The Ceylon Chamber of Commerce has called for coordinated measures to safeguard Sri Lanka’s economic stability, warning that the evolving global situation and escalating conflict in the Middle East could pose fresh risks to the country.
In a statement, the Chamber said it remains ready to work with the Government to address potential economic challenges and has already submitted detailed policy recommendations.
The Chamber said that in its March 11, 2026 submission, it had recommended prioritising the continuation of the IMF programme and ensuring the timely receipt of upcoming tranches. It also proposed a more dynamic fuel pricing mechanism and the reintroduction of the QR system for fuel distribution, noting that steps have already been taken on those fuel-related measures.
Among its earlier recommendations were faster fuel procurement, ensuring adequate fertiliser stocks for the upcoming cultivation season, strengthening tourism promotion — especially in markets such as India and East Asia — accelerating port clearance processes, and reviewing policies that may add pressure on foreign exchange reserves.
Building on those proposals, the Chamber said it has this week suggested several additional measures to ensure continuity of economic activity while protecting critical sectors.
These include identifying a clear list of essential services and priority economic sectors to guide the allocation of key resources such as fuel and foreign exchange in the event of supply disruptions.
The Chamber also urged the Government to adopt a strategic approach to fuel procurement by exploring supply arrangements with a wider pool of international suppliers, while stressing that the availability of aviation fuel is vital to sustain inbound tourism.
It further proposed allowing licensed local bunkering companies to procure fuel independently for supply to export-oriented industries and tourism operators, possibly on a foreign currency basis, noting that similar arrangements had been used successfully during the recent economic crisis.
To reduce fuel consumption while maintaining economic activity, the Chamber suggested flexible work arrangements, including work-from-home options where feasible, in both the public and private sectors. It also proposed that the Government consider advancing the closure of schools and universities ahead of the Awurudu holidays, while temporarily using online learning where possible.
In addition, the Chamber recommended temporarily limiting non-essential foreign currency outflows while prioritising foreign exchange for critical imports such as fuel, food, pharmaceuticals, and inputs required for export industries.
The Ceylon Chamber said close coordination between the Government and private sector would be critical to navigate potential global shocks and maintain economic stability, adding that businesses should be kept informed of policy measures under consideration to enable effective planning and response. (Newswire)
- Key Measures Proposed by Ceylon Chamber
Ensure continuation of IMF programme and timely tranche disbursements
Reintroduce Fuel QR system and adopt dynamic fuel pricing
Fast-track fuel procurement and diversify international suppliers
Identify essential services and priority sectors for fuel and forex allocation
Strengthen tourism promotion targeting India and East Asia
Introduce work-from-home and flexible work arrangements to reduce fuel use
Limit non-essential forex outflows and prioritise critical imports