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Friday November 13th, 2026

Coronavirus crisis in Sri Lanka, the time to quit smoking: IPS

ECONOMYNEXT – The World Health Organization and doctors in Sri Lanka’s state health service have said that smokers are at higher risk if they contract Coronavirus.

In this analysis Chathurga Karunanayake, a Research Assistant at the Institute of Policy Studies of Sri Lanka (IPS) argues that quitting smoking will not only boost public health but will strengthen resistance to Covid-19 now and in the future. The author can be contacted at chathurga@ips.lk.

Smoking Epidemic and COVID-19 Pandemic: Now is the Perfect Time to Quit

According to the WHO, the link between smoking and COVID-19 is well-established; the habitharms the body,especially the cardiovascular and respiratory system. Research confirms that smokers are 1.4 times more likely to sufferthe severe symptoms of COVID-19 and approximately 2.4 times more likely to be admitted to an ICU, need mechanical ventilation, or die, compared to non-smokers.Given that lung function improves in as little as one month after quitting smoking, and after nine months’ time, lung function doubles and the risk of serious infection reduces substantially,giving up smoking now can help fight COVID-19 or the upcoming waves of it.

According to the WHO Sri Lanka, over half (51.8%) of the current smokers have attempted to quit smoking, while 34.4% of former daily smokers have already quit smoking. AsIPS research shows, cessation support has an important role to play in reducing smoking prevalence, especially when it is combined with other policy interventions. AsSri Lanka continues itsstrict social distancing measures, closing all supermarkets, private pharmacies, and groceries, and imposing curfews to control the spread of COVID-19, the daily routines of smokers are disrupted already.A majority are off work and confined to their homes, reducing the opportunities to smoke and to buy tobacco.

In addition, with many requests made by professional bodies to ban the sale of cigarettes in view of the pandemic, smokers will be motivated to give up, as the threat to their lives is closer to home now than ever before.

Therefore, the current situation in Sri Lanka can drive smokers to quit if they are approached through proper cessation channels. That said, it is possible that the intensity of smoking may increase, owing to social isolation (provided they have enough cigarettes for consumption); IPS research suggests that loneliness could lead to continuation in smoking. The good news is that these can be controlled through proper cessation channels.

Furthermore, as this pandemic is alreadydisrupting the economy, smoking will become relatively more expensive to people, especially for those who rely on daily wages, as they do not have much of an income right now to purchase cigarettes.Thiswill be an additional incentive for them to quit.Thus, it is important to use this opportunity wisely,to help people to finally kick the habit, through properly targeted cessation channels.

Cessation Programmes in Sri Lanka and the Country’s Readiness

IPS researchshows that Sri Lanka’s current efforts in tobacco cessation focus on changing the behaviour of people,byconducting diversified programmes that targetdifferent groups. These programmes include educative sessions, trainings, one to one counselling, a national quit line, and awareness campaignsvia electronic and print media.

According to the Strategy for Tobacco Cessation in Sri Lanka 2020-2025, the two complementary approaches used are community tobacco cessation and clinical cessation. While community cessation programmes such as ‘tobacco free villages’ are identified as more cost-effective, as theyhelp a large number of people at once,to quit smoking within a short period of time, persons with the addiction are requiredto get support under clinical settings.

However, given that the current situation in the country encourages self-isolation and social distancing, there aremany challenges indelivering cessation support, and as such,prevailing cessation programmes in the country are likely to struggle to help smokers to quit in the immediate future.

Quick, Cost-effective Cessation Support during the Pandemic
International evidence suggests that, during an outbreak, the most successful way of controlling smoking is through online cessation channels, such as mass-media anti-smoking campaigns andfree smoke-free mobile appsthat assist smokers with personal quit plans.

Therefore, it is suggested that more online support is introduced in Sri Lanka, in addition to raising awareness and increasing the capacity of the national quit line already in use.For instance, mobile apps can be used to encourage people to quit smoking through a quit plan or a schedule that can be used during their stay at homes, while telephone calls and text messages can be used to deliver programmes remotely to help the smokersstick to the plan.This support can be introduced quickly and at a relatively low cost.

Support should be coupled with an awareness campaign, including using social media to inform people on how smoking could trigger the symptoms of the outbreak, and traditional mediachannels can be used to inform the people aboutthe deadly combination of smoking and COVID-19 as a social message.While the government has included smoking cessation advice in thehealth messages on tackling the spread of COVID-19, it is important that those messages are extended tothe general public through all radio channels, television programmes, social media, and text messages.

Way Forward: A Start to a Stop!

As highlighted earlier, smoking is strongly associated with greater risk of hospitalisation and deaths from COVID-19. Thus, smokers should seriously consider quitting now. This will improve their immunity, lung function, respiratory systems, and reduce their risk of serious symptoms that could later lead to death.

As Sri Lanka strives to overcome the deadly COVID-19 through its health and safety measures,using timely cessation channels such as social media, online support, mobile apps, radios, text messages, and telephone calls are very important and come in handy at a time like this, whenpeople are advised to be inself-isolation andpractice social-distancing. Reducing smoking rates through proper cessation support can help to make the population more resilient to the pandemic, and as such, should be key in the public health response.

Finally, if Sri Lanka can make this crisis an opportunity to incentivise smokers to successfully quit, it will be a great win, not only in terms of curbing the risk of the pandemic but also, in avoiding the burdens that future waves could bring into the public health system and more generally, in terms of reducing all the other negative health impacts of smoking in the longer term. Therefore, this is a window of opportunity to reduce tobacco prevalence for good.

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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