Business
SL’s debt restructuring issues disrupt Kandy city’s JICA-funded sanitation project
By Ifham Nizam
Despite almost three years passing, a billion rupee sanitation project intended to be implemented within Kandy city limits is yet to reach completion as the Japan International Cooperating Agency (JICA)—the executing bilateral aid agency—is yet to release the final Rs. 1 billion required to complete the project’s final stage due to matters connected to Sri Lanka’s debt restructuring process.
“The reason JICA has given for not releasing the final Rs. 1 billion to complete the last leg of the project is Sri Lanka’s debt restructuring. With the Rs. 21 billion we received in three packages to complete the three stages of surveying, planning and building infrastructure to establish the wastewater management system, at least 4,000 households, commercial properties (state and private) and institutions (state and private) are utilizing the facilities. The balance monies, upon receipt, will enable the connecting of the remaining 6,000 wastewater connections, a senior engineer said.
Kandy Municipal Engineer D. M. D. S. Seneviratne told The Island Financial Review that although Rs. 22 billion has been spent on the project, the work has stopped midway. ‘While Rs. 21 billion has been utilized for the sanitation project, it has not been implemented at the final level, he said.
When contacted JICA representative Takashi Kondo told The Island Financial Review that all JICA-funded projects, and not only the Kandy project, were stopped following Sri Lanka’s defaulting on its public debt and the negative image consequently created.
However, Kondo expressed confidence that they are ready to undertake all the technical responsibilities.
The Centre for Environmental Justice (CEJ) Executive Director Dilena Pathragoda told The Island Financial Review that as a civic-minded organization, they would do their best for the betterment of the people of Kandy. ‘We would request officials of the Japanese embassy and JICA to consider providing Rs. 1 billion, he added.
‘Building the necessary infrastructure facilities to collect wastewater generated from kitchens, bathrooms and toilets across 733 hectares and providing connections to 12,200 private residences, state institutions, and commercial property units in a densely congested city with complex topography is no easy task, he explained.
Speaking to journalists about the challenges faced by the Municipal Council, Kandy MMC’s Chief Health and Medical Officer Dr. Pasan Jayasinghe said, “Kandy city municipal limits cater to the water and sanitation needs of tax-paying residents and business owners, who number approximately 125,000. In addition, we have 375, 000 daily visitors who access the city for tourism, administrative needs, schooling, work and medical requirements, to name a few.
‘The facility built with international agency funds provides us with the capacity to accommodate the sanitation needs of up to 300,000 people. We currently exceed capacity, especially during torrential rains or when there is overcrowding in the city; for instance, during holidays, he said.
Jayasinghe reiterated that even if communities or businesses complained about pollution caused by improper wastewater disposal, given the limited staff, which included five Public Health Inspectors (PHIs) and himself, there were mounting challenges in attending to all complaints.
‘Ideally, one PHI should provide their services to 10,000 persons in the field. However, although I am the Chief Health and Medical Officer, I have to take over some of the field visits. Each of us has to oversee double the capacity of people. We then have to ensure that visitors to the city are provided with hygienic sanitation facilities and that eateries are selling hygienically prepared food. We have serious capacity issues when executing field duties in a city that serves the sanitation needs of 500,000 people, Jayasinghe added.
Business
PM ‘Rings the Bell’ at CSE to champion financial literacy and investor education
As part of World Investor Week (WIW) 2026, the Securities and Exchange Commission of Sri Lanka (SEC) and the Colombo Stock Exchange (CSE) joined stock exchanges around the world in ringing the market opening bell for financial literacy on 5 October 2026, under the patronage of Dr. Harini Amarasuriya, Prime Minister of the Democratic Socialist Republic of Sri Lanka.
World Investor Week is an annual global campaign led by the International Organization of Securities Commissions (IOSCO) to raise awareness of the importance of investor education and investor protection. The “Ring the Bell for Financial Literacy” initiative, pioneered by the World Federation of Exchanges (WFE), brings together stock exchanges and other stakeholders worldwide to promote greater financial literacy and encourage individuals to make informed financial decisions.
The ceremony also marked the 40th anniversary of the CSE and the joint launch by the SEC and the CSE of the Stock Market Game, an online stock market simulation based on the ATrad trading system.
The Stock Market Game enables participants to gain practical experience of how the stock market works, make investment decisions and construct portfolios of listed shares without using real money. The platform is accessible through the websites of the SEC and CSE and is expected to serve as an important practical tool for promoting financial education. It is envisaged that the Stock Market Game will also be used to conduct simulation competitions among universities and the 100 Capital Market Clubs established in schools across the country.
The ceremony also featured the commemorative issuance of a stamp and First Day Cover to mark the 40th anniversary of the CSE. Issued in collaboration with the Department of Posts and the Philatelic Bureau of Sri Lanka, the commemorative stamp and First Day Cover were presented to Prime Minister Dr. Harini Amarasuriya, by the SEC Chairman Snr. Prof. D.B.P.H. Dissabandara and Ray Abeywardena, Director CSE and Chairman of Central Depository Systems (CDS).
