November 24, Colombo (LNW): Almost 5,000 people awaiting cardiac procedures at Colombo National Hospital are facing delays so severe that some may wait as long as four years before undergoing life-saving surgery, according to Dr Chamal Sanjeewa, head of the Doctors’ Trade Union Alliance for Medical and Civil Rights.
Drawing on figures released through the Right to Information Act, Dr Sanjeewa said the hospital’s cardiac units are overwhelmed, with individual waiting lists running into the hundreds—and in one ward, well over two thousand. The length of the queues, he warned, places already vulnerable patients at considerable risk.
Many of those waiting come from families with modest means and have no realistic alternative to state care, as private-sector heart surgery typically costs upwards of Rs. 2 million. “For a significant number, the danger is not just the delay but the possibility they may never reach the operating theatre in time,” he cautioned.
Dr Sanjeewa also criticised the government’s budget priorities, noting the absence of targeted assistance from the President’s Fund for patients in urgent need of cardiac interventions. He urged authorities to provide immediate relief and to treat the growing surgical backlog as a national health emergency.
Although the government has announced plans for a 16-storey cardiac complex at the Colombo National Hospital, only Rs. 200 million has been earmarked for the project—an amount Dr Sanjeewa said falls far short of what is required to make a meaningful impact on the crisis.
Thousands Facing Years-Long Wait for Heart Operations at Colombo National Hospital
AI Deep fakes Lure Sri Lankans into Costly Investment Scams
By: Staff Writer
November 24, Colombo (LNW): A chilling new wave of cybercrime is sweeping across Sri Lanka, as scammers use artificial intelligence (AI) to create convincing deep fake videos featuring well-known business leaders, government officials, and celebrities all promoting fake investment schemes that promise extraordinary returns.
At first glance, these slick videos look genuine. Shot as professional “interviews” in Sinhala and seamlessly dubbed into fluent English, they feature familiar faces appearing to endorse financial products or digital platforms. Many of the ads promise staggering profits even claiming returns of up to US$ 12,000 for a US$ 100,000 investment enough to tempt ordinary citizens struggling with the rising cost of living.
But behind these convincing faces lies deception powered by AI. The Central Bank of Sri Lanka (CBSL) has now sounded the alarm, warning that such videos are “entirely fake and artificially generated.” The Bank stressed that it does not promote or support any private investment, crypto currency, or deposit scheme.
“These scams are dangerous because they exploit public trust,” said an officer from Sri Lanka CERT, the country’s main cyber security agency. The technology has become so real that at times, even for a trained eye, it’s tough to figure out. People should understand that anything that seems too good to be true probably is.”
Most of these deep fakes are created overseas by powerful AI tools that can clone voices and facial expressions, according to cyber security analysts.
]Once created, the clips are circulated through Facebook, YouTube, and other social media platforms targeting Sri Lankan users. The intent is simple to build trust using familiar faces and persuade people to deposit money into fraudulent schemes.
Victims are usually led to professional-looking websites or messaging platforms such as WhatsApp or Telegram, where they’re persuaded to invest in dollars or crypto currency. In many cases, they’re shown fake dashboards displaying impressive “profits” to convince them to invest even more. Once significant sums are transferred, the fraudsters disappear without a trace, leaving behind financial ruin and emotional distress.
CBSL’s Financial Consumer Relations Department is urging citizens to be extremely cautious and verify any investment offer through official banking channels. “We encourage the public to report such fake promotions immediately by contacting the Central Bank hotline 1935 or Sri Lanka CERT,” the Bank said in its latest advisory.
Experts fear that as AI technology continues to evolve, these scams could become even more sophisticated and harder to detect. The Central Bank has categorically denied any involvement in such promotions and reiterated that all official communications are released only through verified channels.
“This is not just a cybercrime issue it’s a growing social problem,” a cyber-security expert noted. “People are losing not only their savings but also their confidence in digital information. Combating these scams requires both awareness and caution.”
As AI continues to blur the lines between real and fake, Sri Lankans are being urged to think twice before believing what they see online and to place their trust only in verified financial institutions regulated by the CBSL.
