Business
IPS advocates stricter regulations for Alcohol Control in Sri Lanka at the “Policy Dialogue on Alcohol Control for a Healthier Sri Lanka”
Recent statistics paint a stark picture of alcohol-related challenges facing Sri Lanka, with an alarming 83% of deaths attributed to non-communicable diseases (NCDs). Alcohol consumption emerges as a prominent risk factor for NCDs, exacerbating health costs and contributing to issues such as road accidents and domestic violence. Despite its perceived economic benefits, the economic toll of alcohol-related conditions surpasses any revenue generated. The World Health Organization (WHO) estimates that in 2015 alone, the economic cost of alcohol-related conditions amounted to a staggering USD 885.86 million, equivalent to 1.07% of Sri Lanka’s GDP for that year.
In light of these pressing concerns, the Institute of Policy Studies of Sri Lanka (IPS) recently hosted a “Policy Dialogue on Alcohol Control for a Healthier Sri Lanka”, at the Saman Kelegama Memorial Auditorium, IPS. The event aimed to advocate for evidence-based alcohol control policies, drawing from findings of the IPS’ “RESET Alcohol Initiative” programme, funded by RESET Alcohol – A Global Alcohol Policy Initiative which delves into critical aspects of alcohol policy, including pricing, taxation, and the broader political economy dynamics at play.
Dr Nisha Arunatilake, Director of Research at IPS, and Pubudu Sumansekara, Consultant for the Sri Lanka RESET Alcohol Initiative, explained the RESET Alcohol Initiative, which aims to change the disconnect between the public perception of alcohol as a social necessity, and its grave health consequences.
In his keynote speech, Dr Alan Ludovyke, Chairman of the National Alcohol and Tobacco Authority highlighted the health costs of alcohol consumption and the disproportionate burden of alcohol-related violence and health issues on vulnerable communities. He stressed the imperative for collaborative efforts among the Government, think tanks, media, and civil society to address these challenges.
The dialogue featured three insightful panel discussions moderated by Dr Nisha Arunatilake, Dr Sajeeva Ranaweera, from the Sri Lanka Medical Association (SLMA) – Expert Committee on Tobacco and Illicit Drugs and Dr Alan Ludovyke, focusing on key aspects of alcohol policy, including price sensitivity of alcohol, revenue implications, and power dynamics of alcohol control. IPS Research Economist Ms Priyanka Jayawardena presented compelling evidence of the economic burden imposed by NCDs, where households spend 10% of their monthly budget on alcohol. She presented evidence that supports alcohol taxation as a cost-effective measure to reduce NCD risk factors, particularly among low-income groups. The progressive nature of alcohol taxation, where higher-income groups bear more tax burden, was underscored as a means to positively influence household economic and health benefits.
IPS Research Fellow Dr Lakmini Fernando highlighted the potential of increased excise duty rates to reduce alcohol consumption while generating government revenue, contributing to economic recovery. Challenges related to data availability for accurate modelling were acknowledged, emphasising the need for quality disaggregated data for informed policy decisions. Recommendations from the panel highlighted the importance of designing a medium-term alcohol tax policy that considers both revenue generation and health impacts, ensuring a balanced approach to alcohol control. IPS Research Economist Ms Sunimalee Madurawala discussed the intricate dynamics of industry interference in alcohol policy and proposed strategies to mitigate its adverse effects on public health.
The policy dialogue, which saw the participation of key stakeholders, including government officials, medical professionals, and civil society representatives underscored the critical need for evidence-based, collaborative approaches to alcohol control in Sri Lanka, balancing health objectives with economic considerations and addressing industry influences effectively.
The Delegation of German Industry and Commerce in Sri Lanka (AHK Sri Lanka) proudly facilitated the first-ever Sri Lankan delegation’s participation at Drupa 2024, the world’s largest trade fair for the printing industry and technology. Held after an eight-year hiatus, Drupa 2024 was a landmark event, marking significant advancements and opportunities in the global printing industry.
AHK Sri Lanka played a pivotal role in organising and supporting the delegation, which comprised 17 members from the Sri Lanka Association for Printers (SLAP), representing eight companies from the commercial, newspaper, stationery printing, and packaging industries. This pioneering effort by AHK Sri Lanka not only showcased the diverse capabilities of Sri Lanka’s printing sector but also facilitated vital bilateral discussions with key stakeholders from the German printing industry.
Business
Unveiling Ayugiri: Browns Hotels & Resorts sets the stage for a new era in luxury Ayurveda Wellness
In a captivating reimagining of luxury wellness tourism, Browns Hotels & Resorts proudly unveiled the exquisite Ayugiri Ayurveda Wellness Resort Sigiriya. This momentous occasion, celebrated amidst a vibrant and serene grand opening on the 6th of June, heralds a new chapter in the Ayurveda wellness tourism landscape in Sri Lanka. Nestled amidst 54 acres of unspoiled natural splendour, Ayugiri features 22 exclusive suites and stands out as the only luxury Ayurveda wellness resort in the country offering plunge pools in every room, rendering it truly one-of-a-kind.
The grand opening of Ayugiri Ayurveda Wellness Resort was an enchanting event, where guests were captivated by the melodies of flutists and violinists resonating through Sigiriya’s lush landscapes. As traditional drummers and dancers infused the air with vibrant energy, Browns Hotels & Resorts’ CEO, Eksath Wijeratne, Kotaro Katsuki, Acting Ambassador for the Embassy of Japan and General Manager, Buwaneka Bandara, unveiled the resort’s new logo, marking a significant moment witnessed by distinguished guests from the French Embassy, Ayurveda and wellness enthusiasts along with officials from the Sigiriya area, LOLC Holdings and Browns Group.
“Our strategic expansion into wellness tourism with Ayugiri Ayurveda Wellness Resort Sigiriya symbolises a significant milestone for Browns Hotels & Resorts. Wellness tourism has consistently outperformed the overall tourism industry for over a decade, reflecting a growing global interest in travel that goes beyond leisure to offer rejuvenation and holistic well-being. By integrating the timeless wisdom of Ayurveda with modern luxury, we aim to set a new standard in luxury wellness tourism in Sri Lanka. Whether your goal is prevention, healing, or a deeper connection to inner harmony, Ayugiri offers a sanctuary for holistic well-being” stated Eksath Wijeratne.
Ayugiri encapsulates the essence of life, inspired by the lotus flower held by the graceful queens of the infamous Sigiriya frescoes. Just as the lotus emerges from the murky depths, untainted and serene,
Ayugiri invites guests on a journey of purity and rejuvenation, harmonised with a balance of mind, body and spirit, the essence of nature, echoes of culture and the wisdom of ancient Ayurvedic healing.
HNB General Insurance, one of Sri Lanka’s leading general insurance providers, has been honored as the Best General Bancassurance Provider in Sri Lanka 2024 by the prestigious Global Banking and Finance Review – UK.
The esteemed accolade underscores HNB General Insurance’s unwavering commitment to excellence and its outstanding performance in the field of bancassurance. Through dedication and hard work, the HNB General Insurance team has continuously endeavored to deliver innovative insurance solutions, cultivate strong relationships with banking partners, and provide unparalleled service to customers nationwide. This recognition is a testament to the team’s dedication and relentless pursuit of excellence in the bancassurance business.
“We are honored to receive this prestigious award, which reflects our team’s tireless efforts and dedication to delivering value-added insurance solutions and exceptional service through our bancassurance partnerships,” said Sithumina Jayasundara, CEO of HNB General Insurance. “This recognition reaffirms our position as a trusted insurance provider in Sri Lanka and motivates us to continue striving for excellence in serving our customers and communities.”
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