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Plea for debt moratorium to rescue drowning SMEs and saving millions of jobs

Published

4 years ago

2022/05/27

Around 4.5 million Sri Lankans employed in the small and medium enterprises (SMEs) might lose their jobs in the coming months unless the government stepped in and assisted businesses, Chairman of Sri Lanka United National Businesses Alliance (SLUNBA), Tania Abeysundara told the media in Colombo on Wednesday.

She warned that a lot of SMEs might collapse in the next month unless the government arranged a debt moratorium.

“4.5 million people work in SMEs. When we asked the Central Bank Governor, he said that he can’t assure a debt moratorium. He was worried about the banking sector. I would like to ask the governor, wouldn’t the banking sector collapse if the SME’s can’t pay their loans,” Abeysundara said.

She said that Prime Minister Ranil Wickremesinghe had approved money printing to pay the salaries of government employees.

“When the government has no money to pay their employees, they can always print the money. What about us? Are we also to print money? Unless we receive a debt moratorium we will have to close our businesses,” she said.

Meanwhile, Treasurer of the SLUNBA, Lakmal Perera said that “once people lose their jobs, it is likely that they would come on to the roads and that will lead to a chaotic situation.

“We asked the government about this and they have no answer. There is no way that we can pay our loans with this contraction of the economy. We need an answer soon, when these people are on the roads the 225 MPs won’t be able to stop them,” he warned.

Vice chairman of the Association and President of the Vehicle Importers Association, Indika Sampath Merenchige also insisted that the government should talk to the business owners and give them a moratorium. If that did not happen, SMEs would be compelled to stop repaying loans.

“We give the government two weeks. We have employees that have been working with us for 10-15 years. They are a big part of how we have succeeded and survived. So, we can’t send them home. We have to somehow pay them. So, we have to stop paying loans,” Merenchige said.

Deputy Chairman of the SLUNBA, Susantha Liyanarachchi, who is also the Chairman of the National Construction Association of Sri Lanka (NCASL) said that there was a danger of a large number of garment factories leaving the country and as they couldn’t expect the cabinet that had been appointed to navigate the country out of the economic crisis.

“If garment factories leave, what will happen to foreign currency earnings?” he asked.

Governor of the Central Bank, Dr. Nandalal Weerasinghe said that the minimum economic activity would be experienced in the country in the next six to eight months.

“That means the economy will contract. We estimate that the economic contraction this year will be greater than any other time in post-independence Sri Lankan history. No one can bring down inflation below 30-40 percent in the next six months. People who are poor and vulnerable will be severely affected. Unless the government provides some support, the poor will find it hard to live,” he said.

Dr. Weerasinghe said that poverty levels would increase and when an economy contracted there would be a lot of unemployment, especially in the SME sector. (RK)

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Russian circumnavigation team arrive in Sri Lanka

Published

8 hours ago

2026/04/26

Priyan

The Russian circumnavigation team, the 5 Oceans Club, made a brief stop in Sri Lanka as part of their second global sailing expedition.

The six-member crew, visited the Russian House in Colombo, on Friday, (24th April) where they shared insights from their journey.

What makes this expedition particularly inspiring is the club’s commitment to inclusivity. They actively encourage children with limb disabilities to experience the ocean and participate in sailing as equals, fostering confidence and a deep connection with nature.

The team also spoke about a specialized sailing school based in Siberia—one of Russia’s most picturesque regions—where children with such challenges are trained and introduced to maritime life. During the session, they offered a glimpse into their daily life aboard the yacht and highlighted how they integrate elements of science into their explorations, making their journey both adventurous and educational.

The crew consists of, Dmitry Kuznetsov – (captain of the boat of the 5 Oceans Club), ⁠Vladimir Dudkin – (crew member), ⁠Dmitry Dudkin –(cabin boy), ⁠Ksenia Kuznetsova – (cabin boy), ⁠Natalia Shahinyan – (founder of the charity foundation “Life on the Move”), ⁠Sofia Sheremet -(ward of the foundation)

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Heat Index at Caution Level in the Northern, North-central, North-western, Western, Sabaragamuwa, Southern, and Eastern provinces and in Monaragala district during the day time

Published

14 hours ago

2026/04/26

Priyan

Warm Weather Advisory
Issued by the Natural Hazards Early Warning Centre
Issued at 3.30 p.m. on 25 April 2026, valid for 26 April 2026.

The Heat index, the temperature felt on the human body is likely to increase up to ‘Caution level’ at some places in the Northern, North-central, North-western, Western, Sabaragamuwa, Southern, and Eastern provinces and in Monaragala district during the day time.

The Heat Index Forecast is calculated by using relative humidity and maximum temperature and this is the condition that is felt on your body. This is not the forecast of maximum temperature. It is generated by the Department of Meteorology for the next day period and prepared by using global numerical weather prediction model data.

Effect of the heat index on human body is mentioned in the above table and it is prepared on the advice of the Ministry of Health and Indigenous Medical Services.

ACTION REQUIRED
Job sites: Stay hydrated and takes breaks in the shade as often as possible.
Indoors: Check up on the elderly and the sick.
Vehicles: Never leave children unattended.
Outdoors: Limit strenuous outdoor activities, find shade and stay hydrated.
Dress: Wear lightweight and white or light-colored clothing.

Note:
In addition, please refer to advisories issued by the Disaster Preparedness & Response Division, Ministry of Health in this regard as well. For further clarifications please contact 011-744649

News

Sagarika derailment disrupts coastal rail line; services to resume in two days

Published

14 hours ago

2026/04/26

Thilina Walpola

Railway General Manager Ravindra Pathmapriya said on Friday that re-railing operations of the derailed ‘Sagarika’ train have already commenced and that services on the Coastal Line are expected to be restored within two days.

Addressing the media, he said the Minister had instructed officials to take all necessary measures to minimise inconvenience to passengers.

Commenting on the incident, he said: “The damaged train is a significant loss for us, especially as our fleet is already limited. We have incurred this loss and hope to rectify the situation promptly. However, we will need to deploy an alternative train in its place, and discussions are currently underway.”

The ‘Sagarika’ train, operating from Beliatta to Maradana, derailed near the Wadduwa Railway Station on Friday morning (24), causing severe damage to one track of the dual-line section.

The Railway Department has since restricted services on the affected Coastal Line up to Panadura Railway Station.

Arrangements have been made to transport passengers from Panadura to South Kalutara by Sri Lanka Transport Board (SLTB) buses, from where train services will resume towards Matara and Beliatta.

Meanwhile, the Department said efforts are underway to clear the obstruction and restore at least one track by the end of the day.