💰 The Economy
📰 Sri Lanka’s tourism revenue rises 13.7 percent in April 2025
Sri Lanka’s foreign exchange earnings from tourism reached USD 256.7 million in April 2025,
reflecting a 13.7 percent increase compared to the same period last year, according to the
Central Bank of Sri Lanka.
Link: https://tinyurl.com/mpceyekj

📰 2024 records all-time high in Sri Lankan overseas employment departures
Sri Lanka recorded a new high in foreign employment departures in 2024, with a total of 314,828
individuals leaving the country for overseas jobs. This marks a 5.8 percent increase compared
to the previous year, and surpasses the earlier record of 310,953 departures in 2022, according
to official data. Meanwhile, official worker remittances rose by 10.1 percent to reach USD 6.6
billion, with the majority of inflows originating from countries in the Middle East.
Link: https://tinyurl.com/yc6uk42z

📰 Colombo Stock Exchange (CSE) rallies beyond 16,100, signaling market optimism
The CSE closed on a strong note, exceeding the 16,100 mark indicating renewed investor
confidence. The All Share Price Index (ASPI) rose 215.07 points (+1.35 percent) to close at
16,131.24, while the S&P SL20 index gained 76.23 points (+1.64 percent) to end at 4,734.03.
This surge was supported by easing global economic tensions, particularly between the U.S. and
China, boosting sentiment across equity markets.
Link: https://tinyurl.com/4bkvsx5j

⚖ Politics & Policy
📰 EDB to lead local apparel exporters to China for technology exposure programme
In September, the Export Development Board (EDB), in collaboration with the Sri Lanka Embassy
in China, will host a Technology Upgradation and Exposure Programme for local apparel
exporters. Participants will attend the Sewing Machinery and Accessories Show (CISMA) 2025;
the world’s largest professional sewing machinery exhibition, and tour leading Chinese apparel
manufacturers, and fabric markets to gain firsthand insight into advanced apparel technologies.
Link: https://tinyurl.com/yc24yu8d

📰 NCE calls on the Government to delay SVAT removal until systems are ready
The National Chamber of Exporters of Sri Lanka (NCE) has urged the Government to adopt a
cautious and consultative approach regarding the proposed removal of the Simplified Value
Added Tax (SVAT) scheme. Representing the interests of the export community, the NCE
emphasized that any changes to the SVAT system should be deferred until all relevant digital
and procedural reforms are fully implemented and tested, ensuring a smooth transition with
minimal disruption to exporters. Therefore, exporters are continuing to urge the authorities to
delay any action on SVAT removal this year.
Link: https://tinyurl.com/y3khp5pn

📰 US invites Sri Lanka for next stage of tariff discourse
Deputy Minister of Finance and Planning Dr. Harshana Suriyapperuma informed Parliament on
08 May that Sri Lanka has been invited to the next phase of negotiations with the United States
regarding export tariffs, which is currently awaiting Cabinet approval. He noted that the

discussions thus far have progressed satisfactorily, crediting Sri Lanka’s timely engagement with
the U.S.
Link: https://tinyurl.com/y5bdfh6p

📰 Government approves foreign-funded grid substation development proposal
The Cabinet of Ministers has approved a proposal by Power and Energy Minister Kumara
Jayakody to proceed with securing a USD 60 million investment for the development of a
proposed grid substation, under the framework of mutual trust extended by the World Bank and
the Asian Development Bank. The Cabinet also approved efforts to obtain a risk guarantee
facility amounting to USD 10 million sponsored by the International Development Institute.
Link: https://tinyurl.com/4hrr7fjv

📰 Terms of new Local Government authorities to commence on 02 June
Elections Commission Chairman R.M.A.L. Rathnayake announced that the official term of the
newly elected Local Government authorities would commence on 02 June.
Link: https://tinyurl.com/mstb432n

📰 CEB proposes 25-35 percent electricity tariff hike amid IMF pressure
The Ceylon Electricity Board (CEB) is considering a 25 to 35 percent electricity tariff increase,
with the International Monetary Fund (IMF) urging Sri Lanka to implement revised rates. CEB
sources confirmed that the proposed hikes align with a pricing formula agreed upon by the CEB
and the Public Utilities Commission of Sri Lanka (PUCSL). The new rates will require PUCSL
approval prior to implementation.
Link: https://tinyurl.com/4jyhz7nr

!? What you need to know
📰 MAS hands over kits to Sri Lanka National Athletes
Bodyline (Pvt.) Ltd, a division of MAS Holdings, officially handed over the 2025 Sri Lanka athletic
kits to the national contingent, as part of Bodyline’s ongoing partnership with Sri Lanka
Athletics (SLA). The handover ceremony, held on 07 April, marks the continued partnership
between Bodyline and SLA, which extends through to the Los Angeles Olympics in 2028.
Link: https://tinyurl.com/ys6dn2vp

📰 Aitken Spence Apparels segment wins two awards
ACE Apparels (Pvt) Ltd and Aitken Spence (Garments) Pvt Ltd, subsidiaries of Aitken Spence
Apparels, were recognized among the top twenty companies at the CPM Best Management
Practices Company Awards 2025, organized by the Chartered Professional Managers Institute of
Sri Lanka.
Link: https://tinyurl.com/4w78bxdp

Disclaimer – This Advisory is intended for circulation among JAAF stakeholders only. Please do
not circulate or share on social media. The Advisory includes economic, political, social and
governance perspectives. This Advisory was prepared by the Strategic Communications Unit of
Adfactors PR Lanka.For inquiries, contact sarah.muiz@adfactorspr.com