amount of information and data is disseminated through social media. While some of this information is factual, some may be inaccurate or misleading. When investing in the stock market, it is essential to make informed and prudent investment decisions. Therefore, investors should obtain information and data from reliable and responsible sources and persons before making investment decisions.”

Addressing the gathering, SEC Chairman Snr. Prof. D.B.P.H. Dissabandara emphasised that the SEC’s role extends beyond regulation to facilitating the further development of the capital market.

“The SEC needs to determine how best to introduce the stock market to Generation Alpha, Generation Beta and generations beyond. When it comes to investors, we need to build confidence in the market, because people will invest only when they have confidence in the market.’’

Business

Rs. 5 million worth of prizes to be given at 8th edition of CSE Masterminds Quiz Competition

Published

6 hours ago

2026/10/7

Sahan Weerasooriya

The Colombo Stock Exchange (CSE) has announced that the eighth edition of the CSE Masterminds Quiz will be held on 9th October 2026, from 3.00 p.m. onwards, at the Main Ballroom, Shangri-La Colombo.

Recognised as Sri Lanka’s premier capital market quiz competition, CSE Masterminds brings together teams from the public and private sectors. Participants will be tested across international business, global markets, current affairs, the Sri Lankan economy and business, the Sri Lankan stock market, and sports and entertainment, before a concluding rapid-fire round.

This year the winning team can win up to Rs. 2,000,000, the runners-up up to Rs. 1,000,000, and the second runners-up Rs. 750,000. Sector awards will also be presented to the highest-performing team from each participating sector. Guest participants will also be able to compete in rounds of Audience questions, and will have the opportunity to participate a raffle draw for three free return tickets provided by Fits Aviation (Pvt) Ltd.

The evening will also include an exclusive after-party with live music provided by the band ‘Doctor’ featuring guest performer Umara Sinhawansa, fine food and beverages, providing an opportunity for networking and celebration. Every participant will receive a premium goodie bag made possible by the support of the event’s sponsorship partners. Collectively, the event will feature over Rs. 5 million worth of prizes, rewards, and giveaways, encompassing championship prizes, sector awards, audience engagement prizes, raffle draw offerings, and goodie bags.

Sponsorship partners include:

Platinum Sponsors: Hatton National Bank PLC and Bartleet Religare Stockbrokers (Pvt) Ltd.

Gold Sponsors: Ex-Pack Corrugated Cartons PLC, Asha Securities Ltd., and Lanka Securities (Pvt) Ltd.

Silver Sponsors: Barista Coffee Lanka (Pvt) Ltd., Capital Trust Holdings (Pvt) Ltd., LOLC Holdings PLC, Arpico Ataraxia Asset Management (Pvt) Ltd., IronOne Technologies (Pvt) Ltd., and LankaPay (Pvt) Ltd.

Co-Sponsors: Access Engineering PLC, Bank of Ceylon, Commercial Bank of Ceylon PLC, CryptoGen (Pvt) Ltd., Deloitte Lanka (Private) Limited, Dialog Finance PLC, Efutures (Pvt) Ltd., People’s Leasing & Finance PLC, Senfin Asset Management (Pvt) Ltd., and Softlogic Stockbrokers (Pvt) Ltd.

Business

NCCSL to conduct practical workshop on food labelling and advertising regulations in Sri Lanka

Published

6 hours ago

2026/10/7

Sahan Weerasooriya

The National Chamber of Commerce of Sri Lanka (NCCSL) is organizing a one-day practical workshop on “Food Labelling & Advertising Regulations in Sri Lanka” on Thursday, 8th October 2026 from 9.00 a.m. to 4.30 p.m. at the National Chamber of Commerce, Colombo 10. The workshop has been organised to provide a practical understanding of the latest regulatory requirements governing the food products labelling and advertising of food products in Sri Lanka, with particular attention to regulatory developments applicable in 2026, compliance requirements, and the potential legal and financial implications of non-compliance.

As food products increasingly compete not only with quality and price but also on packaging, labelling and promotional claims, businesses must ensure the information they communicate to consumers is accurate, transparent and consistent with applicable regulatory requirements. Understanding these requirements is therefore essential for businesses seeking to protect their brands, maintain consumer confidence, and minimize regulatory and legal risks.

The practical workshop will go beyond an overview of regulations and focus on how businesses can apply regulatory requirements in their day-to-day operations. Participants will be guided through key areas of food regulatory compliance, including the national food regulatory framework, recent food labelling regulations and key changes, mandatory approvals and prohibitions relating to food labelling, and the litigation process associated with regulatory violations. The programme will also cover several areas of growing importance to the food industry, including the EU EMPCO Directive, food colour coding regulations, regulations relating to food trans-fatty acids and the importance of compliance in the use of food additives. Practical exercises will further enable participants to apply their knowledge to real-world compliance situations and strengthen their ability to identify potential regulatory concerns.

For further information and registration, please contact the National Chamber of Commerce of Sri Lanka on 011 4741788 – Nethmi or Udula – 071 403 4775.