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Saturday October 17th, 2026

Sri Lanka Peradeniya University student suicide puts spotlight back on ragging

ECONOMYNEXT – The apparent suicide of an undergraduate student in Sri Lanka’s Peradeniya University has once again resulted in heated debate about ragging at the island nation’s state-run institutes of higher education.

The body of the 24-year-old, fourth-year* psychology undergraduate was discovered in the Mahaweli river Wednesday September 21 evening, police said, in the central district of Kandy, five days after he was reported missing.

*UPDATE added to clarify that he was a fourth-year student

A postmortem has yet to be performed, but sources at the campus told EconomyNext that they suspect the student was driven to suicide either after he was subject to ragging by fellow students or as a result of immense academic pressure faced by senior students.

Hours before the body was discovered, Peradeniya police had arrested three students in connection with an assault that occurred at a university canteen the previous week.

An alumni association of the university’s Department of Law said on Friday September 16, the day the student went missing, that 12 law students were assaulted by a “violent mob” from the Faculty of Arts on September 14.

“The alumni strongly believe [the attack] was a targeted and premeditated attack committed by…undergraduates of the Faculty of Arts who support and perpetuate ragging,” their statement said.

The Department of Law had an “unwavering no-ragging policy,” they said.

The assault was allegedly a result of anti-ragging students eating in an area they had been banned from.

The Law Students’ Union of Sri Lanka and the Independant Law Student Movement also released a joint statement condemning the assault.

Ragging is prohibited in Sri Lanka by the Educational Institutes Act.

Though some faculties and universities have successfully weeded out ragging culture, sources said that the seniors in some faculties of the Peradeniya University perpetuate an insidious method of keeping the cycle going.

“Someone came up with the idea of passing down the campus cards,” one source said.

“If you get the card of a senior who is considered a big shot, then you automatically get respect. But the juniors don’t just get the cards. To pass down a card, the seniors first rag the entire batch to find out who is worthy. So the juniors also want to get ragged, because of the perks of having a good card.”

Several sources confirmed that juniors were barred from accessing certain areas and clubs without the card, or permission from seniors.

Pro-ragging students are of the opinion that ragging is a part of “campus culture” and fosters a camaraderie colloquially referred to as the “batch fit.”

Some of the more severe cases of ragging have involved rape and sexual exploitation.

According to the University Grants Commission (UGC), only around 22 per cent of the students who sat for the 2020 Advanced Level Examinations were selected for university.

Students undergo an immense amount of pressure to sit for the notoriously difficult examination and enter university.

Sources from the university said that the relentless pressure from seniors and peers made their lives “hell,” even though they had worked hard to secure their place in the institute and were looking forward to university life.

Ragging season in state campuses encourages alumni to go on power trips, couching humiliating requests and subversive, arbitrary rules in terms of “batch fit”-building as a method of getting students closer together, several students said.

Even in universities with no ragging, small actions, such as student enforced dress code and language policies are used to keep the junior students on their toes.

“It’s very subtle, with seniors enforcing a hierarchy by taking an overt interest in fresher activities,” one student told EconomyNext.

“Some kids were forced to perform in tournaments despite being injured, and these kinds of things are made into issues of ‘respect’ toward the seniors, or to the university.”

The student said that such subtle actions were regarded as “not so serious rags and should be tolerated.”

“The hostels have a dress code for the girls. They have to wear a yellow ribbon or scrunchie to identify themselves,” the student said.

“Ironically, these things take away your right to visual expression in a place that is supposed to be for universal education and diversity.”

A source from the Peradeniya University said, “Everyone thought COVID would end ragging, but it didn’t. Everything just got worse.”

“We can’t speak up even if we want to, because we don’t want to get ragged,” they said.

Anti-ragging activists say that the ragging culture transforms the country’s universities, which are supposed to foster educated, well rounded individuals, into breeding grounds for discrimination and corruption.

In its letter, the Alumni of the Peradeniya Law Faculty said “During a crucial era where [students] rally together to be forerunners in effectuating systemic change in the socio-political trajectory of the country, it is deeply disappointing to see some undergraduates resorting to brutality and violence, charaded in the name of ‘equality,’ and violate the very law of the country that they accuse politicians of violating.” (Colombo/Sep21/2022)

Sri Lanka delays key socio-economic report over data accuracy, compilation 

ECONOMYNEXT – The release of Sri Lanka’s Household Income and Expenditure Survey (HIES) report for 2025 will be delayed by two months due to more time needed for the accurate compilation, the Parliament said in a statement.

