Sri Lanka trade minister meets Indian counterparts

Monday September 29, 2025 4:15 pm

ECONOMYNEXT – Sri Lanka’s Minister of Trade Wasantha Samarasinghe has met India’s Minister of Food Processing Industries Shri Chirag Paswan and Minister of State for Cooperation Shri Murlidhar Moholvisited, a government statement said.

Discussions focused on “strengthening bilateral cooperation in the areas of food security, cooperative development, and capacity building, while also reviewing avenues for enhanced collaboration across other sectors of mutual interest”.

Samarasinghe met officials of National Cooperative Export Limited (NCEL) and National Agricultural Cooperative Marketing Federation of India Ltd. (NAFED).

“The discussions centered around opportunities for exports and marketing of agricultural products, capacity building, and the sharing of best practices in cooperative models, supply chain management, and commodity trading.”

Samarasinghe and Ministry Secretary K A Vimalenthirarajah participated in World Food India 2025 where he met heads of agri-business and food companies, and engaged with representatives of industry participating associations

The event provided “a platform to explore partnerships, investment opportunities, and technology exchanges in food processing, agriculture, and related sectors”. (Colombo/Sep29/2025)

Monday September 29, 2025 5:00 pm

ECONOMYNEXT – Sri Lanka’s rupee closed at 302.55/60 to the US dollar on Monday weaker from 302.50/55 on Friday, while bond yields closed broadly steady, dealers said.

A bond maturing on 15.12.2026 closed at 8.25/35 percent, up from 8.25/30 percent.

A bond maturing on 15.09.2027 closed flat at 8.75/85 percent.

A bond maturing on 15.10.2028 closed at 9.10/17 percent.

A bond maturing on 15.12.2029 closed at 9.55/60 percent, up from 9.54/60 percent.

A bond maturing on 01.07.2030 closed at 9.68/72 percent, up from 9.67/70 percent.

A bond maturing on 15.12.2032 closed at 10.45/50 percent, up from 10.43/48 percent. (Colombo/Sep29/2025)

Monday September 29, 2025 3:47 pm

ECONOMYNEXT – The Colombo stock exchange closed up on Monday mostly due to retail participation, brokers said.

The All Share Price Index was up 0.36 percent, or 77.31 points, at 21,676; while the S&P SL20 was up 0.13 percent, or 7.64 points, at 6,119.

“It was a relatively slow day; market turnover was 4.2 billion rupees – well below the monthly average of 7 billion,” Ranjan Ranatunga, Assistant Vice President – Research at First Capital said.

“High net worth participation was low, it was mostly retail participation.”

Popular stocks included plantation shares, coming off commodity prices, he said.

“There was also interest in manufacturing sector stocks.”

Top contributors to the ASPI were Carson Cumberbatch (up 92 rupees at 881), Melstacorp (up 3 rupees at 169), John Keells Holdings (up 20 cents at 22.30 rupees), Namunukula Plantations (up 93 rupees at 643.75) and Watawala Plantations (up 2.30 rupees at 40.20). (Colombo/Sep29/2025)

Monday September 29, 2025 2:21 pm

ECONOMYNEXT – The Ceylon Chamber has noted some concerns about Sri Lanka’s draft Public-Private Partnership (PPP) Bill, and submitted its proposals including ensuring the independence of the proposed National Agency for PPPs and strengthening competitive safeguards around unsolicited proposals.

The chamber said the government’s effort to introduce a legislative framework for PPPs through the Draft Public-Private Partnership (PPP) Bill is a requisite precursor to enhancing Sri Lanka’s ability to attract private investment in infrastructure and service delivery.

“At the same time, we note several concerns that warrant further attention. These include ensuring the independence of the proposed National Agency for PPPs, strengthening competitive safeguards around unsolicited proposals, enhancing fiscal transparency through clearer reporting requirements, and providing more robust mechanisms for dispute resolution.”

Addressing these issues will be vital to build investor confidence and safeguard the public interest, the chamber said.

“If the Bill is to operate as a clear and comprehensive framework, it is important to clarify its legal standing to avoid overlaps with existing laws, improve disclosure requirements to build public trust, align project evaluation processes with international best practices, and embed environmental, social, and governance (ESG) standards to ensure projects contribute to sustainable development.”

The importance of safeguarding the independence of the proposed National PPP Agency, ensuring qualified appointments with Parliamentary oversight, and introducing stronger conflict-of-interest provisions is also critical, the chamber pointed out.

“We welcomed the opportunity to share private sector inputs during the consultation process with the National Agency for Public–Private Partnership and the Asian Development Bank, as private sector perspectives are essential to shaping a transparent, credible, and investment-friendly PPP framework.

“The Ceylon Chamber hopes that the draft legislation will progress through the approval process and lead to the establishment of a strong and independent National Agency for PPPs, and stands ready to work closely with the Government and relevant agencies to support the implementation of a credible and internationally aligned PPP framework, which will be essential if Sri Lanka is to mobilise private capital on a large scale and close its infrastructure investment gap.”

Link to the comprehensive submission: https://www.chamber.lk/wp-
content/uploads/2025/09/Ceylon_Chamber_Submission_on_Draft_PPP_Bill_22Sept.pdf

The chamber praised positive aspects of the Bill, including “the mandated value-for-money and feasibility assessments, enhanced transparency through stakeholder consultation and public disclosure, clear risk allocation to the private sector, and the establishment of a dedicated National PPP Agency with a clear mandate”.

“These provisions are in line with international best practices and can significantly improve the environment for private sector participation.

“Amidst a tight fiscal environment for the Government, we believe PPPs will be conducive for driving projects that will enhance growth, create jobs and bring in private capital.” (Colombo/Sep29/2025)