Sri Lanka to Benefit from NZ Expertise in Manufacturing and Innovation
By: Staff Writer
November 24, Colombo (LNW): New Zealand government agency, NZ Product Accelerator (NZPA) charged with helping businesses overseas is ramping up efforts to strengthen ties with Sri Lanka by providing expertise and connections to help develop and commercialise new products and technologies, a senior expert of the agency divulged
It is ready to connect in areas like manufacturing, design innovation, and agricultural technologies with research expertise to address industry or market needs and, at the same time, try and accelerate the development of innovative products and processes in the country, a Senior Materials Expert at the NZPA Dr Karnika De Silva said.
She was in the island on a short visit to establish contacts and help Sri Lankan businesses identify and connect with relevant research expertise within New Zealand’s network.
In doing so, the NZPA brings together over 100 experts from nine research organizations, i.e., 7 universities across New Zealand, facilitating this integration, she disclosed.
“We also tap into our national network of over 300 researchers across eight universities and Crown Research Institutes (CRIs) to identify the right mix of expertise, capabilities, and facilities” Dr Karnika said. .
The New Zealand manufacturing industry is a SME based economy with only a few vertically integrated large companies, so any Innovative technologies by SME will have a significant contribution to the economic growth, she explained
“The NZ Product Accelerator helps businesses, especially SMEs, to define and de-risk their R&D investments, delivering practical solutions faster.
In this contex, EML Consultants Sri Lanka has entered into an agreement with NZPA to adopt its model into its operations through collaboration
This process includes introducing advanced manufacturing through NZ Product Accelerator expertise in automation, digital twins, sensing, robotics, and implementing “AI” in manufacturing, monitoring air pollution, and making sustainable material choices to meet economic, social, and environmental challenges in manufacturing.
EML connects directly with NZPA with relevant NZ research expertise in materials, manufacturing, process integration, or bio-innovation to deliver the test pilot solutions collectively, so that EML can scale or implement its regional projects, in collaboration with or without NZPA.
“In addition, we can introduce our supply chain or value chain stakeholders to EMl for fast delivery of the targeted objectives to their clients” she said.
This collaboration allows EML to tap into NZ’s deep science and engineering expertise within a wider network of expertise in NZ as a one-stop shop while building a track record of inclusive, high-impact innovation in developing markets—delivering mutual benefit to both parties and the communities in both countries they serve.
Ceylon Shipping at Crossroads: Reviving a National Maritime Asset
By: Staff Writer
November 24, Colombo (LNW): Once regarded as a cornerstone of Sri Lanka’s maritime identity, the Ceylon Shipping Corporation Ltd (CSC) stands today as a reminder of both resilience and risk within the state enterprise landscape.
After weathering years of operational and financial storms, the corporation’s return to profitability in 2023/24 offers a glimmer of renewal but also exposes the fragility of its recovery.
CSC’s journey mirrors the fate of Sri Lanka’s broader public sector: burdened by legacy inefficiencies yet striving to redefine its purpose in a global shipping industry transformed by competition, technology, and economic uncertainty, several shipping sector experts said.
CSC was originally set up to serve the country’s import and export shipping needs, with the vision of retaining foreign exchange by reducing reliance on foreign carriers. Operating vessels such as Ceylon Breeze and Ceylon Princess, its income streams today come from voyage earnings, vessel leasing and charter-hiring.
In 2023 alone, the company reported earnings of Rs 878.67 million from voyage income and Rs 5,336.83 million from charter hiring, shipping ministry sources revealed.
But beneath these headline numbers lies a more fragile reality. CSC still carries negative net assets, a clear warning flagged repeatedly in its audit reports, they added.
The primary burden stems from a US$ 70 million loan plus US$ 5.44 million in capitalised interest secured in 2016, used to purchase its two ships.
With the rupee depreciating by 12.4 percent in FY 2023, CSC recorded a massive exchange loss of Rs 2,811.9 million, eroding much of its operational turnaround.
