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‘SL could expect steady inflow of forex once debt restructuring is done’

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Katsuki Kotaro and Indika Liyanahewage

By Ifham Nizam

Once Sri Lanka’s debt is restructured a lot of forex would be coming into the country. Sri Lanka’s economy is doing well compared to last year and although prices are high, the situation is stabilizing, Minister/Deputy Head of Mission, embassy of Japan in Sri Lanka, Katsuki Kotaro said.

Kotaro was speaking in the capacity of Chief Guest at the 41st Sri Lanka Apparel Exporters’ Association AGM held at the Cinnamon Grand recently. He added that while the crisis is drying out, getting foreign exchange is absolutely crucial for Sri Lanka. ‘We have been observing local policy formulation over the past two years and believe that implementation of policy is proving very challenging, he observed.

SLAEA chairman re-elected, Indika Liyanahewage stressed that at present, Sri Lanka’s apparel sector is going through a hard time. ‘At present 40% of garments are exported to the US market, while 30% is exported to Europe and those markets have slowed down. Therefore, there is a need to expand the apparel market to other parts of the world, mainly to Japan, East Asia, and India, he said.

Liyanahewage added: ‘Last year was very challenging due to a slowing down of the markets. Japan annually imports 26 billion dollars’ worth of apparel but only 35 million dollars is imported from Sri Lanka and there is an opportunity to expand the Sri Lankan market to Japan.

‘In this endeavor, we are seeking the support of Mr. Katsuki Kotaro, to a get free trade agreement going with Japan.

‘Least Developed Countries benefit from tax schemes, but Sri Lanka does not qualify for this and we are seeking the support of friendly nations to cooperate on implementing Free Trade Agreements with us. The Sri Lankan apparel industry is very compliant and abides by rules and regulations.

‘The Sri Lankan apparel industry is known as ‘garments without guilt’ and we are extending credit to members of the local garment industry.

‘Inspection bodies could visit any factory at any time as the Sri Lankan garment sector is fully compliant with international standards and we request the media to share this information with the international media and as the chairman of SLAEA, I could vouch for the truthfulness of this statement.

‘I extend my gratitude to India for supporting Sri Lanka, especially its garment sector, during the period of crisis in 2022. The export quota to India from Sri Lanka is set at 8 million pieces of garments per year.

‘We request for support from India to get Free Trade Agreements going as the Indian market is very vast and Sri Lankan designs and innovations have attracted Indian customers. This AGM serves as an opportune moment to explore potential partnerships with both India and Japan.

‘We also request for support from Sri Lankan government officials to expedite business processes required by the local apparel sector. In terms of electricity, the cost in Sri Lanka is very high compared to competing nations and tariff duties play a significant role in the exporting of garments. However, we thank the CEB for allowing a one-time roof top solar agreement change.

‘The proposed abolition of SVAT poses a significant challenge and we request the government to introduce an appropriate cash-less scheme as a substitute for SVAT, for which purpose the garment industry will collaborate with the government.

‘It is of note that a cash-based system will lead to corruption and malpractices.

‘The garment industry faces uncertainties in the ensuing year, but Sri Lankans have the ability to work in uncertain times and are determined to ensure a recovery.

‘About 7% of local GDP is attributable to the garment industry and the local apparel industry should be assisted in all forms by government officials, while the exploring of new markets, research, innovation, and development should be taken care of by members of the Sri Lanka Apparel Exporters’ Association.’



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JAT Holdings celebrates the 6th Pintharu Abhiman Convocation, uplifting over 800 painters through NVQ certification

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JAT Holdings PLC marked a significant milestone with the successful conclusion of the 6th JAT Pintharu Abhiman Convocation, recognising more than 800 painters who have earned their NVQ Level 3 qualification, an internationally recognised professional certification delivered in partnership with the National Apprentice and Industrial Training Authority (NAITA).

