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Friday November 13th, 2026

What is holding back Sri Lankan Women from entering politics: Lihini Fernando decodes

ECONOMYNEXT – Despite Sri Lankan women having progressed by breaking boundaries in many fields, their participation in the country’s politics has remained abysmal.

United National Party municipal councillor from Moratuwa, Lihini Fernando, says that even though politics is very cut-throat, women would still enter if there is a streamlined process to ease their participation.

She also called for political will from male-counterparts to bridge the gender gap in politics in an interview with EconomyNext.

A first step she says is enforcing a 25 per cent female and youth quota in provincial councils and parliament.

If we look at the number in the recently dissolved eighth Sri Lankan parliament from 2015-2020, only 5.7 per cent of members were women, and the situation will remain unchanged in the upcoming parliament election too.

The major parties have the largest gender-disparity.

The Sri Lanka Podujana Peramuna (SLPP) led by Prime Minister Mahinda Rajapaksa and the Samagi Jana Balavegaya (SJB) led by Sajith Premadasa both have nominated just one woman each from the Colombo electoral district while in other districts there were maximum two women contesting from each party.

According to Fernando, about 40 women are running for this year’s election and out which 20 are from the Janatha Vimukthi Peramuna (JVP) –led National People’s Power, only the female politicians who volunteered are contesting.

The women’s quota was first introduced in the Local Government elections in 2018 where 25 per cent female participation was made mandatory.

Fernando says this pushed political parties to bring in the numbers but there is no regulation as such for Parliamentary General elections and only the female politicians who volunteered are contesting.

“I want to emphasize that the quota of 25 per cent women in parliament should be regularized going forward in provincial councils and then even 25 per cent of women and youth in parliament has to be mandatory,” Fernando said.

A quota will ensure women’s participation

She also emphasized the dire need for an Election Campaign Finance Act in the country.

“For example, one of the reasons why women are fewer in the major parties is because of finances, if you want to run an election campaign you have to have a lot of money.  I do not think women who come in have that amount of money to spend, making it one of the clear drawbacks.”

“JVP women don’t have the pressure because their ecosystem and way of running the campaign is different but if you take the main parties like SLPP and SJB you will need money to run a campaign.”

According to Lihini, it costs about 25 million rupees to campaign throughout the whole district.

“I don’t think a new lady who comes into politics will have that sort of a muscle or mechanism. Which is one of the drawbacks,” she pointed out.

Lihini questions why 25 per cent of the national list for women was not made mandatory.

“I am very sad about this because, during the presidential election, all candidates who came forward said they will bring in all these regulations. It doesn’t have to be a regulation; you can implement if you want” Fernando said.

“Even the national list they can say 25 per cent should be mandatory for women so you can bring in corporate sector women, activists, women who are strong on their legislature to make reforms, but it is not happening.

“I think politicians do not have the will. They do not want to give the position to the women. I say this very strongly, sadly women must fight with men to get their place. Even though we are 52 per cent of the population we must ask the men to recognize us. Women must be way more rebellious to escalate this and find their way.”

India and Pakistan have made progress in bridging the gender gap

In Pakistan the Election Act of 2017 mandated three key areas to improve female participation. First, the Act mandated that returns from any constituency where women’s turnout was less than or equal to 10 per cent be nullified.  Second, it criminalized the practice of preventing a woman from voting in or contesting an election. Third, it required all political parties to list female candidates in at least five per cent of their non-reserved national and provincial assembly seats.

Similarly, in the Constitution of 1973 of Pakistan, 10 seats were reserved for women for a period of ten years from the commencing day of the Constitution or holding of the third general elections to the general election to the National Assembly, whichever occurred later.

In 1985 these ten seats were increased to twenty and in 2002 the reserved seats were increased to sixty by General Pervaiz Musharaf.

