Business
SLIC Suba Pathum awards 375 scholarships for school children
Sri Lanka Insurance – The Nations’ protector, over the years have had contributed to the betterment of the future generation of the country. Sri Lanka Insurance (SLIC) is not only one of the most profitable state owned enterprises but also a responsible corporate citizen that enriches the community it operates in.
SLIC initiated the ‘Sri Lanka Insurance – Suba Pathum Scholarship’ program in 2014 for the children of its Life policy holders across the country. This scheme has awarded 1800 scholarships, worth of approximately 200mn up to date. This year the scholarship scheme will be rewarding 375 students, who excelled in the 2020/21 Grade 5 Scholarship, 2020 GCE Ordinary Level and 2020/21 GCE Advanced Level examinations. 75 top ranking students were selected from each of the three examinations totaling up to 375 students. Grade 5 Scholarship and GCE Ordinary Level, qualifiers were selected based on the district achievement and for GCE Advanced Level applicants, selections were based on the national level achievement.
A Financial scholarship of Rs. 20,000 for five years, Rs. 40,000 for two years and Rs. 50,000 for three years is awarded to the students who are eligible for the Suba Pathum scholarship from Grade 5 Scholarship, GCE Ordinary Level and GCE Advanced Level examinations, respectively. A total of Rs. 50mn has been allocated for the 2020/21 Suba Pathum Scholarship program which will continue for the next five years.
In his speech to the guests, Ronald C. Perera, PC, Chairman of Sri Lanka Insurance, said, “The right to education is a fundamental human right that every child should have. There are 4.4 million school children in Sri Lanka who are primary and secondary school age, however not every child is fortunate enough to receive an education in an environment with the same degree of facilities. Having an educated populace is very important for a nation, thus kids should have access to uninterrupted primary and secondary education that enables them to access university education. Sri Lanka has 15 National Universities and we need to encourage and support our children to obtain university education. The objective of ‘Sri Lanka Insurance Suba Pathum Scholarship’ program is to extend the required support to our children to obtain the education they deserve without any interruption. As a responsible state sector corporate giant it is our responsibility to assist the future generation’s access to quality education.
Speaking at the Suba Pathum Scholarship program Chandana L. Aluthgama – Chief Executive Officer of SLIC said, “over the years as an organization we have contributed for the betterment of the future generation of this country through numerous initiatives. The Minimuthu range and the ‘School Fee Protector’ policies were introduced for the benefit of the children. Both these products support towards a guaranteed uninterrupted education support and highly beneficial returns for the children and provides both parents and kids a peace of mind. By going above and beyond the call of duty, SLIC has been involved with the “Pasal Piriyatha Surakimu” CSR program in creating a suitable educational environment for underprivileged schools. furthermore, to mark the International Children’s Day, we have offered parents of children born on October 1st a free Life Cover. We as a state owned organization believes in transformation and adapting to the status quo. Therefore, as a responsible corporate citizen we will continue to transform the next generation’s future with a secure education in order to uplift the future of this country”.
The scholarship awarding ceremony was held at Nelum Pokuna – Mahinda Rajapakse Theater, Colombo on the 28th of February 2023 with the participation of the Board of Directors, Chairman, Chief Executive Officer and the senior management team along with the students and their parents.
Established in 1962, Sri Lanka Insurance Corporation celebrates over 60 years of excellence as the largest government-owned insurance company in Sri Lanka, with a managed asset base of over Rs.268 billion and a Life fund of Rs. 152 billion, the largest in the local insurance industry. The insurer is also the first and only local insurer to secure Fitch Ratings A (lka) rating for its long-term financial stability and sustainability and also Sri Lanka Insurance ranked as the ‘Most Valuable General Insurance Brand’, ‘Most Loved Insurance Brand’ for the 5th consecutive year in the country by Brand Finance. The national insurer is on a mission of being a customer-focused company that constantly innovates in providing insurance services to customers and is now serving customers through an extensive network of over 190 branches and customer service locations.
Business
A sustained wave of Indian assistance to Sri Lanka showcases defining shift in developmental diplomacy
By Sanath Nanayakkare
An evolving approach to regional diplomacy was brought into sharp focus with the recent foundation-laying ceremony for the Moragahakanda Bridge in Matale.
Jointly launched by Indian High Commissioner Santosh Jha and Minister of Transport, Highways and Urban Development Bimal Rathnayake, this 175-metre span is far more than a routine civil engineering project. It serves as the physical manifestation of a broader USD 450 million reconstruction package deployed by India in the wake of Cyclone Ditwah, which severely fractured the island’s transport arteries.
Foreign aid is too often discussed in cold, macroeconomic abstractions. Yet, every so often, a consistent pattern of targeted assistance alters the landscape of bilateral relations, offering a clear window into how regional partnerships evolve out of necessity and goodwill.
