Business
It’s high time Sri Lanka brought SOE privatisation to the policy table: Advocata
Sri Lanka is already in one of the worst economic crises in its history. Experts warn that deep economic reforms are essential.
Reforming SOE’s can curb further losses, which add to the fiscal deficit.
The Cumulative losses of the 55 SOEs from 2006-2020 was a staggering 1.2 trillion.
Disposing of State Owned Enterprises which are a burden on the public finances, is the crucial need of the hour.
Immediate privatisation of large State Owned Enterprises, will build international investor confidence.
“Some big government enterprises are not responsive to our needs. And because they’re not responsive, you will go home today and you will have a blackout of one hour, because they are load shedding during peak hours ,” says Prof. Rohan Samarajiva, a veteran policy expert and an advisor of the Advocata Institute.
He made these comments at Advocata’s recent press briefing, organised to highlight the urgency of carrying out reforms to State Owned Enterprises (SOE).
“The basic issue is that we, in this country, are suffering from a twin deficit. We need to get started on addressing the core problem”, further stressed professor Rohan Samarajiva.
According to Prof. Samarajiva privatising a globally visible, yet loss making SOEs such as SriLankan Airlines is the best solution to create confidence among investors that Sri Lanka is serious about reforms.
Sri Lanka’s SOEs are a serious burden on public finances. With the economic crisis reaching a tipping point, it is becoming increasingly impossible to keep these loss making enterprises afloat. The continuation to do so, at the expense of the taxpayer can have serious consequences to the economic trajectory of the nation.
Advocata Institute’s research team has identified that the cumulative losses of the 55 SOEs from 2006-2020 is a staggering 1.2 trillion. The combined loss per day of the Ceylon Petroleum Corporation, The Ceylon Electricity Board , Sri Lanka Airlines, Sathosa and the National Water Supply and Drainage Board is about LKR 384,479,189, according to data for the year 2019. This is at the backdrop, where the country is wading through a serious debt crisis with questions surrounding our ability to meet forthcoming debt obligations.
The briefing brought together a panel of industry experts who raised alarm bells on why Sri Lanka cannot afford to be complacent about State Owned Enterprise reforms anymore.
Prof. Rohan Samarajiva, further explained the seriousness of this issue along with how privatisation can achieve positive outcomes for the country.
“In 1997, Sri Lanka Telecom was making losses and providing bad services. Today, after privatisation, it is providing us with good services and employment and double of what they were earning. It is also providing the government with a dividend which generated billions to the government”. He highlighted that the country has no other alternative to prevent the hemorrhaging losses of State Owned Enterprises apart from privatisation.
“Privatisation is not a one size fits all model, it is different in different countries and sectors – as seen in the telecommunication industry in Sri Lanka – with a good regulator, we can have competition, leading to greater efficiency and making technology accessible to the common public” commented Ms. Anarkali Moonesinghe, Advisor to the Advocata Institute.
She further elaborated that possible avenues for privatisation that can be considered include listing of State Owned Enterprises in the stock exchange. According to Ms. Moonesinghe, “our stock market could use large capital companies that are owned by the government today. It not only gives people ownership but also broadens ownership by giving the average person an opportunity to become a direct stakeholder to these enterprises. This can be a better option than attaching the person through taxpayer money or having your EPF/ETF being taken into these enterprises”, thereby describing the merits of listing.
Dr. Sarath Rajaptirana, Advocata’s Academic Chair, said that the present crisis makes two choices available to us, which is “reform or perish ”. He highlighted the urgency of implementing structural reforms. He further commented that the key issue with State Owned Enterprises lies in productivity.
” For over 30 years, Sri Lanka’s total factor productivity was less than 1%,.This is in severe contrast to countries such as South Korea and Vietnam, where a jump in productivity is experienced today which we were never able to maintain . If you want permanent change in the GDP rate, you need to have productivity increase” said Dr. Rajaptirana.
Business
UN Global Compact Network Sri Lanka mobilizes business to lead with purpose
As businesses navigate an increasingly complex operating environment shaped by workforce transformation, evolving stakeholder expectations, technological disruption and shifting market demands, strengthening performance requires more than new strategies. It requires new ways of thinking, leading, and collaborating.
It was against this backdrop that UN Global Compact Network Sri Lanka convened CATALYZE 2026: Social, bringing together business leaders, sustainability practitioners, policymakers, development partners and industry experts to mobilize collective action and equip businesses with the knowledge, partnerships and practical approaches needed to strengthen performance through responsible business.
