Business
Retailers concerned about future of their sector
Members of the Sri Lanka Retailers’ Association (SLRA) continue to raise growing concerns about the plight of the local economy and the impacts of the current economic conditions on the retail industry. They addressed their concerns and questions to a panel of experts at the recently concluded SLRA Members’ Forum. The SLRA Members’ Forum is an exclusive networking forum designed to bring together leaders in the retail industry with stakeholders in both private and public sectors of retail in Sri Lanka.
The event was organized by the Executive Committee of the Sri Lanka Retailers’ Association, and attended by Chief Guest Dr. Roshan Perera, an Economist, Public Policy Specialist and Senior Research Fellow at the Advocata Institute, and Guest of Honor Mr. Shiran Fernando, Chief Economist of the Ceylon Chamber of Commerce.
Mr. Murali Prakash, President of the Sri Lanka Retailers’ Association, addressed the attendees on the SLRA’s strategies implemented to create a better understanding of the retail sector, its challenges, and the necessity for special support among the authorities. “We at SLRA strive to keep member interest at the forefront. Our strategy was to engage the authorities on multiple levels, to bring about an understanding of retail trade, thereby enacting retail-friendly action. While we’ve had some success on the way, given the current externalities and issues faced by the sector, we would collectively and individually continue to push for a greater understanding of the sector with policymakers. Retail is an ecosystem that spreads throughout the length and breadth of the country cutting across social strata and should be preserved for the greater good of the nation and its future”, he said.
Chief Guest Dr. Roshan Perera then addressed the audience about the economic challenges brought about by the prevailing economic crisis in Sri Lanka and how best to navigate through them. She highlighted the features of the crisis such as high inflation rates, unsustainable fiscal deficits, external sector pressures and more, which need to be immediately addressed in order to stabilize the economy. Dr. Perera also highlighted the path of economic recovery that the government has put forward and the targets they have set in the medium term.
“Over the past year, we have seen an unprecedented level of inflation. This is due to monetary supply, domestic shock due to agriculture, external shocks such as the depreciation of the currency, the war in Ukraine which impacted food and energy prices, tax increases and more. However, it is forecasted that the inflation rate will gradually reduce in the near and thus it was announced that the current level of inflation is to be maintained. Such has to be deemed a priority, as any gains from economic growth will dissipate due to the high living costs”, she said.
Mr. Shiran Fernando, Chief Economist of the Ceylon Chamber of Commerce, also addressed many of the key issues brought about by the prevailing economic conditions, such as the increase in tariffs, tax changes and more. “The pandemic shed a spotlight on many countries like Sri Lanka who have had fiscal and current account deficits and are currently enduring similar economic struggles. It is important that we endure and overcome the current crisis for the betterment of the country. We have pushed reforms such as State-Owned Enterprise Reform, Land or Labor Reform and more. We need to hold our policymakers accountable for the process so that these reforms are taken forward”, he stated.
Central Environmental Authority (CEA) chairman Dr. Tilak Hewawasam urged businesses to take greater responsibility in addressing environmental challenges, warning that failure to act could have severe long-term economic consequences.
Speaking to journalists, Dr. Hewawasam emphasized that sustainability is no longer just a compliance issue but a core business strategy.
“Environmental responsibility is not just a regulatory obligation—it is a business imperative. Companies that integrate sustainable practices will lead the way in economic resilience and innovation, he said.
Hewawasam’s remarks come as Sri Lanka faces mounting environmental concerns, including waste mismanagement, deforestation and rising carbon emissions. The CEA has been advocating for stronger corporate participation in tackling these issues, encouraging industries to adopt cleaner technologies, efficient waste disposal systems and renewable energy sources.
Hewawasam stressed that the government alone cannot drive sustainable change. “The private sector must step up, adopt green technologies and rethink supply chains to minimize environmental impact, he told journalists.
He also noted that businesses investing in sustainability are more likely to attract investor confidence and long-term profitability.
“With global markets increasingly rewarding eco-friendly brands, Sri Lankan companies risk being left behind if they fail to align with international environmental standards, he added.
“The CEA continues to push for stronger collaboration between businesses and policymakers to accelerate the country’s transition to a green economy.”Hewawasam stressed that businesses must view sustainability not as an obligation, but as an opportunity to drive innovation and long-term success.
