Business
Local retail industry: the hardest hit by the FOREX crisis calls for solutions

The retail industry has been under tremendous pressure to deliver during the past one and a half years, mainly owing to closures and disruptions due to the pandemic. The situation has been exacerbated since mid-2021 due to increasing pressure on imports, which has been a core requirement for many retail businesses. The retail industry in Sri Lanka plays a vital role in the country’s economy and it is pertinent to note that the national retail sales in Sri Lanka are approximately USD 13 Bn. As a growing industry over the past years, it accounts for about 23% of the country’s GDP. This industry also represents 14% of the labour market, with more than 1,100,000 people being employed within this sector in Sri Lanka. Additionally, the overall retail industry contributes significantly to the economic value chain of the country in many ways.
The current FOREX crisis and the resultant import restrictions have pushed many of these businesses to the brink of collapse. Consumer durables, clothing and related industries are a case in point where there had been product shortages regularly due to the inability to gather adequate foreign exchange through the banks to fund imports and fulfill local requirements. The situation is moving from bad to worse, with many large entities struggling to keep their branches and facilities open due to a lack of goods for sale. If this continues, it is likely to result in the closure of stores, severely impacting the livelihood of many directly and indirectly dependent on these businesses. This could eventually lead to significant job losses and impact the local economy and result in wider social issues.
Retail is an integral part of the tourism industry and building Sri Lanka as a destination of choice. Notwithstanding, the business losses to thousands of retailers and the affiliated industries such as rental properties currently occupied by these entities, logistics and related businesses providing infrastructure support to several others, such as advertising to service affiliates, would be hard-pressed to survive given the sudden drop in volumes. Education and communication are another two key industries that have been impacted by the FOREX crisis and they too require essential products including computers and communication equipment, which could end up beyond the means of the average citizen both due to the short supply of these goods and increasing cost of imports.
As an industry that contributes heavily with over 25% of GDP and large numbers in employment, a preferred status should be accorded to facilitate FOREX requirements through the banking sector. This would be of national importance given the magnitude of the industry and its contribution toward the overall wellbeing of the economy. The impact of the FOREX crisis on this industry, however, has seen an escalation of grey market activities. This escalation and the establishment of an unorganised business sector could have not only severely impact government coffers but create unmanned parallel imports as well.
The Sri Lanka Retailers’ Association (SLRA) calls on the government and authorities to effectively bring about a system to facilitate the sector’s business continuity through a planned set of actions. One option to consider would be an allocation of FOREX to this sector based on what is available for a given month; thus, there is a particular element of certainty on imports and to manage the uncertainty that prevails currently, to be better. It is also imperative that authorities work out modalities to address the situation where FOREX availability improves soon.
The Sri Lanka Retailers’ Association (SLRA) was established in 2015, which aims to harness the resources of the organized retail industry to a common platform to promote growth, innovation, and global outreach. The association currently consists of 50 corporate members, comprising the organized sector, with over 5000 outlets across 9 sectors in the retail industry.
Business
Sublime W15 Hanthana Estate

By a correspondent
The Hanthana mountain range softly breathes, alive with the sound of silence. A pristine white bungalow sits facing these emerald-clad hills, its colonial crevices invoking the charm and nostalgia of a bygone era. A face from another time, kissed by the warm rays of the sun or caressed by the cool fingers of the mist. This is the resplendent Hanthana Estate by the W15 Collection, a place of beauty, a place of peace, where transcendent excellence is an apt description.
I took the early morning Ella Odessey train to Kandy, a comfortable journey that was accentuated by breathtaking vistas closer to Kandy. I was picked up at the station by the W15 driver and my personal butler for my stay. The first inkling of how my stay would pan out came when I was pleasantly surprised with the regular hotel welcome inside the Land Rover. The offer of a cool towel, the choice of a warm or cold beverage to ease fatigue, even before one steps into the foyer of a hotel, was an astute gesture towards ensuring customer delight.
