Business
Mass adoption of National Fuel Pass is testament to Sri Lanka’s digital maturity – FITIS
With great crises comes even greater opportunity for growth, as witnessed in Sri Lanka over the last two months alone. As the country cautiously emerges from the crippling fuel crisis of July, many attribute the quick adoption of the National Fuel Pass QR code system for easing the situation. In a landmark move towards increased digital maturity by the Ministry of Power and Energy -under the leadership of Minister, Kanchana Wijesekera-, on August 1, 2022 Sri Lanka officially commenced the total implementation of the QR code system for fuel rationing for all motorists; simultaneously negating other ineffective manual systems which attempted to overcome the critical challenge previously.
As of September 19, a total of 6,272,385 consumers across the country had registered to receive fuel in this way, with 34,444,886 transactions made island-wide during the seven week period since inception – testament to not just the capacity to problem-solve, but also the practicality, efficiency, and convenience technological platforms can bring.Credit is also due to MillenniumIT ESP, a member of the Digital Services chapter of FITIS, for the successful implementation of the National fuel pass in partnership with Dialog who is a member of the Communication chapter of FITIS, a news release issued on the QR code system said.
‘’Of the nine million smart phone users in Sri Lanka – of which 7.9 million are on social media, six million consumers to date have signed up for the QR code fuel pass system. The success of the system has been reflected in the easing of fuel queues and an increase in accountability at stations, but is also vindication for those calling for increased national tech literacy in a fast-evolving global digital landscape,’’ the release said.
“While QR codes have been put to use previously (in national efforts to contact trace during the height of the COVID-19 pandemic and LankaQR, for instance), this has been its most successful implementation since.”
It explained that when compared to other Asia Pacific emerging markets, Sri Lanka has proven to exhibit strength in connectivity, digital marketing, investment in digital initiatives, as well as the ability to adopt quickly. Market digital transformation in Sri Lanka has been recorded at 36% of the country’s total population, in comparison to India and Bangladesh which has been recorded at around 29% and 28% respectively.
‘’In fact, according to a 2018 McKinsey report titled “Unlocking Sri Lanka’s Digital Capacity,” in an analysis of about 50 Sri Lankan companies across multiple industries, it was found that the country’s overall Digital Quotient score of 35 places it slightly higher than the global median of 33. However, Sri Lanka still lags behind when placed individually against more developed countries, though holding the potential to come up to par with its global counterparts,’’ the release said.
It added that another indication is the country’s quick adoption and move towards cashless, online payment platforms over the past few years. For example, solely through the JustPay (by LankaPay – a member of the Digital Services Chapter of FITIS) payment platform, and in the last 12 months alone, an approximate 13 million transactions have been recorded, together carrying a hefty value totalling LKR 55 billion.
“Other locally implemented digital payment platforms such as WEBXPAY, Orel Pay, PayHere, HelaPay, FriMi, IPay and PayMaster, all members of the Digital Services Chapter of FITIS, have facilitated considerable ease, flexibility, and acceleration in transactions to the country’s citizens by positively transforming the way in which we make and receive payments. Additionally, the endorsement of ride-hailing and grocery-buying apps such as Pickme also attest to the country’s digital readiness,’’ the release said.
“There are various other tech platforms built locally that could make us more efficient and save us time to best use them on most productive activities that could directly contribute towards building a better country for our future generation,” said the Vice president Mr. Omar Sahib Digital Services of FITIS.
The proven capacity of Sri Lanka’s citizens to move forward digitally should form the basis of incentive towards greater digital priorities. However, it is not enough that we merely create platforms that promote digital citizenry. National efforts should also synchronously be taken to explore new approaches and solutions, lay down enabling protective frameworks, and also provide incentives to encourage digital prioritisation across both private and government sectors, the release said.
The Federation of Information Technology Industry Sri Lanka (FITIS) was set up in 1996 with purpose of giving a much-needed focal point for ICT industry in Sri Lanka. Today, FITIS is the apex body of ICT industry in the country covering all major industry segments as Hardware Chapter, Software Chapter, Education Training Chapter, Communication Chapter, Digital Service Chapter, Professional Chapter, Office Automation Chapter and Professional Consultants Chapter.
