The Motor Traffic Department (MTD) of Sri Lanka is undergoing a significant technological and functional overhaul, following the introduction of a new comprehensive IT solution developed through a partnership with a private firm.

The initiative involves the design, development, testing, installation, commissioning, operation, and maintenance of a new information system under the Build-Own-Operate (BOO) model.

This strategic shift aims to streamline services and reduce delays, including the issuance of 130,000 driving licenses, which were delayed due to previous printing backlogs.

Steps will be taken to print and issue the 130,000 accumulated driving license cards, delayed due to previous printing backlogs, within January.

Additionally, services within the institution will be streamlined and maintained through an online system, Transport, Highways, Ports and Civil Aviation Deputy Minister said.

Transport and Highways Deputy Minister Dr. Prasanna Kumara Gunasena and Ports and Aviation Deputy Minister Janitha Ruwan Kodithuwakku made these remarks during an emergency inspection tour of the Werahera premises of the Department of Motor Transport.

During the visit, the Ministers inspected the structure and functioning of the institution. They announced plans to transform it into a more efficient, service-oriented public institution by replacing the current technical methods with modern, more effective alternatives.

The Ministers emphasised that the new government’s policy is to achieve a historic transformation by the end of 2025.

They highlighted their commitment to implementing the necessary measures to realise these aspirations.

Rather than focusing solely on physical infrastructure development, such as constructing buildings, the government aims to prioritise human resources and skills development to enhance the efficiency of service delivery.

The government’s goal is to transform the MTD into a more efficient, service-oriented public institution by replacing outdated technical methods with modern, more effective alternatives.

The transformation will not only improve operational systems but also focus on the development of human resources and skills to enhance service delivery. The process is set to be completed by the end of 2025, in line with the government’s broader policy objectives.

The procurement process is being carefully managed through a Standard Cabinet Appointed Procurement Committee (SCAPC) and Technical Evaluation Committee (TEC), with the current service provider continuing operations for an additional six months.

A new joint venture firm will be selected for the new IT system through a transparent process.

 New smart driving licenses will feature high-security polycarbonate cards with a QR code, which can be scanned by police for easy access to driver and vehicle details. The system is designed to reduce costs for the government, as the private sector will finance the project.

This overhaul is part of the government’s long-term strategy to modernize the MTD, minimize delays in service delivery, and improve overall customer satisfaction, with a focus on utilizing the private sector’s expertise and innovation.

A delegation from CEAT, part of India’s RPG Group, met with the Sri Lanka Export Development Board (EDB) to discuss broadening its presence in the island nation by diversifying its rubber product portfolio.

 CEAT CEO Arnab Banerjee led the team in discussions with EDB Chairman Mangala Wijesinghe at the EDB headquarters in Colombo.

Banerjee provided an overview of RPG’s operations, spanning agriculture, engineering, and rubber, while highlighting CEAT’s recent acquisition of the CAMSO brand, a product now manufactured in Sri Lanka under RPG’s ownership.

The EDB welcomed CEAT’s expansion initiatives, with Wijesinghe emphasizing investment opportunities in sectors such as pharmaceuticals, ICT, agriculture, and logistics.

The meeting was attended by senior officials from CEAT, including Chief Financial Officer Vipul Vaid, Chief Executive of CEAT Specialty Amit Tolani, and Managing Director and CEO of CEAT Sri Lanka Ravi Dadlani.

CEAT Kelani Holdings, a major tyre manufacturer in Sri Lanka, fulfills over 50% of the nation’s pneumatic tyre demand and maintains a dominant market share in multiple segments, including tyres for passenger cars, SUVs, motorcycles, and agricultural vehicles.

The company operates through an extensive dealer network nationwide, offering customers access to its wide range of products.

CEAT’s growth strategy was further reinforced by its December 2024 acquisition of Michelin’s off-highway tyre and tracks business in Sri Lanka, including two production plants and the CAMSO brand.

This deal reflects CEAT’s commitment to innovation and its vital role in Sri Lanka’s economic development.

Notably, Fitch Ratings has affirmed CEAT Kelani Holdings’ ‘AA+(lka)’ National Long-Term Rating with a Stable Outlook, highlighting its financial stability and robust market position.

Meanwhile, Michelin announced its plans to phase out bias tyre production globally, which includes the sale of its bias tyre and compact construction equipment tracks business in Sri Lanka to CEAT.

he deal, effective after a three-year licensing period, transfers ownership of the CAMSO brand to CEAT. Despite this, Michelin reiterated its commitment to maintaining other operations in Sri Lanka and modernizing its facilities.

The acquisition builds on the legacy of Loadstar, a Belgian-initiated business later sold to Camso before Michelin took over. Michelin’s Senior Vice President, Nour Bouhassoun, expressed confidence in CEAT’s ability to carry forward the bias tyres and tracks business.

CEAT’s expansion plans and its strategic acquisition underscore its ambition to cement its position as a leading player in the global rubber sector while driving economic growth in Sri Lanka.

The Colombo Stock Exchange (CSE) experienced a significant drop today (03), ending an unprecedented 26-day rally. Key indices recorded substantial declines, with the All Share Price Index (ASPI) falling by 299.13 points to close at 16,049.42. The S&P SL20 Index also dropped by 46.05 points, closing at 4,925.82.

The day’s trading turnover reached Rs. 11.48 billion, with notable contributions from:

• Browns Investments: Rs. 1.03 billion
• John Keells Holdings: Rs. 882 million
• HNB: Rs. 401 million
• Sampath Bank: Rs. 350 million
• LOLC Holdings: Rs. 305 million

The downturn was attributed to falling share prices in key companies, including Sampath Bank, Commercial Bank, LOLC Holdings, Melstacorp, and Hayleys. A total of 189 companies reported lower share prices compared to the previous trading day.

Market analysts cited profit-taking and investor caution following the sustained rally as primary factors behind the decline.

Former Sri Lankan President Ranil Wickremesinghe met with Nepali Prime Minister K.P. Sharma Oli at the Prime Minister’s residence in Baluwatar, Nepal.

During the meeting, the two leaders discussed enhancing bilateral relations and explored various aspects of mutual interest between Sri Lanka and Nepal, according to a statement from the Nepali Prime Minister’s press office.

Wickremesinghe, known for his longstanding friendship with Prime Minister Oli, arrived in Nepal on a private visit on December 28. His visit marks another chapter in the strong interpersonal and diplomatic ties between the two leaders. He is scheduled to return to Sri Lanka today.