Business
SL spending $ 100 million on polythene from Dubai despite clamps on non-essential imports
Top industry specialists charge:
By Hiran H.Senewiratne
Sri Lanka has spent more than US$ 100 million from January to November 2022 to import all varieties of polythene and polythene related raw material mainly from Dubai, despite there being a restriction on non-essential imports, top industry specialists said.
“Due to this there is an oversupply of polythene in Sri Lanka which has also resulted in the complete closing down of the Sri Lankan ‘polythene recycling business’, which accounts for nearly 30 per cent of the local requirement, members of the Sri Lanka Polythene Recycling Association told ‘The Island Financial Review’ recently.
“This segment also employs around 3,000 people from around 60 companies and their livelihoods are now at stake. But at this juncture when most of the industries are facing a crisis, only polythene imports have increased dramatically in the recent past, which is like a mafia, an Association member who preferred anonymity said.
“With the import restrictions taking effect, some local companies that operate in Dubai purchase this raw material through US $ telegraphic transfers and send it to Sri Lanka and once this material reaches the port, clearing agents under- invoice and pay less taxes to government coffers, Association sources said.
These sources added: “Due to local polythene recyclers opting out of the industry a major environmental hazard is looming as disposal of used polythene has become an issue. Recyclers collect and buy used polythene from homes, factories and collectors and due to cheap imports this business will come to a stand-still.
“With no recycling happening, used polythene will pile up and soon become a major environmental issue. Neither the environmental authorities nor the Central Bank are paying attention.
“When most non-essential imports are regulated we are surprised as to why polythene imports are not regulated as there is an oversupply in the market, which drains around US$ 100 million in foreign exchange per year.
“It is also very surprising that the import duty on polythene raw material (especially virgins) is around Rs. 10 per kilogram, when for some essential food items it is over Rs. 20- 30.
“The total responsibility for this has to be taken by the Central Environmental Authority (CEA) which has turned a blind eye towards regulating the imports and thereby saving around US$ 100 million for Sri Lanka.
“The CEA, way back in 2020, was in a major hurry to ban some polythene material used for the food industry. However, it’s highly questionable as to why that enthusiasm is not being shown by the CEA towards curtailing the free flow of polythene imports.
“What the government should do is have a temporary ban on polythene imports or impose a suitable tax structure because Sri Lanka has had an adequate supply of polythene for almost one year.
“The government can also look at imposing a higher tax for polythene imports, which will reduce the supply to a great extent.”
The Central Bank of Sri Lanka today (07) presented its flagship publication, the Annual Economic Review for 2024 (AER 2024), to President and Minister of Finance, Anura Kumara Disanayake, highlighting the steady progress of Sri Lanka’s economic recovery following the country’s most severe downturn in recent history.
The report was officially handed over by Dr. P. Nandalal Weerasinghe, Governor of the Central Bank, during a special ceremony held at the Presidential Secretariat.
AER 2024 comprises four main chapters: Macroeconomic Developments, Conditions of the Financial System, Review of Central Bank’s Policies and Macroeconomic Outlook.
According to the Review, the Sri Lankan economy showed significant signs of recovery in 2024, following the deep economic crisis experienced two years ago. The recovery trajectory, though challenging, has been notably faster than that of many other debt-distressed countries.
Improvements in economic activity, a partial resurgence in purchasing power and reduced uncertainty are among the key positive indicators noted in the report.
The event was attended by Dr. Nandika Sanath Kumanayake, Secretary to the President, K. M. Mahinda Siriwardena, Secretary to the Treasury, Mrs. K. M. A. N. Daulagala, Senior Deputy Governor, Dr. C. Amarasekara, Assistant Governor, Dr. (Mrs.) S. Jegajeevan, Director of Economic Research and Dr. L. R. C. Pathberiya and Additional Director of Economic Research at the Central Bank Dr. V. D. Wickramarachchi.
[PMD]
Business
IceWarp expands into Sri Lanka, fostering European innovation in collaboration with FentonsIT
IceWarp, a global leader in business communication solutions, has officially launched its cutting-edge platform in Sri Lanka, bringing European expertise in email and collaboration solutions to support the country’s evolving business landscape.
This expansion is driven by a strategic partnership with Fentons Information Technology (FIT), the Information Technology arm of Hayleys Fentons Limited.
The grand launch event held at The Kingsbury Colombo on 4th April, 2025, was graced by several distinguished guests, including Chief Guest Mohan Pandithage, Chairman and Chief Executive of Hayleys PLC.
The presence of Adam Paclt, Global CEO of IceWarp, and Pramod Sharda, CEO for India and the Middle East of IceWarp, along with their global team, highlighted the significance of this expansion. Industry experts, government officials, corporate leaders, and CIOs from the banking, financial services and insurance sectors were in attendance as well, reflecting strong local interest in IceWarp’s European expertise.
With this launch, Sri Lankan businesses now have access to an affordable, scalable and secure alternative to Microsoft 365 and Google Workspace. IceWarp’s advanced Collaboration Suite integrates a wide range of tools into a single, unified platform designed to streamline communication and boost productivity. Offering flexible hybrid deployment options and cost-efficient solution, IceWarp enables organisations to optimise their operations without compromising security or functionality.
Eventistry Sports, a trailblazer in innovative sporting events, has unveiled the Sri Lanka Padel League (SLPL), the nation’s first franchise-based padel tournament, set to debut in June 2025. This groundbreaking league promises to redefine Sri Lanka’s sports landscape by creating a dynamic national platform for athletes while fostering unity among fans, brands, and communities.
The SLPL will showcase six franchise teams, each embodying the spirit of iconic Sri Lankan locales: the Colombo Chargers, Yala Rangers, Hikkaduwa Riders, Ella Hawks, Arugambay Vipers, and Trinco Warriors. These teams will not only ignite regional pride but also unite the country through a shared passion for padel—a fast-paced racquet sport merging tennis and squash, played on enclosed courts.
“The SLPL is more than a league; it’s a movement,” declared Karin Wijeratne, Director of Eventistry Sports. “By blending franchise sports with Sri Lanka’s vibrant culture, we’re creating a platform where players gain national recognition, fans rally behind their hometown heroes, and brands engage with communities in meaningful ways.”
The league’s launch on June 21–23, 2025, at Colombo’s Padel House courts (CR&FC) will kick off with three days of high-octane matches, preceded by a star-studded player auction on May 16th at The Vault, Colombo City Centre. Local talent—both professional and intermediate—will be drafted by franchise owners, with international registrations now open to elevate the competition’s global appeal.
Please log in to: www.slpadelleague.com and social media: @SriLankaPadelLeague (Facebook & Instagram) for more information.
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