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Friday November 13th, 2026

A Sermon on Stoning

It is generally assumed we have passed the Stone Age, the Bronze Age, the Iron Age, the Industrial Age, and the space age.  After a breath-taking dive into the digital age, we are well on our way to the age of automation and artificial intelligence.

Not quite. In Sri Lanka, we are trapped in a new Stone-age. An age of stoning. Or to be precise, we are now in an age fascinated with the idea of stoning people to death.

The reader is invited to listen to the ‘Anusasana’ of the most venerable Warakagoda Sri Gnanarathana thero Mahanayake of the Asgiriya chapter that is available online which was not telecast by any of the major channels. 

Listening to the sermon of the erudite ecclesiastic who is emblematic of the faith that is now referred to as Sinhala Buddhism, it is evident that the Sinhala Buddhist mental makeup is well and truly fossilised in the stone age.

Intellectuals are judged not by the quality of their ideas. The benchmark applicable is the capacity of the audience to discern the truth from falsity. But that is not the case with institutional faith, moribund in feudal antiquity.

The idea of ‘Bana Preaching’ is that the ‘Bana Preacher’  knows best.  The common Sinhala idiom that dismisses profound inanities as ‘Bana Talking’ is based on the premise that ‘Bana’ and banalities are not by definition accurate but considered appealing to the devout but not to the discerning. In short reason and ‘bana’ are not always synonymous. 

What did the venerable prelate say? Did he advise the faithful to stone anybody? The answer is an emphatic ‘no’. He did not say that. But he seemed titillated by the idea.

He begins his homily by expressing his overwhelming delight on hearing the news that Chamal Rajapaksa will very soon become the President of the country. He goes on to advise parliamentarian Mayantha Dissanayake in the gathering, to cross over to the side that he considers being righteous to save and protect the country.

He makes a pointed reference to the plea made by Mayantha Dissanayake, where the young parliamentarian had urged the attendees not to discriminate against Muslims. That is the one instance where he utters the word Muslim. Henceforth it is the third person pronoun ‘they’ he relies on to identify the adversary of all Buddhists.  

The Venerable prelate proceeds to assure us that he too endorsed the suggestion that Buddhists must not patronise Muslim shops and eateries.

He refers to a doctor from Matale who he claims had performed the heroic deed of obliterating several lakhs of our children. He asks: ‘what should we do with such traitors to the nation? ‘

With reverential religiosity, he says ‘I am reminded of a call made by some‘Upsakamammas’ (female devotees) that such villains should be stoned to death. Now I am not saying that that is what we should do. But I say that that is the punishment they deserve.” 

It would be wrong to say that the leading monk advocated the barbaric practice of stoning people to death. He merely found it to be a salutary idea.

That is the mistake we make, when we inject tribal religion into politics. If pure religious ideology and values such as empathy, tolerance and devotion to moral scruples are guiding principles, then we will certainly have a benevolent government. But that is not how it works.

The constitutional primacy accorded to Buddhism has been in practice a Carte Blanche for the institutionalised clergy to hold its grip on public credulity by wielding power without responsibility or accountability. What looked good on paper has lost its lustre. That is evident only if one cares to examine how it has really impacted real people.

We are not a theocracy and we must resist any move to make it one. We must acknowledge the reality of a Sinhala Buddhist majority. But we must not overestimate the influence of the priestly class on our politics.

We cannot decide who is ordained a monk or what should be the minimum standards observed by the wearer of robes. That said, we can at least strive to elect politicians who may be Sinhala Buddhists, but are practitioners of universal values.

The current cosy cohabitation between the Sangha institution and the political class is the result of the  adulteration of positive Buddhist values  over the years since independence. The process of adulteration turned in to deliberate distortion by the myth we created, by claiming that we fought and triumphed in a humanitarian war.

Who are we? In this election year, we must define ourselves. How do we define citizenship? Are citizens to be classified according to faith? The answer is an emphatic ‘no’. Citizens form the entire political community. All citizens are inherently entitled to certain rights and also have certain duties towards the community.

Our society, we hope, is governed by the rule of law. And that is applicable to all including the venerable Mahanayake theros. Our society is governed by accepted rules that precludes and prohibits randomness in application and arbitrary use for political purposes.  

Our democracy relies on representatives chosen in free and fair elections. We are not obliged to make Chamal Rajapaksa our next president, but the Mahanayake Thero of Asgiriya is free to vote for him and is also free to persuade others to follow him.  But he must not or should not promise purgatory to Mayantha Dissanayake if he chooses to do otherwise.

All our citizens are entitled to the freedom of conscience. Every citizen is free to publicly express his or her views, as long as they do not lead to harm for others. Every citizen is entitled to practice any religious, spiritual or philosophical tradition of their own choice.  

What is pivotal to our wellbeing is the clear separation between organized religion and the Government. The enforcement of religious doctrines is not the task of Mahinda Rajapaksa, Maithripala Sirisena or Ranil Wickremesinghe. And more importantly the enforcement of laws is not the task of the clergy of any spiritual persuasion.

Mahinda Rajapaksa’s genius is that he has defined his persona in terms of a religious cosmology of his own. No other politician comes close to him. Hence the undisguised delight of the Mahanayake Thero of Asgiriya on the idea of a Chamal Rajapaksa’s proxy presidency.

Sri Lanka needs leaders who are not moved by religious cosmology in the age of automation and artificial intelligence.  Politics is the business of addressing the ills of this world by practical measure. I live in hope. As Stephen Hawkins who summed up the problem, we need not remain trapped in this archaic tribal world. 

“There is a fundamental difference between religion, which is based on authority, and science, which is based on observation and reason. Science will win because it works.” 

We must recognise evil when it appears. Evil is the moment when we lack the strength to be true to the good that compels us. It was heartening to learn that young Mayantha Dissanayake was driven by the good that compelled him to plead for understanding and tolerance.

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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