Business
Ceylinco Life agent among three global finalists for award
Ceylinco Life’s Ambalantota branch agent AIP Manjula has been named one of three global finalists for the prestigious Insurance Agent of the Year award at the 11th Asia Trusted Life Agents & Advisers Awards (ATLAA) 2026.
The recognition places a Sri Lankan insurance professional among the finalists in a regional field spanning South Asia, Southeast Asia, East Asia and the wider Asia-Pacific region.
Ceylinco Life said the achievement reflected the calibre and customer-focused approach of its agency force, while recognising Manjula’s professionalism and commitment to policyholders.
The award evaluates insurance agents on criteria extending beyond sales performance, including ethical conduct, client service, policy persistency, digital adoption, innovative practices and contributions to the insurance industry and community.
The awards are organised by Asia Advisers Network and Asia Insurance Review, with LIMRA as co-organiser. An independent judging and balloting process is monitored by KPMG as the official scrutineer. The judging panel comprises senior insurance executives, association presidents and industry experts from across the Asia-Pacific region.
Business
CEAT Kelani retains AA+ rating for sixth year
CEAT Kelani Holdings (CKH) has retained its National Long-Term Rating of ‘AA+(lka)’ with a Stable Outlook from Fitch Ratings for the sixth consecutive year, reflecting the company’s financial resilience and leading position in Sri Lanka’s pneumatic tyre market.
The ‘AA+(lka)’ rating, the second-highest on Fitch’s national scale, indicates a very strong capacity to meet financial commitments.
Fitch said CKH’s established market leadership and resilient financial profile remained key strengths, while noting its exposure to price-sensitive, cyclical and highly competitive markets.
The Stable Outlook reflects expectations that the company will maintain its market position despite rising input costs and increasing competition from imported tyres, while preserving adequate credit metrics during periods of weaker earnings and higher investment.
Fitch expects CKH’s established brand, extensive dealer network and adaptive pricing strategies to support its market position. Planned production facility upgrades are also expected to improve product quality, particularly in the radial tyre segment.
The rating agency expects near-term pressure on margins from higher raw material and energy costs but said the company’s low leverage and sound liquidity would provide a cushion.
CKH Chairman Chanaka De Silva said the rating reinforced the company’s focus on disciplined financial management, operational adaptability and long-term investment.
Business
Commercial Bank leads nationwide aquatic clean-up drive
Commercial Bank of Ceylon mobilised employees, customers, volunteers and community members for a nationwide coastal and aquatic clean-up campaign across 20 locations on September 19 to mark International Coastal Cleanup Day 2026.
Conducted under the bank’s sustainability platform, themed ‘Forward Together for a Cleaner Future’, the initiative covered 16 coastal locations and four inland waterways, bringing together stakeholders for a coordinated environmental conservation effort.
The flagship programme was held at Mount Lavinia Beach, with additional activities at Wellawatte and Galle Face beaches. Similar initiatives were conducted by the bank’s regional offices at locations including Kalutara, Negombo, Trincomalee, Batticaloa, Puttalam, Jaffna, Galle, Dondra, Tangalle and along the Mahaweli River.
Employees, management, Future Force volunteers, customers and their families participated alongside the Marine Environment Protection Authority (MEPA), United Nations Global Compact Network Sri Lanka, government and local authorities, environmental organisations and community members.
The bank said the initiative reflected its commitment to water stewardship after adopting Sustainable Development Goal 6 — Clean Water and Sanitation — as a priority goal in 2025.
-
News5 days agoMastermind Naufer Moulavi among 15 found guilty
-
News7 days agoHatton youth protest against reported death sentence for Lankan in Saudi Arabia
-
News7 days agoMahaweli rises as heavy rain triggers flood, landslide fears
-
News6 days agoProtest against setting up of cement factory in highly populated area near BIA
-
Midweek Review5 days agoThileepan’s fast unto death: An authentic narrative that many missed
-
Latest News4 days agoShowers above 100 mm are likely at some places in the Western, Sabaragamuwa, Central and North-western provinces and in Galle and Matara Districts
-
Editorial6 days agoTrouble beginning in earnest
-
Editorial5 days agoBig Bad Bills
