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Who cries for Hambantota, and why?

Daily FT

|

September 24, 2025

This article is written to set the record straight in response to misleading narratives about the recent Litro Gas tender. It is not about protecting one company’s interest, but about revealing how Hambantota, if rationally utilised, can deliver long-overdue benefits to Sri Lanka’s economy and people.

- By Dr.W.K.H. Wegapitiya

For time immemorial, Sri Lanka has been a decisive node in global trade.

Hambantota: A location the world cannot ignore

From the days of the Silk Route, Ceylon—as it was then called—connected East and West. Historical records from the Godawaya port in Hambantota show how this southern coast played a role in international trade centuries ago. After 75 years of independence, despite every Government repeating Hambantota’s location-specific advantage as an election slogan, little was done to convert that advantage into real economic prosperity.

For more than two decades, successive Governments in Sri Lanka have spoken of making the country an “energy hub of the Indian Ocean.” It has been an easy slogan to roll off the tongue in Budget speeches, election manifestos, and policy documents. Yet, when we examine the record, very little has been achieved in practice. No new refinery has been built, no LNG terminal has been established, and no major strategic hydrocarbon storage project has been delivered. Instead, Sri Lanka has spent nearly twenty years locked in cycles of negotiations with so-called investors that ended in disappointment.

LAUGFS: A bold Sri Lankan enterprise

Into this vacuum of political promises stepped LAUGFS Gas, a homegrown Sri Lankan energy brand with a history of courage. At a time when multinational giants like Shell dominated the LPG trade, LAUGFS broke the monopoly and secured space for local enterprise. No downstream LPG player can survive without an import terminal. LAUGEFS recognised early that Sri Lanka’s energy future—and its own—depended on building large-scale infrastructure. What set the company apart was its willingness to risk capital and pioneer at Hambantota, even when others hesitated.

Daily FT'den DAHA FAZLA HİKAYE

Daily FT

Daily FT

Marikkar tears into Rs. 500 b Supplementary Estimate

SAMAGI Jana Balawegaya (SJB) MP S.M. Marikkar yesterday tore into the Government's Rs. 500 billion Supplementary Estimate for post-Ditwah recovery in 2026.

time to read

1 min

December 19, 2025

Daily FT

SSC certainly mean business

SSC certainly means business the way they have launched their campaign to win the Tier B 3-day league and gain promotion next year to the Major Clubs 3-day league.

time to read

1 mins

December 19, 2025

Daily FT

Daily FT

HNB General Insurance wins Gold award in Insurance Sector at National Management Excellence Awards 2025

HNB General Insurance has been crowned the Gold Winner in the Insurance Sector at the National Management Excellence Awards (NMEA) 2025, organised by the Institute of Management of Sri Lanka (IMSL).

time to read

2 mins

December 19, 2025

Daily FT

Sampath Bank announces two-year Rs. 20 b capital raising program

SAMPATH Bank PLC has moved to strengthen its Basel III Tier Il regulatory capital through a proposed Rs. 20 billion listed debenture program, to be implemented in phases over the next two years.

time to read

1 min

December 19, 2025

Daily FT

Daily FT

Evolution Auto launches Riddara RD6 Active

Auto has officially announced the launch of the Riddara RD6 Active, the country's latest all-electric double-cab pickup, which was unveiled at the prestigious BMICH Motor Show.

time to read

2 mins

December 19, 2025

Daily FT

Daily FT

Tourism levy revenue rises as Govt. pushes unified nation brand and community-centred growth

Tourism Minister Vijitha Herath SRI Lanka's tourism sector is being steered towards a more integrated, communityfocused, and strategically branded future, with revenues from the Tourism Development Levy (TDL) continuing to rise and a renewed policy emphasis on positioning the country under a single national brand, Foreign Affairs, Foreign Employment and Tourism Minister Vijitha Herath told Parliament.

time to read

3 mins

December 19, 2025

Daily FT

Daily FT

Colombo Shopping Festival 40th edition officially inaugurated

THE 40th edition of Colombo Shopping Festival was has inaugurated by, Aitken Spence Travels Managing Director Nalin Jayasundera with the participation of event partners and exhibitors.

time to read

1 min

December 19, 2025

Daily FT

Daily FT

HNB strengthens national response to Cyclone Ditwah with Rs. 100 m commitment

HNB PLC has contributed Rs. 100 million towards the Rebuilding Sri Lanka Fund, reinforcing its commitment to national recovery efforts following the devastation caused by Cyclone Ditwah.

time to read

1 min

December 19, 2025

Daily FT

Daily FT

Economist warns IMF RFI too costly for Sri Lanka

Verité Research Chief warns Sri Lanka poised to repeat past mistakes amid cyclone recovery funding push Argues IMF RFI financing effective rate exceeds 6% and time-based surcharges add further 2.75% after three years IMF Executive Board decides on $ 200 m RFI today

time to read

3 mins

December 19, 2025

Daily FT

Daily FT

Appeals Court clears Home LandsPentara project to proceed

Court refuses injunctions with costs, Home Lands continues with Rs. 30-35 b Pentara Residences construction Notes that Home Lands had obtained all necessary approvals from relevant authorities, and engaged in the construction process for several months Project is largest residential development investment, and Rs. 4.5 b land transaction highest in history of Colombo

time to read

3 mins

December 19, 2025

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