On the other hand, India has no legislative quota for female legislators in the Lok Sabha or Rajya Sabha (Upper House of Parliament). While national parties are not required to have female contestants in general elections, a constitutional provision demands that 33 per cent of village council seats be reserved for women. The main goal of these constitutional provisions is to close the gender gap at the lowest level. A quota system at the lowest level might allow for ambitious women to be prepared for political office at the outset of their careers. It also makes the public more accepting of women leaders.

Sons and daughters of “political families” get seats

Fernando said, “what has happened in the Sri Lankan political scenario is it is dominated by a set of people and once they leave their sons and daughters come into politics even if they are qualified or not they automatically get that ticket.”

“If you take the last parliament, there were 15 MPs below 40-years and out of the 15, 12 were somebody’s son or daughter. Only three people came from independent sources. That is the sad irony of politics.”

She also pointed out that it is hard for professionals to get into politics. “For instances, I’m a lawyer and because of my profession I’m doing politics and able to fund myself at the same time but people who are working in the private sector for them to come into politics they have to quit their jobs.”

“If we are serious about bringing in young and educated people into politics then there needs to be some sort of mechanism to do so, such as if there are organizations set up and these people are funded.” (Colombo, July 27, 2020)

 

 

Sri Lanka stocks close down 0.60-pct, dragged by HNB and LOLC

ECONOMYNEXT – Sri Lanka’s Colombo Stock Exchange closed down on Friday, CSE data showed, with the benchmark All Share Price Index moving down 0.60 percent.

The ASPI was down 133.22 points at 22,024.18, while the more liquid S&P SL20 was down 1.06 percent, or 67.55 points, at 6,298.02.

The ASPI ended the week up 784.53 points from last Friday.

Positive contributors to the ASPI were Dialog Axiata (up 0.40 percent at 50.20 rupees), Distilleries Company of Sri Lanka (up 0.52 percent at 58.30 rupees), Aitken Spence (up 3.60 percent at 151.00 rupees), Ceylon Tobacco Company (up 1.05 percent at 1,828.50 rupees), and LOLC Finance (up 1.96 percent at 5.20 rupees).

Hatton National Bank (down 1.88 percent at 403.75 rupees), Richard Pieris and Company (down 6.21 percent at 27.20 rupees), LOLC Holdings (down 2.17 percent at 405.00 rupees), Sampath Bank (down 1.91 percent at 154.00 rupees), and Singer (Sri Lanka) (down 2.40 percent at 77.30 rupees) were top negative contributors.

Market turnover was 3.23 billion rupees. Capital goods led turnover with 869.21 million rupees. (Colombo/Nov13/2026)

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Sri Lanka MP slams budget speech for omitting Tamil national question

ECONOMYNEXT – A Sri Lanka legislator has voiced strong disappointment that the President’s budget speech failed to make a single mention of the Tamil national question.

“It is very unfortunate that in His Excellency the President’s speech, there has not been a single word mentioned about the Tamil national question. Not a single word,” Shanakiyan Rasamanickam said.

“A budget speech generally, is a policy direction of the government for the next year. The budget speech is not only a statement of the country’s fiscal position or the economy’s position. It is the country’s, the government’s, plan, or what the government plans to do the following year. That’s a policy statement.”

Former presidents would at least mention the Tamil question even if it was not resolved, he said.

Former President Ranil Wickremesinghe in his speech, in his policy statement, he would mention: “The Tamil national question must be resolved,” Rasamanickam said.

Former Presidents Maithripala Sirisena and Gotabaya Rajapaksa also mentioned that the national ethnic question must be resolved, he added.

“Every President, every country’s Head of State, in their policy statements, have acknowledged the fact that there is an unresolved national issue, the Tamil national question, that it needs to be resolved. Various governments have proposed various mechanisms; none of them have succeeded, but at least it was mentioned.”

This year’s budget made allocations for the Office of Missing Persons, and the Office of Reparations.

“But the domestic mechanism is a mechanism that the victim community has rejected. So you all are allocating money to a mechanism where the victim community is not going to be part of.”

Last year’s budget 1 billion was allocated to be spent on the Trincomalee and Jaffna airports.

