Business
‘Hambantota Port and Port City should be run on P-P-P basis to reap full benefits’
By Hiran H.Senewiratne
“The government should have a stable system to tackle the Covid 19 pandemic situation. It should have a short term to long term economic plan to arrest the economic crisis that has resulted from the pandemic. In the short term perspective, the government should go for short term foreign exchange borrowings at a nominal interest rate; selling liquid assets. However, Hambantota Port and the Port City projects have to be private-public partnership projects, to enable the country to get the maximum benefits out of them, Professor of Economics, University of Colombo Sirimal Abeyratne said
“The current Covid 19 pandemic has further aggravated the local economy which is already marred by inconsistent economic policies and poor fiscal management for which every government that has come to power so far is responsible, Abeyratne said.
” The problems of Sri Lanka are unique even without the Covid 19 pandemic. The economy of the country has clearly not moved in the proper direction over the years. The economy had been rendered weak due to scarce foreign reserves, poor fiscal policy management and the slow exploration of export markets in the recent past, Abeyratne told The Island Financial Review yesterday.
Abeyratne added: “Bilateral and multilateral short term borrowings should be obtained subject to conditions which are beneficial to the country. If not, the problem would further deteriorate with the high debt servicing cost.
“At present, import restrictions imposed by the government are a prudent move to preserve foreign exchange, which at present stands at US $ 4 billion, ample for three months’ imports.
‘At this juncture, the government should focus on economic growth strategies and improve export oriented markets. When it comes to economic growth, a prudent fiscal management mechanism is the need of the hour, which would enhance the effective management of government spending and its revenue.
“Since the local domestic market is small it is very important to attract foreign direct investments into the country. We should at least attract US$ one billion worth foreign investments into the country.
“Sri Lanka’s investment climate is not encouraging because of policy issues and regulatory issues. The government should now take some steps to address those issues to attract FDIs into the country.
“In the recent past, several economies in the region have overtaken Sri Lanka because those countries have placed their economic fundamentals properly. Unfortunately, inconsistent economic policies have affected our economic development very badly.”
Business
HNB Finance bags 2 CMA Reporting Awards 2025
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.”
Business
ComBank joins ‘Liya Shakthi’ scheme to further empower women-led enterprises
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.
Business
Prima Group Sri Lanka supports national flood relief efforts with over Rs. 300 Mn in dry rations
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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