The data for HIES is collected and compiled by the Department of Census and Statistics (DCS), operating under the Ministry of Finance, Planning and Economic Development.

The Parliament Committee on Public Finance (CoPF) early this week discussed the current situation regarding poverty, income distribution, and household welfare.

Attention focused on the collection of social and economic data, the scientific methodologies used to calculate the poverty line, and how that data is utilized for policymaking.

The relevant data are collected by the Ministry of Finance, Planning and Economic Development, the Department of Census and Statistics, the Central Bank of Sri Lanka, and the Welfare Benefits Board,

“Officials informed the committee that although the report was originally scheduled for release in October 2026, the release date has been deferred to December 2026 due to complexities in data cleaning, delays in computerization, cadre vacancies, and work related to the Economic Survey,” the Parliament said in a statement on Friday (16).

“It was revealed during the discussion that data was gathered from 25,000 households island-wide over a 12-month period for this survey, and data cleaning, verification, and analysis work are currently underway.”

“The necessity of publishing the results of such surveys in a timely manner to identify changes in economic and social conditions more accurately was emphasized.”

It said the necessity of updating the consumer basket used to calculate the poverty line to reflect contemporary social and economic changes was highlighted.

“Discussions particularly focused on whether calculations based on outdated data and commodity baskets accurately reflect the current cost of living and basic public needs.”

“Attention was also drawn to the requirement that data used in identifying beneficiaries for social welfare programs such as Aswesuma accurately reflect current household income and expenditure levels.”

Despite consecutive rounds of economic stabilization and fiscal consolidation, Sri Lanka continues to suffer significant social spending leakages and fiscal inefficiencies due to the absence of a unified, accurate, and real-time household data architecture.

Legacy welfare mechanisms have historically relied on outdated administrative registries, localized self-reporting, and fragmented institutional databases, creating severe inclusion and exclusion errors where non-poor households capture state relief while vulnerable agrarian populations remain omitted.

Attempts to rationalize relief mechanisms such as universal energy and fuel price cushions deployed during external market shocks further highlight these structural vulnerabilities, as the state lacks the integrated digital infrastructure required to deliver targeted, end-user cash transfers to specific groups like smallholder farmers, informal transport operators, and micro-entrepreneurs.

Consequently, policy implementations like the Aswesuma welfare scheme continue to face operational friction, leaving fiscal allocations exposed to administrative leakages and diminishing the overall efficacy of state safety nets during broader macroeconomic shocks. (Colombo/October 16/2026)

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Sri Lanka rupee closes at 331.25/35 to US dollar spot, bond yields edge up

ECONOMYNEXT – Sri Lanka’s rupee closed at 331.25/35 to the US dollar in the spot market on Friday, weaker from 331.15/25 the previous day, while bond yields edged up, dealers said.

A bond maturing on 01.08.2030 closed at 11.40/50 percent, up from 11.35/40 percent.

A bond maturing on 15.10.2030 closed at 11.50/55 percent, up from 11.40/45 percent.

A bond maturing on 01.02.2031 closed at 11.55/65 percent, up from 11.45/50 percent.

A bond maturing on 15.12.2032 closed at 11.80/90 percent, up from 11.75/85 percent.

A bond maturing on 15.10.2034 closed at 12.25/35 percent, up from 12.20/30 percent. (Colombo/Oct16/2026)

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Sri Lanka stocks close up 1.07-pct on Friday, turnover at Rs1.14bn

ECONOMYNEXT – Sri Lanka’s Colombo Stock Exchange closed higher on Friday, CSE data showed, with the benchmark All Share Price Index moving up 1.07 percent.

The ASPI was up 213.90 points at 20,185.05, while the more liquid S&P SL20 was up 0.82 percent, or 46.74 points, at 5,745.76.

Positive contributors to the ASPI were Dialog Axiata (up 3.53 percent at 44.00 rupees), Ceylon Cold Stores (up 3.63 percent at 121.25 rupees), Distilleries Company of Sri Lanka (up 2.95 percent at 52.30 rupees), Hatton National Bank (up 0.80 percent at 378.00 rupees), and Softlogic Capital (up 15.38 percent at 9.00 rupees).

Carson Cumberbatch (down 3.07 percent at 678.50 rupees), LOLC Finance (down 2.08 percent at 4.70 rupees), Vallibel One (down 1.05 percent at 85.00 rupees), and Ceylon Tobacco Company (down 0.44 percent at 1,770.25 rupees) were top negative contributors.