JAT Pintharu Abhiman was established to uplift Sri Lanka’s painter community through structured skills development, professional recognition and stronger earning potential. This year’s graduating cohort reflects the programme’s expanding reach and the tangible changes it continues to deliver for individuals, families and communities.JAT in collaboration with NAITA has streamlined the certification process such that what would traditionally take up to six months has been refined into an efficient and high-impact three-day assessment model. This approach ensures painters can obtain their qualification without sacrificing extended periods of work, while JAT fully absorbs the certification cost, removing financial barriers and enabling wider access to formal recognition.

Research conducted amongst NVQ qualified participants shows meaningful improvements in livelihoods, with 90 percent reporting increased personal confidence and 76 percent noting an improvement in their overall standard of living. This uplift demonstrates the long-term value of industry-aligned professional training.

A noteworthy moment at this year’s convocation was the recognition of four female painters who received their NVQ certifications. Their achievement marks an important step in broadening female participation in a field that has historically been male dominated, reinforcing JAT Holdings’ commitment to creating inclusive pathways for technical development and sustainable employment.

Speaking at the ceremony, Mr. Wasantha Gunaratne, Director Sales and Technical (South Asia) of JAT Holdings PLC, said:

“Pintharu Abhiman is fundamentally about development, giving painters the knowledge, structure and recognition they need to progress in their careers. By equipping over 800 painters with an internationally recognised NVQ qualification, we are not only strengthening the technical standards of the industry but also creating real pathways for entrepreneurship and financial independence. It is especially encouraging to see that one in five certified painters have already begun building their own businesses. These are the outcomes that matter because they show that when we invest in skills, we unlock opportunity. JAT remains committed to expanding these avenues so every painter has the chance to grow, lead and build a sustainable future.”

The 6th JAT Pintharu Abhiman Convocation underscores JAT’s continued dedication to uplifting the painter community, enhancing industry standards and supporting national skills development through accessible, professionally recognised qualifications.

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Industry bodies flag gaps in Draft National Electricity Policy

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The Ceylon Chamber of Commerce, together with the American Chamber of Commerce, Exporters Association of Sri Lanka, Federation of Renewable Energy Developers, Joint Apparel Association Forum, National Chamber of Commerce of Sri Lanka and Sri Lanka Association for Software and Services Companies, has submitted joint observations on the Draft National Electricity Policy, highlighting that several key issues have not been adequately addressed.

Whilst recognizing the need for reform in the electricity sector, the submission flags several gaps in the draft policy that require closer attention. Key areas such as affordability, decarbonisation commitments, incentives for renewable energy, competition, and the long-term financial health of the sector are either missing or not addressed in sufficient depth.

The proposed tariff revisions outlined in the draft energy policy raise concerns, particularly regarding the removal of cross-subsidies and the proposal to restrict subsidies exclusively to households consuming less than 30 kWh per month. Without detailed analysis, these measures could weaken access to sustainable and affordable energy and potentially lead to fiscal risks.

The provisions allowing uncompensated curtailment, removing feed-in tariffs, and imposing mandatory time-of-use tariffs on rooftop solar users could make renewable energy projects un-bankable for international lenders, thereby increasing the cost of capital for Sri Lanka.

Calling for a more future-focused approach, the submission stresses the need for a policy that reflects modern electricity systems, including planning for the energy transition, energy storage, market competition, cross-border electricity trading, and emerging technologies.

The Chambers and Associations request a comprehensive revision of the Draft National Electricity Policy, alignment with the Electricity Act, and resubmission following substantive consultation, and reiterate support to engage constructively with policymakers to shape a policy that supports affordability, investment confidence, and Sri Lanka’s long-term energy security.

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Bank of Ceylon partners with 36th APB Sri Lanka Convention

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Bank of Ceylon (BOC) partnered with the 36th Annual Convention of the Association of Professional Bankers (APB) Sri Lanka, reaffirming its commitment to promoting professional excellence and knowledge sharing within the banking sector. The partnership was officially handed over by Sameera D. Liyanage, Chief Marketing Officer of Bank of Ceylon and M. R. N. Rohana Kumara, Deputy General Manager Business Revival Unit of Bank of Ceylon, reflecting BOC’s focus on empowering banking professionals and supporting the sustainable growth of Sri Lanka’s financial services industry.

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