“Where was that 1 billion for the Trincomalee and Jaffna airports spent last year?”

“The trajectory of this government, Honourable Deputy Speaker, is worrying to me. It’s really worrying to me. Because if the objective is to say that there is no Tamil national question, if the objective is to say that you all have resolved any ethnic issue that this country faced, then Honourable Deputy Speaker, then I think the Tamil people will teach this government a very, very, very harsh lesson in the future.” (Colombo/Nov13/2026)

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Sri Lanka sells extra Rs6.5bn Treasury bills after auction

ECONOMYNEXT – Sri Lanka has sold 6,500 million rupees of treasury bills offered on tap at an average rate of 9.95 percent, the public debt management office said, bringing the total of bills sold in the week to 85.562 billion rupees.

The issue offered 90 billion.

Total market subscription was 6.5 billion rupees.

The debt office sold a 12-month bill at 9.95 percent.

On Wednesday (11) the debt office raised 79 billion rupees of 3, 6 and 12 month bills after offering 90 billion.

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Sri Lanka Treasury bill yields hold broadly steady, less bills sold

The settlement date is November 13. (Colombo/Nov13/2026)

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Access Engineering Sept quarter group net profit surges 200-pct to Rs4.75bn

ECONOMYNEXT — Sri Lanka’s Access Engineering PLC recorded a group net profit attributable to equity holders of Rs. 4.75 billion for the quarter ended September 30, surging 200 percent from Rs. 1.58 billion a year earlier, interim accounts showed.

Basic earnings per share rose to Rs. 4.08 for the September quarter, up from Rs. 1.58 previously.

Quarterly group revenue expanded 36 percent to Rs. 20.39 billion from Rs. 14.94 billion, underpinned by condominium property handovers — reflected in inventories dropping Rs. 7.69 billion since March to Rs. 35.71 billion — alongside strong automobile sales and steady civil engineering execution.

Cost of sales rose at a slower 27 percent to Rs. 14.34 billion, lifting gross profit by 64 percent to Rs. 6.05 billion and expanding gross margins to 29.7 percent from 24.7 percent.

Other income jumped 144 percent to Rs. 259.9 million, while administrative expenses rose 75 percent to Rs. 1.14 billion, leaving operating profit up 64 percent at Rs. 5.16 billion.

However, finance costs more than doubled, rising 107 percent to Rs. 1.18 billion on elevated group borrowings of Rs. 43.74 billion, partly offset by finance income climbing 302 percent to Rs. 42.2 million.

Share of results from equity-accounted investees rose 122 percent to Rs. 26.7 million, pushing pre-tax profit up 56 percent to Rs. 4.05 billion.

Income tax swung to a net reversal of Rs. 186.6 million from an expense of Rs. 804.1 million, boosted by deferred tax assets on unrelieved losses from a 100 percent enhanced capital allowance claimed by 60 percent-owned radiopharmaceutical subsidiary Access Medical Tracers (Private) Limited.

Total period profit rose 136 percent to Rs. 4.24 billion, with non-controlling interest declining 24 percent to Rs. 164.9 million following last year’s buyout of minority shareholders in Harbour Village (Private) Limited.

No separate exchange gain or loss was itemized in quarterly earnings, though foreign currency translation via associates recorded a Rs. 17.4 million loss in other comprehensive income, alongside USD 16.6 million in corporate guarantees.

Notes also flagged an expected Rs. 1.45 billion recovery from the terminated South Asia Commercial and Logistics Hub project, a Rs. 225 million post-quarter legal settlement already provided for, and a Supreme Court appeal over a 2011/12 PAYE tax ruling.

Group assets stood at Rs. 132.4 billion as of September 30, with net asset value per share at Rs. 46.70, as the Employees’ Provident Fund raised its stake to 5.69 percent.