By Ifham Nizam
Dialog Axiata PLC, Sri Lanka’s #1 connectivity provider, has been honoured as the ‘Telecommunication Brand of the Year’ for the 14th consecutive year and the ‘Service Brand of the Year’ for the 4th time at the SLIM-KANTAR People’s Awards 2025, held on March 18, 2025. This recognition, awarded based on the voice of the people, reflects the strong relationship Dialog has built with Sri Lankans over the years and the trust they continue to place in the brand.
Since 2007, the SLIM-KANTAR People’s Awards have been a unique symbol of consumer-driven recognition in Sri Lanka. Unlike industry-judged awards, they are based on a comprehensive nationwide survey, providing a transparent reflection of public sentiment. These accolades honour brands and individuals who have earned the trust and admiration of Sri Lankans, forging strong emotional connections. For Dialog, this recognition underscores its deep-rooted relationship with the people and its commitment to delivering reliable connectivity and exceptional service.
“We are truly humbled and grateful to the people of Sri Lanka for this recognition,” said Supun Weerasinghe, Director / Group Chief Executive of Dialog Axiata PLC. “To be chosen as the Telecommunication Brand of the Year for 14 years and the Service Brand of the Year for 4 years is an honour we deeply appreciate. It reflects the trust and confidence placed in us by millions across the country, and we remain committed to strengthening this bond by delivering innovative, accessible, and reliable connectivity that enhances lives and enterprises.”
Dialog’s continued recognition at the SLIM-KANTAR People’s Awards is a testament to its dedication to serving Sri Lankans. As the nation’s #1 connectivity provider, Dialog will continue evolving to meet the changing needs of its customers, ensuring that every solution and service contributes to a more connected and empowered Sri Lanka.
The CSE yesterday was somewhat active because Sierra Cables contributed more than half of the turnover. The company sold its shares at a price 24 percent lower than the previous price level. Market sources revealed that an LOLC Group company purchased 146 million Sierra Cables shares at a market price of Rs 12.30 per share, amounting to Rs 1.8 billion.
This gave some impetus to the market and the All Share Price Index also became positive. Sierra Cable’s previous price was Rs 15.50. Consequently, the All Share Price Index went up by 256.7 points, while S and P SL20 rose by 98.3 points. Turnover stood at Rs 3.67 billion with four crossings.
Those crossings were reported in Citizens Developments Business Finance, where two million shares crossed to the tune of Rs 464 million; its shares traded at Rs 232, HNB 295,000 shares crossed for Rs 90 million; its shares traded at Rs 305, JKH, 4 million shares crossed to the tune of Rs 80.8 million; its shares traded at Rs 20.20 and TJ Lanka 900,000 shares crossed for Rs 44.6 million; its shares traded at Rs 49.50.
In the retail market top six companies that mainly contributed to the turnover were; Sierra Cables Rs 1.8 billion (146 million shares traded), CCS Rs 168 million (2.2 million shares traded), JKH Rs 79.5 million (3.9 million shares traded), Sampath Bank Rs 67.8 million (562,000 shares traded), TJ Lanka Rs 60 million (1.2 million shares traded) and Vallibel One Rs 58.4 million (one million shares traded). During the day 197 million share volumes changed hands in 11468 transactions.
It is said that manufacturing sector entities were the main contributors to the turnover, especially with Sierra Cables and JKH, while banking sector counters were the second highest contributor to the market turnover.
Yesterday, the rupee was quoted at Rs 296.45/65 to the US dollar in the spot market, weaker from 296.30/40 the previous day, dealers said, while bond yields were slightly down.
A bond maturing on 01.07.2028 was quoted at 9.75/85 percent, down from 9.84/90 percent. A bond maturing on 15.09.2029 was quoted at 10.08/15 percent, down from 10.14/20 percent. A bond maturing on 15.10.2030 was quoted at 10.25/34 percent, down from 10.25/38 percent. A bond maturing on 15.12.2032 was quoted at 10.75/85 percent, down from 10.85/97 percent.
By Hiran H. Senewiratne
Showers above 50 mm can be expected at some places in Western and Sabaragamuwa provinces and in Galle and Matara districts.
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