Moreover, despite the 2016 Cabinet decision (No CP/16/0035/737/003) and Public Finance Circular No 415 directing all government importing agencies to prioritise CSC, the policy has been largely ignored.
Between 2021 and 2023, over 300 waivers were granted allowing agencies to bypass CSC and use other shipping providers a major blow to its revenue base and the very purpose of its establishment.
Officials at the Ministry of Ports, Shipping and Aviation are aware of this predicament. As noted in parliamentary documentation, the Ministry remains committed “to make Sri Lanka a service supply centre with maximum competition,” signalling intention to revitalise the shipping sector.
Yet implementation remains weak. A high official of the ministry stated that it has to “ensure that strategic assets such as CSC are firmly embedded within national logistics policy.”
CSC has attempted to diversify exploring container feeder services to Bangladesh and Oman, passenger/ferry operations, and bunkering ventures at Colombo but momentum is slow. Financial constraints, foreign debt exposure, and bureaucratic inertia continue to hold back progress.
External pressures such as port congestion at the Sri Lanka Ports Authority’s Colombo terminal and global shipping disruptions increase its risk profile.
If Sri Lanka wishes to keep CSC as a viable national asset rather than yet another loss-making SOE, decisive intervention is needed.
The government must enforce its import policy, ensuring that all state and donor-funded imports are channelled through CSC, and back it with fiscal and institutional support, shipping sector exper said. .
A strategic partnership model combining private management expertise and state ownership would bring flexibility and innovation to an otherwise stagnant enterprise, he pointed out. .
Investment in digital platforms, optimisation of fleet utilisation, and integration of CSC into the broader Indian Ocean regional logistics network can unlock latent potential.
Without such reforms, the company risks drifting further into irrelevance, losing not just revenue but strategic control over maritime logistics and foreign-exchange flows, he emphasised.
Hidden Risks behind Sri Lanka’s Multi-Billion Rupee Guarantees
By: Staff Writer
November 24, Colombo (LNW): Sri Lanka’s extensive reliance on government guarantees has become a double-edged sword, intertwining public finances with the fortunes of state-owned enterprises (SOEs) and state banks.
As of September 2024, outstanding government guarantees and letters of comfort totaled Rs 1,660 billion roughly 5.5 percent of GDP according to the Finance Ministry.
While these instruments have been critical in financing infrastructure and public services, the International Monetary Fund (IMF) has repeatedly warned of the fiscal risks they carry if left unchecked.
The IMF’s 2025 Technical Assistance Report highlights that “fiscal risks in areas such as state-owned enterprises, guarantees, public-private partnerships, financial sector, and natural disasters remain substantial.”
Much of these guarantees stem from currency swaps and trade credits provided by the Reserve Bank of India to Sri Lanka’s Central Bank, backed by government guarantees. Prominent SOEs, including the Ceylon Electricity Board, Ceylon Petroleum Corporation, Road Development Authority, SriLankan Airlines, and the National Water Supply and Drainage Board, account for over half of these outstanding obligations.
The state banks, the Bank of Ceylon, National Savings Bank, and People’s Bank, have emerged as the biggest local lenders of these guaranteed loans, increasing systemic risks.
Historically, guarantees and on-lending were issued without rigorous credit assessments or safeguards. This approach often subsidized loss-making SOEs to sustain essential services and infrastructure projects, while the absence of clear eligibility criteria allowed indiscriminate guarantee issuance exposing the government to mounting fiscal vulnerability.
In response, Sri Lanka introduced the Public Debt Management Act (PDMA) in June 2024, creating a legal framework for responsible management of guarantees and on-lending.
The PDMA obliges the Public Debt Management Office (PDMO) to conduct credit risk assessments before issuing guarantees, capping support to non-distressed parties. This is complemented by the Public Finance Management Act (PFMA), which lowered the outstanding guarantee ceiling to 15 percent from 7.5 percent of GDP, improving sustainable debt management.
Despite these reforms, the IMF indicates that fiscal risks “remain substantial.” The government has been working on the regulations to implement into operation the PDMA, including the credit risk assessment, mitigation, monitoring, and reporting procedures. These policies will seek to enhance reporting and transparency requirements and closing previous loopholes in fiscal coverage.
