An Echelon Media Company
Friday November 13th, 2026

Deal with the families of missing with more compassion

STILL WAITING – Relatives of missing persons demonstrate in an undated photo, anxiously awaiting information

This article is submitted by Dr Jehan Perera, Executive Director of the National Peace Council of Sri Lanka

A former diplomat who tried to be a bridge between the government and human rights activists during the immediate post-war years with some success, once said that it was not possible to expect a government to self-indict itself. President Gotabaya Rajapaksa’s recent assertion that those reported missing from the war are actually dead and the government is not responsible for their fate is a continuation of a long-standing policy of denial. During the last period of government in which he held office as Defense Secretary, between 2009 when the war ended and 2015 when the government he worked for lost power, the government position was that there were no unaccounted missing persons as a result of government action, but only as a result of the LTTE or else, they had left the country for foreign climes.

In the immediate aftermath of the war, the government position was that there were zero civilian casualties. The government decision was to have no engagement at all on the issue. This position had popular support from the majority of the country’s ethnically divided population. With regard to the controversial last phase of the war, the LTTE contributed to the high death toll by holding at least 300,000 civilians as human shields to make it more difficult for the Sri Lankan security forces to engage them in direct combat. The position of the government was that the security forces did their utmost to minimize civilian casualties and therefore did not employ heavy weapons. As for the treatment meted out to surrendered LTTE leaders and cadre, the government was able to show the rehabilitation and release of more than 12,000 of them.

This situation of denial which is unacceptable to those whose focus is human rights as against national security, only changed after the defeat of the Rajapaksa government in 2015. Most governments in the world would tend to do what President Rajapaksa appears to be doing, which is to defend the armed forces to the hilt against accusations of human rights violations especially when they are seen to be fighting the country’s mortal enemies. President Donald Trump in the United States has exemplified this approach by recently pardoning a US military officer convicted of wantonly killing Iraq civilians, and whose conduct was so atrocious that evidence against him was given by his own soldiers.

Facing Geneva

However, the Sirisena-Wickremesinghe government that took power did not have the same concern about self-indicting themselves for crimes committed during the war as they were not decision-makers during the last phase of the war the violence intensified. They agreed to a process of truth-seeking, accountability, reparation and institutional reform that was unique for a state that had finally defeated its mortal foe. But as the focus was the last phase of the war, this was not supported by the general population or by most leaders in the government itself. One reason was that they saw a double standard in those who had ignored earlier phases of the war that had also seen clear manifestations of war crimes. These atrocities included the LTTE killing of 600 policemen who had surrendered to the LTTE on government orders in 1990 and the wiping out of the Mullaitivu army camp consisting of over one thousand soldiers in 1996 with no prisoners taken.

Towards the end of February the government will face the UN Human Rights Council in Geneva and make its case regarding the implementation of Resolution 30/1 and issues arising out of it. While there are some areas in which implementation has been successful, such as signing and ratifying the International Convention for the Protection of All Persons from Enforced Disappearance there are other areas in which implementation has been slow and even non-existent. Examples of the latter are the setting up of the Office on Missing Persons which has yet to find a single missing person due to various obstacles, and in holding perpetrators to account for attacks on journalists, human rights defenders, religious minorities and civil society. There have also been areas in which there has been no progress at all such as the establishment of a judicial mechanism to ensure accountability which has yet to take place.

It is in the run-up to the forthcoming UN Human Rights Council meeting in Geneva that President Gotabaya Rajapaksa made his controversial statement that there were no survivors to be found amongst those who went missing. This is similar to what former Prime Minister Ranil Wickremesinghe said in an interview with the international media in 2016. He said that those who had surrendered at the end of the war and were still missing in Sri Lanka were most probably dead. This assertion by the Prime Minister was strongly criticized at that time by families of the victims, civil society and international human rights groups. The statement issued by the Women’s Action Network regarding President Rajapaksa’s recent statement has been particularly forthright.

Consoling Victims

With the ratification of the International Convention for the Protection of All Persons from Enforced Disappearance and the passage of enabling legislation “Every victim and relative of the victim shall have the right to know the truth regarding the circumstances of an enforced disappearance, the progress and results of the investigation as are carried out by the law enforcement authorities, and the fate of the disappeared person.” (Act No. 5 of 2018, sec. 14(1).) The WAN statement notes that “Families have long resisted the government’s efforts to silence their demands with death certificates and compensation. Their concerns and input helped create the Certificate of Absence procedure in the OMP Act (Act No. 14 of 2016, section 13). As relatives of the disappeared passionately show by occupying the streets, truth is not just about determining if loved ones are alive, but instead determining the full scope of what happened.”

The government’s preferred solution appears to be to have the Office on Missing Persons declare those missing as dead and award compensation to their families. But this will not be acceptable to the families of missing persons who will not accept a general pronouncement by the government that their loved ones are dead even if they have been missing for ten years or more. They will also want to know when and where they died and if possible how? This is also the position of those whose relatives went missing during the period of the JVP insurgency in the late 1980s. One such is a colleague of mine whose brother was taken away by government death squads in 1989. He continues to want to know what happened to his brother. He has an inkling of what happened but is not sure and he wants to know. He will not stop his quest for the truth, and neither will the tens of thousands of others who are similarly situated.

During the presidential election campaign President Rajapaksa pledged to release all military personnel who were imprisoned for what had happened during the war. He will want to keep his promise. The war was a failure of the entire system of government to which all parties and communities contributed. It was not the fault of one side alone. At the same time, to the extent possible, the government led by President Rajapaksa, who said he would be the president of all Sri Lankans, needs to ensure that the grief of the families of the missing is respected, and that they are looked after economically, and sustained emotionally, for the rest of their traumatized lives. Those whose loved ones went missing need to be consoled. They need to be shown compassion and solidarity. This may be the best that can be done at this time. One by one the wives and parents of those who went missing are dying of illness and old age without knowing the truth. (Colombo, February 5, 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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