News
Lanka and China strengthen economic ties at high-level Colombo forum
The Sri Lanka – China Trade and Investment Forum 2025, held on Friday in Colombo, brought together over 115 senior representatives from 77 leading Chinese enterprises alongside key members of Sri Lanka’s public and private sectors. The high-level event was co-hosted by The Ceylon Chamber of Commerce, the Department of Commerce of Sri Lanka, the Sri Lanka–China Business Council of the Ceylon Chamber, and the China Chamber of Commerce for Import and Export of Machinery and Electronic Products (CCCME).
The Forum was inaugurated in the presence of Dr Anil Jayantha Fernando, Minister of Labour and Deputy Minister of Economic Development, Wang Wentao, Minister of Commerce of the People’s Republic of China, Chinese Ambassador Qi Zhenhong and Krishan Balendra, Vice Chairman of The Ceylon Chamber of Commerce.
Welcoming the delegation, Minister Jayantha highlighted Sri Lanka’s deep-rooted friendship with China, noting that bilateral ties are built on “shared values, mutual respect, and a history of growing economic cooperation.” Referring to the recent 8th Session of the China-Sri Lanka Joint Committee on Economic and Trade Cooperation, held just ahead of the Forum, he highlighted the importance of continuous dialogue in enhancing trade and investment flows between the two nations.
Minister Wentao emphasized that China stands ready to support Sri Lanka’s development journey, recommending that the two countries expand trade and economic cooperation to boost development, and explore more opportunities for multilateral trading systems in order to ensure resilience and sustainability.
Krishan Balendra, Vice Chairman of the Ceylon Chamber, echoed the Minister’s sentiments, emphasising the Chamber’s commitment to enabling cross-border partnerships and offering a platform for constructive engagement. “We are creating a conducive environment for doing business, underpinned by transparency, predictability, and sustainability,” he noted.
The Chinese delegation, representing four major trade chambers – CCCME, China Chamber of Commerce of Import and Export of Foodstuffs, Native Produce and Animal By-products, China Chamber of Commerce for Import and Export of Textiles, and the China International Chamber of Commerce for the Private Sector – expressed strong interest in forming partnerships across a wide array of sectors.
The Forum also facilitated B2B meetings and discussions on investments in the automotive value chain, tea plantation and enterprise development, and partnerships in renewable energy, clean technology, engineering, construction, and water treatment.
During an operation conducted in the dark hours of 01 Jan 26, the Sri Lanka Navy seized an Indian fishing boat and apprehended 11 Indian fishermen while they were poaching in Sri Lankan waters, off Kovilan of Kareinagar, Jaffna.
The Northern Naval Command spotted a group of Indian fishing boats engaging in illegal fishing, trespassing into Sri Lankan waters. In response, naval craft of the Northern Naval Command were deployed to drive away those Indian fishing boats from island waters off Kovilan.
Meanwhile, compliant boarding made by naval personnel resulted in the seizure of one Indian fishing boat and apprehension of 11 Indian fishermen who continued to engage in illegal fishing in Sri Lankan waters.
The seized boat (01) and Indian fishermen (11) were handed over to the Fisheries Inspector of Myliddy, Jaffna for onward legal proceedings.
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Tri-Forces donate LKR. 372 million, a day’s pay of all ranks to ‘Rebuilding Sri Lanka’ Fund
Members of all ranks from the Sri Lanka Army, Sri Lanka Navy and Sri Lanka Air Force have collectively donated a day’s basic salary to the ‘Rebuilding Sri Lanka’ Fund, which was established to restore livelihoods and rebuild the country following the devastation caused by Cyclone Ditwah.
Accordingly, the total contribution made by the Tri-Forces amounts to LKR. 372,776,918.28.
The cheques representing the financial contributions were handed over on Wednesday (31 December) at the Presidential Secretariat to the Secretary to the President, Dr. Nandika Sanath Kumanayake.
The donations comprised LKR. 250 million from the Commander of the Army, Major General Lasantha Rodrigo; LKR. 73,963,879.71 from the Commander of the Navy, Rear Admiral Kanchana Banagoda and LKR. 48,813,038.97 from the Commander of the Air Force, Air Marshal Vasu Bandu Edirisinghe.
Secretary to the Ministry of Defence, Air Vice Marshal Sampath Thuyacontha, was also present on the occasion.
The Ceylon Electricity Board (CEB) has submitted a proposal to the Public Utilities Commission of Sri Lanka (PUCSL) seeking an 11.57 percent increase in electricity tariffs for the first quarter of 2026, citing an estimated revenue shortfall and additional financial pressures, including cyclone-related damages.
According to documents issued by the PUCSL, the proposed tariff revision would apply to electricity consumption from January to March 2026 and includes changes to both energy charges and fixed monthly charges across all consumer categories, including domestic, religious, industrial, commercial and other users.
Under the proposal, domestic electricity consumers would face increases in unit rates as well as fixed monthly charges across all consumption blocks.
The CEB has estimated a deficit of Rs. 13,094 million for the first quarter of 2026, which it says necessitates the proposed 11.57 per cent tariff hike. The utility has noted that any deviation from this estimate whether a surplus or a shortfall will be adjusted through the Bulk Supply Tariff Adjustment (BSTA) mechanism and taken into account in the next tariff revision.
In its submission, the CEB said the proposed revision is aimed at ensuring the financial and operational stability of the power sector and mitigating potential risks to the reliability of electricity supply. The board-approved tariff structure for the first quarter of 2026 has been submitted to the PUCSL for approval and subsequent implementation, as outlined in Annex II of the proposal.
The CEB has also highlighted the financial impact of Cyclone Ditwah, which it said caused extensive damage to electricity infrastructure, with total losses estimated at around Rs. 20 billion. Of this amount, Rs. 7,016.52 million has been attributed to the first quarter of 2026, which the utility said has a direct bearing on electricity tariffs.
The CEB warned that if external funding is not secured to cover the cyclone-related expenditure, the costs incurred would need to be recovered through electricity tariffs in the second-quarter revision of 2026.
Meanwhile, the PUCSL has said that a decision on whether to approve the proposed tariff increase will be made only after following due regulatory procedures and holding discussions on the matter.
By Sujeewa Thathsara ✍️
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