Sri Lankan experience provides an example of the delicate balancing act that must be achieved between employing government guarantees to foster economic activity and limiting fiscal risk inherent in them. The success of the PDMA and PFMA will determine whether guarantees prove to be a long-term growth impetus or a chronic fiscal drain.
With the nation setting its economic direction, the path forward is a function of responsible risk management and transparent governance ensuring that the guarantee lifeline never becomes an invisible time bomb for public finances
Lawmakers Raise Concerns Over Land Deals for New Aerodromes
November 24, Colombo (LNW): Sri Lanka’s Committee on Public Finance (CoPF) has pressed officials for clarity on how land is being allocated for the development of new aerodrome facilities, noting that the valuations used in these transactions appear to bear little relation to actual market prices.
During the session, CoPF Chair Dr Harsha de Silva drew particular attention to land acquired for an aerodrome linked to Bandaranaike International Airport.
He pointed out that the Civil Aviation Authority is reportedly paying only Rs. 50,000 per hectare, despite property in the surrounding area fetching around Rs. 1 million per perch—an enormous disparity that, he argued, cannot be overlooked.
Dr de Silva urged the authorities to reassess their procedures to ensure that landowners are treated fairly and that the State’s own financial interests are not compromised.
Members of the committee suggested that a transparent valuation mechanism should be introduced, given the strategic importance of airport expansion and the rising pressure on land near major infrastructure hubs.
US Envoy and Sri Lankan Premier Discuss Deeper Educational Partnership
November 24, Colombo (LNW): The United States Ambassador to Sri Lanka, Julie Chung, held talks with Prime Minister Dr Harini Amarasuriya at Parliament, focusing largely on expanding cooperation in education and cultural engagement.
According to the Prime Minister’s Media Division, Ambassador Chung spoke warmly of the ongoing work of the Peace Corps and a range of joint programmes that have helped strengthen ties between the two countries.
She highlighted the longstanding impact of the Fulbright exchange initiative, which enables students, researchers, and academics from more than 160 nations to pursue study, teaching, and collaborative research in the United States—an effort aimed at cultivating global understanding.
Prime Minister Amarasuriya, in turn, outlined Sri Lanka’s current push to modernise its education system. She noted that the country is seeking specialised expertise to assist reforms across the Ministry of Education, the Department of Examinations, and the National Institute of Education.
The government’s aim, she said, is to move away from an exam-heavy culture and towards more interactive learning methods that prioritise critical thinking, creativity, and continuous assessment.
She also underscored the value of nurturing early-career academics whose fields of study align with Sri Lanka’s long-term development goals, suggesting that international exchange programmes could play a greater role in helping such scholars thrive.
Senior representatives from both nations participated in the discussion. The US delegation included Public Affairs Officer Menaka Nayyar, Dr Patrick McNamara of the US–Sri Lanka Fulbright Commission, and Professor Prabha Manuratne of the University Grants Commission. On the Sri Lankan side, Additional Secretary Sagarika Bogahawatta and Pramuditha Manusighe from the Foreign Affairs Ministry attended the meeting.
New Pension Plan Casts Safety Net for Sri Lanka’s Fishing Community
November 24, Colombo (LNW): Sri Lankan authorities have rolled out a revamped pension initiative designed to offer stronger financial security to those who make their livelihood at sea.
The Fishermen’s Pension Scheme, announced by the Agricultural and Agrarian Insurance Board, aims to provide long-term stability for workers in a profession often marked by unpredictable earnings and significant personal risk.
Under the new arrangement, fishers who keep up with their premium payments are entitled to a regular pension once they reach 60 years of age. Even those who have managed to contribute only three-quarters of the required amount will still qualify for a modest monthly income linked to their contributions, ensuring they are not left without support in later life.
Participants who have paid between a quarter and three-quarters of their required total can reclaim their full contributions, along with the appropriate interest.
The scheme also includes a range of protections for unforeseen circumstances. Individuals who suffer disabilities before reaching pensionable age may receive either a gratuity or a pension once they become eligible, depending on the nature of the condition.