Across the country today, a remarkable narrative of multi-layered cooperation is unfolding.
From critical post-disaster infrastructure and maritime routes to grassroots agricultural uplift and institutional capacity-building, India’s developmental footprint is shifting unmistakably toward an organic, people-centric model of shared resilience.
What distinguishes this latest wave of assistance is its deliberate pivot from emergency support to permanent, climate-resilient transformation. When Cyclone Ditwah initially paralysed regional connectivity, India’s immediate response was marked by the rapid deployment of temporary Bailey bridges.
Today, that swift humanitarian intervention has matured into a structural blueprint: the Moragahakanda project stands as the vanguard of 13 permanent bridges being built across Sri Lanka’s provinces by IRCON International Limited, complemented by upcoming railway upgrades and modern signaling systems backed by a USD 250 million Line of Credit.
The true signature of this diplomatic shift lies in its breadth, operating simultaneously across multiple tiers of society:
Institutional Governance: Delegations of Sri Lankan parliamentarians and senior administrative officers regularly travel to India to study public policy frameworks, legislative systems, and administrative practices.
Economic Lifelines: Financial mechanisms, such as viability gap funding for the Nagapattinam-to-Kankesanthurai passenger ferry service, continue to shrink geographical distances, reviving coastal commerce and tourism.
Grassroots Empowerment: Specialised capacity-building programmes tailored for local stakeholders – ranging from state officials to rural dairy farmers -ensure that development reaches deep into the island’s hinterlands.
By aligning immediate disaster relief with long-term infrastructure, institutional capacity, and human capital, India and Sri Lanka are demonstrating how neighbours can build safer, more connected futures together, grounded firmly in mutual respect and tangible progress.
Business
Bring your own bag to book fair, CEA urges
By Ifham Nizam
The Central Environmental Authority (CEA) yesterday urged visitors to the Colombo International Book Fair to bring reusable bags to carry their purchases, as part of a drive to reduce single-use plastic waste at the event.
CEA Director General R. S. P. Kapila Rajapaksha said large quantities of plastic, particularly “sili sili” bags, had been used to carry books at previous book fairs.
“We urge visitors to bring an environmentally friendly, reusable bag when they come to buy books. This simple step can help reduce the use of single-use plastic and protect the environment,” Rajapaksha said.
The book fair opens on September 25, with the CEA and the Sri Lanka Book Publishers’ Association launching an awareness programme targeting book sellers, food vendors and visitors.
The programme will be conducted under the theme “Read Smart, Carry Smart”, focusing on reducing polythene and plastic use throughout the exhibition.
The CEA said the use of plastic bags is also subject to regulations issued under the Consumer Affairs Authority Act. Gazette Extraordinary No. 2456/41, dated October 1, 2025, prohibits the free distribution of handled “sili sili” bags to consumers. Where such bags are sold, the charge must be included in the customer’s bill.
The CEA said food outlets at the book fair would also be required to comply with regulations prohibiting a range of single-use plastic products.
These include plastic straws and stirrers, disposable plastic plates, cups, spoons, forks and knives, as well as polythene-based food wrappers commonly known as lunch sheets.
The CEA said it had discussed the requirements with relevant stakeholders and reached agreement to ensure that prohibited products are not used at food outlets within the exhibition premises.
The authority urged both traders and visitors to cooperate with the initiative and help make this year’s book fair a more environmentally responsible event.
Business
Japanese investor Yoshimichi Watanabe backs Hunas Holdings
Partnership signals renewed foreign investor confidence in Sri Lanka as a destination and in the long-term growth of its hospitality sector
Japanese investor Yoshimichi Watanabe has entered into a partnership with Colombo Stock Exchange-listed Hunas Holdings PLC, in a move that comes as the diversified conglomerate prepares a significant expansion of its hospitality and real estate interests in Sri Lanka.
The partnership brings foreign capital and international market experience into one of Sri Lanka’s fastest-diversifying listed groups at a point when the Group is actively building out its pipeline across both sectors. Hunas Holdings is currently evaluating a series of hospitality and real estate developments in Sri Lanka, with further announcements expected in the coming months.
Hunas Holdings PLC operates across hospitality and leisure, real estate, renewable energy and agriculture, with a hotel portfolio that includes Hunas Falls in Elkaduwa
For Sri Lanka, the significance of the partnership extends beyond the two parties. Inbound investment of this nature, from an investor with direct and sustained experience of the market, is a measure of returning confidence in the country as a destination and in the underlying fundamentals of its hospitality sector, at a time when the industry is repositioning towards higher-value, experience-led travel.
Watanabe brings investment experience across e-commerce, hospitality and real estate in Japan and in international markets including Bali, Indonesia. He has also maintained a relationship with Sri Lanka over many years, having made multiple investments in the country, giving him first-hand insight into its business environment, regulatory landscape and long-term potential.
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