W15 Hanthana Estate is a deliberately crafted blend of colonial charm (the bungalow being over 125 years old, lovingly and attentively restored to its present glory by renowned architect Chamika de Alwis) and modern opulence. The main bungalow unfolds like a tapestry of sepia and cream, weaving together six exclusive suites with four more situated a little beyond in the two storied stables, which boast an awe-inspiring view of the Uragala and Katusukonda mountains. I’m told that these mountain ranges have a certain significance to movie buffs who might recall that the famed “Indiana Jones and the Temple of Doom (1984) had certain shots filmed in the vicinity.
They offer numerous activities such as trekking in some of the most scenic hiking routes of the island, mountain biking, bird and butterfly watching, wildlife excursions (for the uninformed like myself, there are leopards, elusive yes but still roaming these jungles along with the more common sambar deer), nature sessions with the in-house naturalist or scenic walks and visits to nearby temples to interest you. Hanthana Estate also offers cookery lessons where you could pick your own vegetables from their herb and vegetable garden and have the pleasure of making your own lunch with the help of their chefs. One could also set off on an invigorating and informative drive through the tea plantations in their vintage Land Rover along with their naturalist who has a wealth of knowledge about the mountains, the flora and fauna, history and folklore. With kudos to the management for keeping history alive, Hanthana Estate also offers its guest a traditional, colonial inspired delectable high tea with finely cut finger sandwiches, flaky pastries, dainty fairy cakes and freshly baked scones with a pot of Ceylon tea. This high tea in a picnic form or cocktails as per guest preference, can also be enjoyed at a rock outcrop just a ten-minute jeep drive away from the bungalow which they call the ‘Rock Bar’, while the setting sun paints the skies in vivid hues.
This land initially belonged to Oodewella tea plantation, founded in 1880 which is one of the oldest tea estates in the country, considering that the tea cultivation in the country, established by James Taylor, dates back to 1867. Hanthana Group was created between 1985-1988 where Oodwella group was amalgamated with the Hanthana Estate. It would have seemed like a flashback when the great grandson of Gordon Pyper visited Hanthana Estate recently. The first Gordon Pyper had come to Sri Lanka in 1872 when Hanthana was a coffee plantation and following the coffee blight, planted tea in this beautiful estate. His son and grandson were superintendents at Hanthana and the current Gordon Pyper lived the first 11 years of his life in these environs. He affirms that its “wonderful to be back to the Hanthana of his childhood and W15 Hanthana Estate has given him wonderful memories to cherish always.”
It is an understatement to say that W15 Hanthana Estate caters to every whim and fancy of their discerning guest as they operate on an all-inclusive basis. Your personal butler is just a call away, your food is an exquisitely crafted story, your bed an epitome of comfort which entices you to linger, a shower is more of a response of sensual indulgence with irresistible Spa Ceylon products. Once you tear yourself away from your suite, the bungalow with its art, cosy chesterfield sofas and warm lighting and verdant hills that call you name – all this and more is what W15 promises. In my eyes, what makes Hanthana Estate special is not just beautiful surroundings and peace- I feel what makes this wonderous place feel like home, is the attention they pay to details such as the offer of a warm shawl when a guest involuntarily shivers, the evening turn down service where a hot water bottle is left beneath the duvet, the cushy slippers placed just right, and a myriad of little things that makes you smile or sigh contentedly.
I leave Hanthana Estate feeling a little lighter. All I can feel is that my soul is quieter and softer and more sublime.
Business
BOI invests Rs. 763 Mn in Horana Export Processing Zone: Next leap of Sustainable Best Practices

The newfound government is accelerating its efforts to attract Foreign Direct Investment (FDI) to the country by providing much-needed infrastructure to existing and new investors. The Horana Economic Processing Zone (HEPZ) is a center of attraction due to its location.