In cases of permanent disability, a payment of up to Rs. 50,000 may be granted, either in one go or spread out over several instalments.
Family members are similarly safeguarded. If a contributor dies in an accident before qualifying for their pension, the nominated heir can claim the accumulated payments, plus interest, after a year. Should a pensioner pass away while receiving benefits, their spouse may continue collecting the monthly payment until turning 80, or opt for the remainder as a lump-sum settlement. Lapsed contributors, meanwhile, can reactivate their membership by settling overdue premiums and interest.
Unveiled at the Lotus Tower in Colombo on the 22nd, the scheme was introduced under the auspices of Minister Lal Kantha, who noted that the programme is intended to give coastal communities a greater sense of financial assurance amid the challenges of a demanding profession.
UAE Voices Support for Sri Lanka After Deadly Landslide
November 24, Colombo (LNW): The United Arab Emirates has conveyed its heartfelt support to Sri Lanka following a devastating landslip in the country’s central highlands that left at least four people dead over the weekend.
Days of unrelenting rain have saturated the steep terrain, heightening the danger of further ground movement and prompting officials to maintain alerts across multiple districts.
In a message released by the Ministry of Foreign Affairs, the UAE extended its deepest sympathies to the families who lost loved ones, as well as to the Sri Lankan government and its citizens.
Emirati officials noted that such disasters underscore the vulnerability of communities living in mountainous regions, especially during periods of prolonged monsoon weather.
Local rescue teams, meanwhile, have been working under difficult conditions as rain continues to hamper access to remote areas. Authorities have urged residents in high-risk zones to remain vigilant and to follow safety advisories until the weather stabilises.
President AKD Marks His 57th Birthday
November 24, Colombo (LNW): Sri Lanka’s President, Anura Kumara Dissanayake, turns 57 today (November 24), marking the occasion as both a personal milestone and a moment of reflection on a political career that has steadily reshaped the country’s left-leaning landscape.
Born in 1968, Dissanayake’s path into public life began far from the centres of power. He grew up in Thambuttegama, where he attended both the local primary school and later the central college, distinguishing himself particularly in mathematics during his advanced level studies. His academic journey continued at the University of Kelaniya, where he pursued a degree in science, graduating in 1995.
It was during his university years that Dissanayake first immersed himself in political activism. Joining the Socialist Students’ Union in the late 1980s, he found himself at the forefront of student-led opposition to the Indo-Lanka Accord. Those early experiences would quietly set the foundations for a political career anchored in grassroots mobilisation and ideological conviction.
With the Janatha Vimukthi Peramuna (JVP) re-organising itself in the early 1990s after years of upheaval, Dissanayake stepped into active politics in 1993. His rise within the party was swift: by 1997 he had become the National Organiser of the Socialist Students’ Union and joined the JVP Central Committee, progressing to the Politburo the following year. His first attempt at electoral politics came in 1999, when he stood as the JVP’s Chief Ministerial candidate for the Central Province. A year later, he entered Parliament through the national list.
His parliamentary tenure gained momentum after the 2004 general election, when he topped the preferential vote count in the Kurunegala District and took charge of a broad ministerial portfolio covering agriculture, lands, irrigation, and livestock under the UPFA government. Over the years, he frequently returned to the legislature, whether through the national list or direct election, representing constituencies including Colombo.
Dissanayake’s influence within the JVP continued to grow, culminating in his election as party leader in 2014. Five years later, he played a key role in establishing the National People’s Power (NPP), a coalition bringing together political movements, civil society groups, and activists in an ambitious bid to reshape national politics.
That long-term effort reached a historic turning point on September 21, 2024, when voters elected him as Sri Lanka’s ninth Executive President—a victory that signalled a decisive shift in public sentiment and placed him at the helm during one of the country’s most challenging periods.
As he celebrates his birthday this year, Dissanayake does so not merely as a long-time parliamentarian or party leader, but as a president tasked with steering a nation eager for stability, reform, and renewed hope. LNW wishes happy birthday to President Anura Kumara Dissanayake.