Business
Sri Lanka Tourism to request debt and interest waivers from Central Bank
With the tourism sector being one of the most severely impacted industries in Sri Lanka, Sri Lanka Tourism has continued to support the industry stakeholders through a host of measures to help tide over the crisis. In its latest initiative, the tourism authorities have extended the validity period of licenses of all tourism establishments registered with the SLTDA until the 31st December 2021 with the hope that it will decrease the burden facing tourism establishments presently. The validity of Tourist Guides licenses has also been extended until later on this year.
When the borders initially opened in January 2021, in order to ensure both large and small tourism establishments and stakeholders are supported, Sri Lanka Tourism introduced the Safe and Secure certification in adherence to health protocols after an audit by KPMG and Ernst & Young. This certification which was offered as a complimentary service to the industry has helped even smaller establishments and travel guides benefit from tourism activities conducted under the bio bubble concept.
With the third wave of the pandemic severely effacting the Industry, tourism authorities have requested new relief from the Central Bank of Sri Lanka in addition to the extended debt moratorium from banks and finance companies, as well as concessionary working capital which was arranged for the industry in 2020/2021. In order to extend this support, Sri Lanka Tourism is further requesting the Central Bank to write-off of outstanding debts or interest waivers in order to sustain stakeholders who would otherwise have to shut down operations in the absence of tourists.
Further, the authorities secured VAT exemption for the tourism industry by lobbying for tourism to be classified as an export industry; 12 month instalment facility for utility payments and six month grace period for vehicle lease rentals was obtained; provisional registration to support informal sector was structured; loan and refinancing schemes to the value of Rs. 150 billion for affected industries which included tourism was provided and a Memorandum of Understanding with the Vocational Training Authority (VTA) to provide island-wide training for Tourist Drivers was facilitated. The authorities additionally provided the opportunity to convert existing accommodations to Safe and Secure Level 1 and Level 2 hotels and intermediary care centres while the liquor license fee was waived off for 2021.
With the outbreak of the pandemic in 2020, Sri Lanka Tourism took the initiative to expand the support provided to stakeholders previously overlooked, and reached out to Tour Guides, including National guides, Chauffer Guides, Area Guides and Site Guides, trained and registered with the SLTDA and provided relief totaling LKR 40.52 million. Additionally, as COVID-19 support; Sri Lanka Tourism recognized that there were many unregistered guides who were not able to garner the support extended during a time of crisis hence steps were taken to register Provincial Guides and grant them a one-off payment of Rs. 15,000.00. Further, Provincial licenses were issued to the accommodation providers for the first time.
Sri Lanka Tourism will continue to assist all stakeholders who have been gravely affected by the onset of the pandemic by liaising with relevant line agencies while continuing to explore new markets and promotional channels to attract the ‘new normal’ traveller to ensure the revival and sustainability of the industry. Concurrently the tourism authorities are taking measures to ensure that all tourism industry employees are vaccinated by October as part of the concentrated and systemic vaccination drive carried out by the government.
The inaugural Sri Lanka Fintech Summit 2025 concluded with industry leaders and regulators establishing two critical national priorities: a bold target to reduce physical cash usage and a push for consolidated regulatory oversight.
In a key decision, participants set a clear three-year goal to lower the ratio of cash in circulation to GDP from 4.5% to 3.5%. The strategy will focus on digitizing high-cash sectors like transport, utilities, and SME payments, while expanding digital access through post offices and cooperatives.
For the long-term health of the ecosystem, stakeholders agreed to lobby for the creation of a single, unified regulatory authority dedicated to fintech oversight. This aims to streamline approvals and provide clearer guidance for innovators.
“Our members needed to leave with concrete action points,” said Channa de Silva, Chairman of the Fintech Forum, Sri Lanka. The summit, designed as a series of closed-door roundtables with regulators including the Central Bank, produced actionable frameworks. “It was about defining KPIs, setting targets, and giving the industry a shared direction,” de Silva explained.
The outcomes signal a concerted shift from discussion to execution, aiming to build a more inclusive, efficient, and secure digital financial economy for Sri Lanka.
By Sanath Nanayakkare ✍️
A new force in Sri Lanka’s food industry, Kukus Group, is gaining momentum with a clear vision to deliver authentic cuisine, high hygiene standards, and affordability. Founded by young entrepreneurs Nadeera Senanayaka, Lakmini Gurusinghe, and Randila Gunasinghe, the group has successfully launched its pilot outlet and is now preparing for a significant nationwide expansion.
The inaugural in Kotte has served as a successful proof of concept. Operating for five months, this modern street-food outlet has garnered a strong customer response, confirming market demand and providing the confidence to fund the group’s ambitious growth strategy.
The inaugural in Kotte
“The positive reception has been overwhelming and has solidified our plans,” said Lakmini Gurusinghe and Randila Gunasinghe. “Our Kotte outlet is the operational model we will replicate – ensuring consistent quality, disciplined operations, and excellent service across all future locations.”
The group’s expansion strategy is built on three distinct thematic brands:
Kukus Street: Targeting young urban customers, these outlets offer a vibrant, casual dining experience with a menu of Sri Lankan rice and curry, kottu, snacks, and BBQ, with most meals priced under Rs. 1,500. Services include dine-in, takeaway, and delivery.
Kukus Beach: Planned for coastal areas, beginning in the South, this concept will feature an urban-style beach restaurant and pub designed for relaxed social dining.
Kukus Bioscope: Celebrating Sri Lanka’s cinematic heritage, this dedicated restaurant concept will create a nostalgic cultural space inspired by the golden eras of Sinhala cinema, with the first outlet slated for Colombo.
The immediate plan includes transforming the flagship Kotte location into Kukus Pub & Bar, pending regulatory approvals. The long-term vision is to develop 18 outlets nationwide: 10 Kukus Street locations, 5 Kukus Beach venues, and 3 Kukus Bioscope establishments.
“Kukus Group is more than a hospitality brand; it’s a celebration of Sri Lankan flavors and culture,” the founders concluded. “Our mission is to build trusted, recognizable brands that connect deeply with communities and offer lasting cultural value alongside authentic cuisine. We are dynamic and excited to proceed with this strategic expansion,” they said.
By Sanath Nanayakkare
Fcode Labs marked its seventh anniversary by hosting its annual Awards Night 2025 at Waters Edge, celebrating team achievements and reinforcing its organizational values.
The event featured keynote addresses from Co-Founders & CEOs Buddhishan Manamperi and Tharindu Malawaraarachchi, who reflected on the company’s annual progress and future strategy. Chief Operating Officer Pamaljith Harshapriya outlined operational priorities for the next phase of growth.
Awards were presented across three key categories. Prabhanu Gunaweera and Dushan Pramod received Customer Excellence awards for partner collaboration. Performance Excellence awards were granted to Munsira Mansoor, Thusara Wanigathunga, Thushan De Silva, Adithya Narasinghe, Avantha Dissanayake, Amanda Janmaweera, Sithika Guruge, and Sandali Gunawardena. The Value-Based Behaviour awards were given to Thilina Hewagama, Udara Sembukuttiarachchi, and Kavindu Dhananjaya for exemplifying company values.
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