More than a forum for dialogue, CATALYZE 2026 was designed to help businesses think differently about performance. It reinforced that long-term success is increasingly shaped by how organizations lead, uphold human rights, foster inclusive workplaces, strengthen ethical governance, and build cultures that enable innovation, resilience and trust. Responsible business is no longer separate from business performance — it is fundamental to it.
Aligned with the UN Global Compact’s 2026–2030 Global Strategy, the Forum reflected its three strategic pillars — Equip, Catalyze and Advance — by strengthening business capability, fostering collaboration and mobilizing leadership to accelerate progress on social sustainability.
UN Global Compact Network Sri Lanka’s approach to social sustainability centres on driving this change — recognizing that meaningful progress comes not only through policies and commitments, but through the everyday decisions, leadership behaviours and organizational cultures that shape how businesses operate. CATALYZE 2026: Social encouraged participants to move beyond intention towards implementation, embedding responsible business practices into strategy, governance and organizational culture.
Opening the CATALYZE 2026: Social, Rathika de Silva, Executive Director of UN Global Compact Network Sri Lanka, spoke to the role of responsible business leadership in strengthening Sri Lanka’s global competitiveness:
“Sri Lanka has the workforce, resilience, and opportunity to compete not by being the cheapest producer, but by becoming the most trusted. As global expectations evolve, compliance is no longer simply a cost of doing business — it is the foundation of market access, and the decisions we make today will determine how strongly we compete in the markets of the future.”
The Forum featured keynote addresses, leadership dialogues and technical sessions on the issues shaping the future of business, including business integrity and anti-corruption, human rights, neurodiversity and inclusive workplaces, artificial intelligence and the future of jobs, the Women’s Empowerment Principles (WEPs), responsible sustainability communications, and workforce resilience. Together, these discussions highlighted how responsible leadership, inclusive practices, and strong governance contribute to organizational resilience, innovation, and long-term performance.
Business
A regional conversation on the future of English language teaching
Free British Council online conference brings together leading educators from across South Asia to explore how creativity, inclusion and technology can help prepare learners for a rapidly changing world
The British Council has announced the South Asia TeachingEnglish Online Conference 2026, a free three-day event that will convene educators, researchers and teacher educators from across the region to examine one of the most pressing questions facing education today: how can schools equip learners with the creativity, adaptability and communication skills needed to thrive in an increasingly complex world?
Taking place from 23–25 July 2026, the online conference comes at a time when education systems across South Asia are grappling with the challenge of balancing curriculum demands, assessment pressures and evolving learner needs. While English remains a critical gateway to academic and professional opportunities, educators are increasingly seeking approaches that move beyond language acquisition alone to foster critical thinking, collaboration, learner agency and participation.
Business
The Ceylon Chamber convenes dialogue on energy security and standards for Sri Lanka’s energy transition
The Ceylon Chamber of Commerce recently hosted a discussion titled “Energy Transition in Sri Lanka: Strategic Insights from Global Markets”, bringing together representatives from the public and private sectors, industry experts, academics, and other stakeholders to examine the opportunities and challenges associated with Sri Lanka’s evolving energy landscape.
Held at a time when countries around the world are accelerating their transition towards cleaner, more resilient, and technology-driven energy systems, the event provided a timely platform to examine renewable energy not only as an environmental priority but as a strategic pillar of national energy security, with implications for economic growth and long-term competitiveness. The discussion also considered the increasing importance of reliable energy infrastructure in meeting the growing demands of digital transformation, including emerging technologies such as artificial intelligence, electric mobility, and data centres.
The programme covered a wide range of topics relevant to Sri Lanka’s energy future, including renewable energy development, energy security, regulatory and policy frameworks, electricity sector reforms, energy storage systems, grid modernization, investment and financing considerations, and international experiences in energy transition. Particular attention was given to the need for creating an enabling environment that supports innovation, attracts investment, including the technical and safety standards required to protect consumers and businesses as storage and solar adoption scales nationally.
-
News5 days agoLAWASIA warns against ad hoc initiative to increase judges’ retirement ages
-
Features4 days agoClimate action to bring South Asia together
-
News4 days agoChamuditha to seek removal of injunction on Youtube programme
-
News7 days agoAnother 1,132 Sri Lankan Personnel to be deployed for United Nations Peacekeeping Missions
-
Features6 days agoPeople’s Bank expands digital banking network with 125th cheque deposit kiosk
-
News1 day agoSLAF conducts successful rescue mission under UN command in Central African Republic
-
News1 day agoCIABOC to question Harak Kata on Rs. 200 mn bribery allegation
-
News4 days agoCPRP alleges another death in custody, seeks protection for witness
