Prabash to step down as EDB Chairman

Prabhash Subasinghe

Prominent exporter and industrialist Prabhash Subasinghe has announced his decision to step down as Chairman of the Sri Lanka Export Development Board from end of December 2020.

He said the move was on personal grounds and upon accepting the original appointment he had conveyed serving on the post in the national interest for one year. 

His resignation is the second high profile exit to be announced this week and follows business leader and John Keells Holdings former Chairman Susantha Ratnayake ending his one-year stint as the Chairman of the Board of Investment. 

Private sector sources have acknowledged that both Ratnayake and Subasinghe during their short tenure made a significant impact in terms of policy and facilitation to boost investments and exports.

Subasinghe through Global Rubber Industries (GRI) Group is a leader in solid tyre manufacturing and export apart from being a major exporter of seafood. In recent years the two businesses have seen considerable investments to expand capacity, business and marketing presence internationally. 

He is also the biggest shareholder of Ceylinco Insurance with a 22% stake.