One key feature of the BOI zones is the provision of services that enable investors to operate their businesses smoothly, and investors always prefer the “turn-key nature” of these facilities. Electricity, water, and drainage systems; inbound illumination systems; and internal roads are the key attractions to the investors. These essential facilities enable investors to conduct commercial operations or constructions immediately after signsing of agreement with the BOI.
The constituency of the Horana EPZ consists of more manufacturing-led investors, and the wastewater treatment plant (CWWTP) is an integral part of the operation. Most importantly, the Horona EPZ’s long-term viability and compliance with the ESG framework of the organization make it even better at meeting the UN’s Sustainable Development Goals (Goal 15).
Hence, it was identified by the BOI that the capacity of the existing Common Wastewater Treatment Plant (CWWTP) needs to increase its capacity, which is used for the treatment of wastewater discharges from industries at HEPZ, and therefore, augmentation of CWWTP up to a capacity of 3000 m³ per day is essential to cater to the present influent volume of 1750 m³/day and forecasted additional volume of wastewater generated from the expansion of the existing projects and new projects to be established in vacant lands while uplifting the environmental sustainability of the zone and mitigating the health issues.
The BOI Capital Budget lists this project as a priority activity to reduce any possible environmental impacts and meet the CEA’s requirements for getting an Environmental Protection License (EPL) for the Horana Export Processing Zone.
The bids were invited through the National Competitive Bidding process, which had eleven (11) bidders that submitted the bids, and only four (04) applicants were eligible for the detailed evaluation. Bids were evaluated; at the evaluation stage, the Technical Evaluation Committee (TEC) determined the least substantially responsive bidder that had fulfilled the relevant qualifications and experience required for awarding the contract.
Hence, the Cabinet of Ministers, by decision dated 05/06/2023, has granted approval for the proposed enhancement of the common wastewater treatment plant (CWWTP) at Horana Export Processing Zone, utilizing BOI funds, after the competitive bidding process and technical evaluation are completed. On 9th December 2024, the Cabinet took the final decision and approved the contract award to Luminex PLC, located at No. 24, New Galle Road, Moratuwa.
The BOI always works with the Central Environmental Authority, takes necessary action to mitigate imminent adverse environmental and health issues, and follows instructions to maintain the treatment efficiency of the existing wastewater treatment plant at HEPZ. Because of this, the proposed addition should make the treatment system efficient and effective, Further, it will strengthen the existing Common Wastewater Treatment Plant (CWWTP) and fully meet the discharge effluent standards and CEA requirements. (BOI)
Business
Mr. Burger opens third outlet in Wattala, expanding its reach in Colombo’s suburbs

Mr. Burger, one of Sri Lanka’s emerging fast-food brands, has officially opened its third outlet in Wattala, marking another milestone in its steady expansion. Since launching in 2017, the brand has grown in popularity for its signature fusion-style burgers, now serving customers from three key locations: Bambalapitiya, Rajagiriya, and Wattala.
The new Wattala branch strengthens Mr. Burger’s presence in the Colombo suburbs, offering its full menu of customer favorites, including the Chicken Pounder, Dual Mode, and Monster Chicken burgers. Known for its focus on quality and affordability, the brand has built a loyal customer base by consistently delivering fresh, flavorful meals.
Open from 11 AM to 2 AM daily, Mr. Burger caters to both daytime and late-night diners. The company also operates its own delivery service alongside availability on Uber Eats and PickMe, ensuring convenience for customers across all three locations.
Speaking about the latest expansion, founder and CEO Ikram Salam highlighted the brand’s commitment to growth while maintaining its core values. “The Wattala opening is an exciting step for us. We’ve always focused on providing a great product with a strong customer-first approach, and this new outlet allows us to serve more customers while staying true to what makes Mr. Burger special.”
With its expansion into Wattala, Mr. Burger continues to strengthen its footprint in Sri Lanka’s fast-food industry, reinforcing its commitment to accessibility, quality, and customer satisfaction.
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