Welcoming the gathering, Rajeeva Bandaranaike, Chief Executive Officer of the CSE, highlighted the importance of obtaining reliable information when making investment decisions.
“We operate in a digital world where a vast amount of information and data is disseminated through social media. While some of this information is factual, some may be inaccurate or misleading. When investing in the stock market, it is essential to make informed and prudent investment decisions. Therefore, investors should obtain information and data from reliable and responsible sources and persons before making investment decisions.”
Addressing the gathering, SEC Chairman Snr. Prof. D.B.P.H. Dissabandara emphasised that the SEC’s role extends beyond regulation to facilitating the further development of the capital market.
“The SEC needs to determine how best to introduce the stock market to Generation Alpha, Generation Beta and generations beyond. When it comes to investors, we need to build confidence in the market, because people will invest only when they have confidence in the market.’’
Business
Rs. 5 million worth of prizes to be given at 8th edition of CSE Masterminds Quiz Competition
The Colombo Stock Exchange (CSE) has announced that the eighth edition of the CSE Masterminds Quiz will be held on 9th October 2026, from 3.00 p.m. onwards, at the Main Ballroom, Shangri-La Colombo.
Recognised as Sri Lanka’s premier capital market quiz competition, CSE Masterminds brings together teams from the public and private sectors. Participants will be tested across international business, global markets, current affairs, the Sri Lankan economy and business, the Sri Lankan stock market, and sports and entertainment, before a concluding rapid-fire round.
This year the winning team can win up to Rs. 2,000,000, the runners-up up to Rs. 1,000,000, and the second runners-up Rs. 750,000. Sector awards will also be presented to the highest-performing team from each participating sector. Guest participants will also be able to compete in rounds of Audience questions, and will have the opportunity to participate a raffle draw for three free return tickets provided by Fits Aviation (Pvt) Ltd.
The evening will also include an exclusive after-party with live music provided by the band ‘Doctor’ featuring guest performer Umara Sinhawansa, fine food and beverages, providing an opportunity for networking and celebration. Every participant will receive a premium goodie bag made possible by the support of the event’s sponsorship partners. Collectively, the event will feature over Rs. 5 million worth of prizes, rewards, and giveaways, encompassing championship prizes, sector awards, audience engagement prizes, raffle draw offerings, and goodie bags.
Sponsorship partners include:
Platinum Sponsors: Hatton National Bank PLC and Bartleet Religare Stockbrokers (Pvt) Ltd.
Gold Sponsors: Ex-Pack Corrugated Cartons PLC, Asha Securities Ltd., and Lanka Securities (Pvt) Ltd.
Silver Sponsors: Barista Coffee Lanka (Pvt) Ltd., Capital Trust Holdings (Pvt) Ltd., LOLC Holdings PLC, Arpico Ataraxia Asset Management (Pvt) Ltd., IronOne Technologies (Pvt) Ltd., and LankaPay (Pvt) Ltd.
Co-Sponsors: Access Engineering PLC, Bank of Ceylon, Commercial Bank of Ceylon PLC, CryptoGen (Pvt) Ltd., Deloitte Lanka (Private) Limited, Dialog Finance PLC, Efutures (Pvt) Ltd., People’s Leasing & Finance PLC, Senfin Asset Management (Pvt) Ltd., and Softlogic Stockbrokers (Pvt) Ltd.
Business
NCCSL to conduct practical workshop on food labelling and advertising regulations in Sri Lanka
The National Chamber of Commerce of Sri Lanka (NCCSL) is organizing a one-day practical workshop on “Food Labelling & Advertising Regulations in Sri Lanka” on Thursday, 8th October 2026 from 9.00 a.m. to 4.30 p.m. at the National Chamber of Commerce, Colombo 10. The workshop has been organised to provide a practical understanding of the latest regulatory requirements governing the food products labelling and advertising of food products in Sri Lanka, with particular attention to regulatory developments applicable in 2026, compliance requirements, and the potential legal and financial implications of non-compliance.
As food products increasingly compete not only with quality and price but also on packaging, labelling and promotional claims, businesses must ensure the information they communicate to consumers is accurate, transparent and consistent with applicable regulatory requirements. Understanding these requirements is therefore essential for businesses seeking to protect their brands, maintain consumer confidence, and minimize regulatory and legal risks.
The practical workshop will go beyond an overview of regulations and focus on how businesses can apply regulatory requirements in their day-to-day operations. Participants will be guided through key areas of food regulatory compliance, including the national food regulatory framework, recent food labelling regulations and key changes, mandatory approvals and prohibitions relating to food labelling, and the litigation process associated with regulatory violations. The programme will also cover several areas of growing importance to the food industry, including the EU EMPCO Directive, food colour coding regulations, regulations relating to food trans-fatty acids and the importance of compliance in the use of food additives. Practical exercises will further enable participants to apply their knowledge to real-world compliance situations and strengthen their ability to identify potential regulatory concerns.
For further information and registration, please contact the National Chamber of Commerce of Sri Lanka on 011 4741788 – Nethmi or Udula – 071 403 4775.
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