Business
Tea industry urges productivity-based wage model before it sinks
by Sanath Nanayakkare
The Planters Association yesterday assured that tea industry workers will be able to earn between Rs.40,000-50,000 monthly if a wage model linked to productivity is incorporated when the new collective agreement is signed in January 2021 determining worker wages
“We can even exceed the rhetorical demands made by trade unions and some politicians that tea industry workers should be paid a daily wage of Rs. 1,000. They made these demands without accounting the output, revenue and other facilities provided to the workers who are resident on the estates and are assured of continuous work. We can ensure that if this model is introduced their earnings would go up to Rs. 40,000-50,000 a month, while also guaranteeing them 300-days work during the year,” they said.
The Planters’ Association of Ceylon made these comments at a virtual press conference titled, ‘Towards Sustainable Livelihood for Every Plantation Worker’.
“But to do this, we all need to agree on a revenue model for generating financial income. We can pay higher wages only from the revenue. Depending on external resources to pay wages is not sustainable. Current attendance-based model is not viable. Workers need to be motivated to pluck tea leaf as efficiently as those working in the tea lands of smallholders. In tea smallholdings workers hold the key to productivity. We also have experimented this in our RPCs with encouraging results for all stakeholders and this best practice needs to be incorporated in our collective agreement if the industry is to move forward in the long term,” Bhathiya Bulumulla, chairman of the Planters Association of Ceylon said.
“A productivity-based wage model will give the workers a self-managed entrepreneurial mindset and more dignity where good workers are duly rewarded and then we can also prevent them from migrating to other jobs in cities. In the Covid-!9 situation, plantation industry has not shed a single worker or cut their pay like in many other industries. We must make this resilience more meaningful to the RPCs, trade unions and our workers on an equal scale. We should all therefore work collaboratively for the betterment of the industry or otherwise we would all sink. If a favourable arrangement can be made where workers can earn Rs. 40,000-50,000, I don’t see why there should be any opposition to it from the trade unions,” Planters Association Ceylon spokesman Roshan Rajadurai said.
“Workers who would thus turn out to be valuable partners of RPCs should be able to add to productivity by plucking between 30-40 kilos of tea leaf a day in the same manner it is achieved in tea smallholdings while looking after their respective tea blocks for sustainable plucking for a constant livelihood. The nimble hands of our women workers would also be able to do the same and earn more,” they said.
The Commercial Bank of Ceylon Group has posted robust results for the first quarter of 2025, reporting a net profit of Rs 14.97 billion—up 38.52% year-on-year—on the back of healthy growth in income, assets, and loan advances.
In a stock exchange filing, the Group, which includes Sri Lanka’s largest private sector bank, its subsidiaries, and an associate, reported a 4.27% increase in total assets to Rs 2.999 trillion as of March 31, 2025.
Gross income rose 9.85% to Rs 88.1 billion, while net interest income surged 23.53% to Rs 34.21 billion. Operating income grew by 33.4% to Rs 46.62 billion, and net operating income increased by 25% to Rs 39.39 billion.
Despite a 110.44% increase in impairment provisions, pre-tax profit grew by 34.77% to Rs 22.56 billion, with after-tax profit rising sharply due to effective cost management and improved asset quality.
Chairman Sharhan Muhseen highlighted the milestone of nearing Rs 3 trillion in assets, while MD/CEO Sanath Manatunge noted gains in net interest margin, CASA ratio (now at 39.51%), and a significantly improved Stage 3 loan ratio of 2.58%.
With a capital adequacy ratio well above regulatory requirements and a liquidity coverage ratio exceeding 500%, Commercial Bank remains firmly positioned for continued growth in 2025.
Ceylinco Life, Sri Lanka’s life insurance market leader, recently celebrated its top sales officers at a spectacular two-day event held at Cinnamon Life, Colombo’s premier leisure and entertainment destination. The event combined the company’s ‘High Flyers Day’ and Annual Awards gala, honoring over 250 elite sales officers with 350 awards, including automobiles, for their outstanding achievements in 2024.
The celebrations featured fine dining, entertainment, and overnight accommodation for the honorees. The Annual Awards ceremony, themed ‘Crowning the Titans,’ was graced by distinguished guests from Swiss Re Asia Pacific, Daisy Ning and Sunayana Mahansaria.
2024 marked Ceylinco Life’s 21st consecutive year of market leadership, with gross written premiums reaching Rs 37.14 billion and consolidated income at Rs 65.54 billion. The company paid a record Rs 25 billion in net claims and benefits, while its Life Fund and investment portfolio grew significantly.
Top awardees included M. Manojan (Best Agency Head), S. Ragini (Best Agency Supervisor), A. I. P. Manjula (Best Life Insurance Advisor), and J. Meera (Best Regional Sales Manager).
Dr. Sachini Aththanayaka, Director of Sayora Healthcare (Pvt) Ltd, has been awarded the Excellency Award in the Beauty, Health, and Wellness Services category at the prestigious Entro Queen Excellence – Leading Lady in Business Awards 2025. Recognised for her pioneering work in integrative wellness, Dr. Sachini has transformed Sayora Healthcare into a hub for holistic care, blending modern medicine with natural therapies.
“This recognition motivates me to keep raising the bar, not just for Sayora Healthcare, but for the entire industry,” she said, dedicating the award to women striving for impact in business and beyond.
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