Market turnover was 1.14 billion rupees. The Materials Industry Group led turnover with 273.33 million rupees, followed by the Banks Industry Group with 236.3 million rupees.

Crossings were observed in CIC Holdings, Seylan Bank, Distilleries Company of Sri Lanka, and People’s Leasing & Finance, with the largest crossing recorded in CIC Holdings at 46.5 million rupees, according to Dewangi De Silva, Assistant Manager – Research at NDB Securities.

Renewable energy firm Vidullanka said it received a Letter of Acceptance for a 1.35 million US dollar mini hydro Engineering, Procurement, and Construction (EPC) contract in Fiji. Awarded by the Department of Energy under Fiji’s Ministry of Public Works, Meteorological Services and Transport, the turnkey EPC project covers the design, supply, installation, testing, and commissioning of a 100-kilowatt mini hydro plant at Buca Village, marking the group’s entry into the Pacific island region. (Colombo/Oct16/2026)

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Kurdistan delegation, Sri Lanka business body discuss expanding trade beyond tea

ECONOMYNEXT – A delegation from Kurdistan Iraq visiting Sri Lanka have discussed expanding trade beyond tea to other sectors, the Ceylon Chamber of Commerce said.

The team, who were in the country to participate in the Sri Lanka Economic & Investment Summit 2026, expressed interest in exploring further business and investment opportunities, the chamber said.

“Discussions covered expanding trade beyond tea, Sri Lanka’s traditional export to Iraq, with potential in food and beverages, agriculture, food manufacturing for export, higher education and tourism.”

The chamber was committed to facilitating business connections and supporting investment opportunities between the two markets Chairperson Krishan Balendra said.

The team invited the chamber to visit Kurdistan to explore opportunities in the region, identifying opportunities for further engagement to develop new commercial links across several sectors. (Colombo/Oct16/2026)

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Sri Lanka’s Vidullanka secures $1.35mn mini hydro contract in Fiji

ECONOMYNEXT — Sri Lanka energy firm Vidullanka has received a Letter of Acceptance for a 1.35 million US dollar mini hydro Engineering, Procurement, and Construction (EPC) contract in Fiji, the company said in a market filing.

The contract was awarded by the Department of Energy under Fiji’s Ministry of Public Works, Meteorological Services and Transport.

Under the project scope, Vidullanka will execute the turnkey EPC works, covering the design, supply, installation, testing, and commissioning of a 100-kilowatt (kW) mini hydro facility located at Buca Village in Fiji.

“This contract marks Vidullanka PLC’s entry into the Pacific island region’s renewable energy sector, building upon the Group’s established track record of international EPC execution in South America (Guyana) and East Africa,” the company said.

The company had submitted its original bid for the tender on December 18, 2025, and received the official Letter of Acceptance dated October 13, 2026.

“The award further reinforces the Group’s strategy to diversify its revenue streams into foreign-currency-denominated EPC and specialized technical engineering service contracts,” the company stated.

Vidullanka said it will now complete the procedural and administrative formalities required under the tender conditions leading up to the execution of the formal agreement with the Fijian awarding agency.

The company added that further disclosures will be made to the Colombo Stock Exchange once the formal contracts are signed. (Colombo/Oct16/2026)

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US grants $17mn to modernise Colombo port digital systems

ECONOMYNEXT – The United States has announced a 17 million US dollar grant to modernise digital systems and maritime documentation at the Port of Colombo, the Sri Lanka Ports Authority (SLPA) said.

US Ambassador to Sri Lanka Eric Stern Meyer announced the grant during a visit to the Colombo port, following discussions with senior maritime officials and government ministers.

“Powered by U.S. innovation and expertise, we will accelerate Sri Lanka’s port modernization, strengthen U.S. supply chains, and create opportunities for American technology firms,” Meyer said.

The funding is aimed at upgrading Sri Lanka’s Maritime Single Window and Port Community System, which manage documentation, regulatory clearances, and data sharing across the port.

“This funding will support the digital infrastructure used for maritime documentation, regulatory procedures, and information exchange among port stakeholders,” Meyer said.

The planned digital upgrade is designed to improve coordination between the SLPA, Customs, terminal operators, shipping lines, and other key agencies involved in daily cargo handling.

“Better integration of maritime data and administrative processes will reduce paperwork, improve cargo clearance, and support more efficient vessel and cargo operations,” SLPA Chairman Parakrama Dissanayake said.

Modernising these core digital systems is vital to strengthening trade facilitation at the Port of Colombo, which operates as a primary transshipment hub in the Indian Ocean, officials noted. (Colombo/Oct16/2026)

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