FCCISL presents five strategic Budget proposals

FCCISL President 

Keerthi Gunawardane

FCCISL Director and Public Relations Committee Chairman Ruwan De Silva

• Says recommendations will help accelerate economic recovery and prepare Sri Lanka for World Bank B-READY 2026

The Federation of Chambers of Commerce and Industry of Sri Lanka (FCCISL) has presented a comprehensive national reform package comprising five strategic Budget proposals aimed at strengthening Sri Lanka’s economic recovery, modernising public service delivery, and preparing the country for inclusion in the World Bank’s Business Ready (B-READY) Index 2026. These proposals stem from the extensive findings of the PwC–FCCISL Business Resurgence Study (2020) and align closely with the National People’s Power (NPP) Government’s economic and social policy direction. Designed within the framework of the 2026 line-ministry Budget allocations, the proposals are ready for immediate implementation.

FCCISL President Keerthi Gunawardane said, “Sri Lanka is at a turning point. These proposals give the country a practical path to rebuild confidence, modernise institutions, and strengthen the private sector as a driver of growth. With coherent implementation, we can transform the business environment, accelerate investment, and position Sri Lanka as a globally credible, competitive economy.” 

1. Transforming public services and reducing bureaucratic barriers

Sri Lanka’s economic progress has long been constrained by administrative delays, fragmented approval systems, and inconsistent regulatory practices. The Public Service Transformation Fund aims to address these barriers through a decisive national shift toward streamlined, automated, and performance-driven public service delivery. Drawing upon PwC–FCCISL research, this reform initiative promotes complete process re-engineering, digital integration across ministries, and uniform service standards extending from national agencies to District and Divisional Secretariats. The framework strengthens transparency, reduces business costs, and enhances reliability, aligning with global expectations under the B-READY Public Services and Regulatory Quality indicators.

2. Strengthened SME and business resurgence mechanism

FCCISL’s SME and Business Resurgence Mechanism introduce an integrated support system that connects businesses with coordinated public and private services across districts. The mechanism enables enterprises to access fast-tracked approvals, digital service pathways, and channels for dispute resolution—reducing the operational uncertainty and bureaucratic burden highlighted in the PwC–FCCISL study.

FCCISL Director and Public Relations Committee Chairman Ruwan De Silva stated, “The true economic engine of Sri Lanka lies in its small and medium enterprises. This mechanism is designed to give every SME, across every district, the ability to navigate challenges confidently, overcome delays, resolve disputes quickly, and secure the support they need to recover and grow. It is a national-level framework built to restore momentum to the real economy.” 

By integrating District Chambers, Secretariats, Provincial Councils, ministries, and regulatory agencies, the mechanism supports business resilience, strengthens supply chains, enhances digital adoption, and contributes directly to improved performance under the B-READY pillars of Business Entry, Financial Services, Labour, and Business Continuity.

3. GovData-SL: A digitally integrated platform for reform monitoring and transparency

GovData-SL responds to the urgent need for a unified national data system capable of tracking regulatory performance, approval timelines, and economic indicators. The platform will digitalise and integrate datasets across ministries, departments, regulatory agencies, and District Chambers. This ensures transparent, evidence-based policymaking and provides verifiable indicators required for B-READY reporting. Through real-time monitoring, GovData-SL strengthens the country’s reform credibility and underpins a more transparent, predictable economic environment.

4. National Business Reform and Facilitation Council (NBRFC)

FCCISL proposes the establishment of the National Business Reform and Facilitation Council under the Finance Ministry to coordinate reforms, harmonise regulations, and accelerate administrative decisions across government. The Council will guide cross-ministerial collaboration, monitor implementation progress, resolve systemic bottlenecks, and publish an annual Sri Lanka Business Readiness Report. This framework directly addresses institutional fragmentation and ensures long-term coherence in regulatory reforms, contributing to improvements in B-READY’s Market Competition, Regulatory Framework, Dispute Resolution, and Insolvency indicators.

5.District-Level Entrepreneurship and Competitiveness Program

The District-Level Entrepreneurship and Competitiveness Program expands the proven Galle District Strategic Development Plan into a national model for district development. This initiative strengthens regional competitiveness by integrating District Chambers, District and Divisional Secretariats, Provincial Councils, and line ministries to deliver locally tailored reforms. Through digitalised administration, investment facilitation, SME support, and sectoral development initiatives, the program enhances district economies and contributes to stronger national performance under B-READY indicators such as Business Location, Trade, Taxation, and Local Regulatory Quality.

Foundation in research and alignment with national priorities

These proposals directly address the structural barriers identified in the PwC–FCCISL Business Resurgence Study, including excessive bureaucracy, fragmented approval systems, inconsistent regulatory practices, delays in service delivery, and the need for public–private process re-engineering. The reforms also align with the NPP Government’s goals of modernising state institutions, strengthening SMEs, advancing digital governance, decentralising economic opportunity, and expanding exports, tourism, services, and logistics.

Preparing Sri Lanka for B-READY 2026

FCCISL’s integrated reform package strengthens Sri Lanka’s readiness across all ten B-READY pillars. By modernising public services, supporting SMEs, digitalising data systems, strengthening district-level competitiveness, and embedding structured reform governance, Sri Lanka is positioned to qualify for and perform competitively in the B-READY 2026 assessment. These reforms enhance transparency, predictability, investor confidence, and economic stability.

FCCISL’s expanded national and international call for partnership

FCCISL calls upon the World Bank, all multilateral and bilateral development partners, including ADB, JICA, USAID, UNDP, IFC, EU, and others, to collaborate in strengthening Sri Lanka’s reform trajectory.

In addition, FCCISL urges the engagement of all national, district, and sectoral trade chambers, business associations, councils, and forums, along with professional bodies, regulatory institutes, and industry federations. FCCISL further invites cooperation from international trade chambers, foreign business councils, Sri Lankan bilateral and regional business councils abroad, and the global Sri Lankan business diaspora.

Moreover, FCCISL encourages academics, economists, researchers, scientists, and policy specialists to contribute knowledge, research, and expertise to ensure that Sri Lanka’s transformation is grounded in evidence, innovation, and global best practices.

FCCISL believes that only a unified national and international partnership can deliver the scale of reform required to reposition Sri Lanka as a competitive, resilient, and investment-ready economy.