Access Engineering shares closed at 80.00 rupees at the end of September and are currently trading around 85.80 rupees. (Colombo/Nov13/2026)

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Sri Lanka private sector says timely implementation of Budget 2027 key

ECONOMYNEXT – Private sector body, The Ceylon Chamber of Commerce, said it was encouraged by the broad direction of Budget 2027, noting that it reinforces Sri Lanka’s commitment to economic transformation while maintaining policy continuity, macroeconomic stability, and fiscal discipline.

“This continuity is particularly important as the country seeks to transition from economic stabilisation to a more durable, investment-led growth trajectory.”

The chamber also noted several areas where the Budget could have placed greater emphasis to strengthen the country’s growth prospects.

“In particular, there is a need for a stronger focus on attracting Foreign Direct Investment (FDI), accelerating factor market reforms, particularly in land and labour, and fast-tracking public procurement reforms to improve the efficiency and speed of project implementation.

“More targeted and actionable proposals could have been introduced to unlock the potential of sectors with significant growth opportunities, including tourism, agriculture, IT/BPO and logistics.”

The chamber said the budget contains positive measures aimed at enhancing competitiveness, and external sector resilience, while presenting opportunities for focus on sectors that can accelerate growth.

“A number of the key structural reforms identified in last year’s Budget have been carried forward and strengthened, providing greater certainty and predictability to businesses and investors.

“These include the continued implementation of the Trade National Single Window (TNSW), the phased removal of para-tariffs, the rollout of the Digital ID framework, efforts to expand market access through new Free Trade Agreements (FTAs), the strengthening of one-stop-shop investment facilitation mechanisms, progress on Customs reforms, the expansion of Bandaranaike International Airport (BIA), enhanced financing support for SMEs, and reforms relating to the management of State-Owned Enterprises.”

The CCC said that more than 20 proposals submitted by it have been reflected in Budget 2027.

These include measures to strengthen investor facilitation through the establishment of a professionally managed investment promotion agency; continued efforts to improve trade facilitation and export competitiveness; the Government’s consideration of a successor programme with the International Monetary Fund (IMF); accelerated progress on key legislative reforms; the expansion of digital government services; and the promotion of cashless payments and broader digital adoption. The Budget has also captured several priorities relating to energy security, including the accelerated deployment of Battery Energy Storage Systems (BESS) and investments in fuel storage infrastructure, initiatives to optimize underutilized agricultural land, measures to support the expansion of the digital economy and the IT/BPO sector, and tax reforms to support exporters, including the acceptance of newly VAT-registered exporters as eligible exporters.

“The inclusion of these priorities reflects the value of sustained public-private dialogue and demonstrates increasing alignment between national policy objectives and the needs of a competitive, export-oriented economy.

“The priority now must be effective and timely implementation to translate policy commitments into investment, competitiveness, exports and sustainable growth.” (Colombo/Nov13/2026)

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Sri Lanka stocks trend lower day after budget reading

ECONOMYNEXT – Sri Lanka’s Colombo Stock Exchange was trending lower on Friday, CSE data showed, with the benchmark All Share Price Index moving down 0.66 percent.

The ASPI was down 146.78 points at 22,011, while the more liquid S&P SL20 was down 0.94 percent, or 59.99 points, at 6,306.

Positive contributors to the ASPI were Access Engineering (up 1.30 percent at 85.80 rupees), LAUGFS Gas (up 3.31 percent at 49.90 rupees), Ceylon Tobacco Company (up 1.13 percent at 1,830 rupees), Ceylon Cold Stores (up 0.80 percent at 126 rupees), and Namunukula Plantations (up 1.79 percent at 68.10 rupees).

LOLC Holdings (down 1.03 percent at 409.75 rupees), Hatton National Bank (down 0.61 percent at 409 rupees), Sunshine Holdings (down 3.81 percent at 30.30 rupees), and Sampath Bank (down 1.91 percent at 154 rupees) were top negative contributors.

Market turnover was 1.55 billion rupees. Capital goods led turnover with 459.57 million rupees. (Colombo/Nov13/2026)

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