The Business Today Top 10 Awards was held as a private function on August 11, 2000, at Temple Trees, Colombo, under the patronage of Her Excellency the President, Chandrika Bandaranaike Kumaratunga. Hon. Mangala Samaraweera, Minister of Posts, Telecommunications and the Media and Hon. Prof. G.L. Peiris, Minister of Justice, Constitutional Affairs, National Integration and Deputy Minister of Finance were also present at the occasion.

The Business Today Top 10 Awards were collected by Ken Balendra, Chairman, John Keells Holdings, Ranjit Fernando, Director/General Manager, National Development Bank, Lt. Gen. J E. D. Perera, Chairman, Ceylon Tobacco Company, Rienzie T. Wijetilleke, Managing Director/Chief Executive, Hatton National Bank, Sunil Mendis, Chairman/Chief Executive, Hayleys, Nihal Fonseka, General Manager/Chief Executive Officer, DFCC Bank, Shahid Ahmed, Managing Director, Caltex Lubricants Lanka, Eranjith Wijenaike, Managing Director, Central Finance, Amitha Gooneratne, Managing Director, Commercial Bank and Royle Jansz, Director, Distilleries Company of Sri Lanka.

Speaking at the occasion, President Kumaratunga said ‘I am pleased to be here today for the presentation of the annual Top 10 Awards of Business Today. It is the fore­most annual awards in the corporate sector, in recognition of the best ten corporate performers of the country. This is an event which commenced just a few years ago, to give an opportunity to the best performers in the field of enterprise in this country. I am told that the criteria used to select the best ten per­formers for the Top 10 Awards are based on scientific and objective criteria.

I’m sure this kind of incentive to the top performing companies in the country, offer incentives, encouragement and spur-on the companies to develop competitiveness and efficiency. In other words better performance in the field of enterprise. I would like to thank the Business Today magazine for initiating such an event annually, and organizing it continuously for several years. I am sure the young and dynamic Business Today staff would have the courage and the energy to continue this good practice for a long time.

We in Sri Lanka entered the field of competitive business within a free-market economy roughly two and a half decades ago. The productivity in our industries in the manufacturing field, in agriculture, in plantations and in the services, has not yet reached satisfactory standards, except in some of the top companies. I suppose the Top 10 Awards went today to some such companies. This Government has under­taken various programs, especially through the Ministry of Industrial Development dur­ing the time of late Minister C.V. Gooneratne, to promote productivity, within the private sector specially, and overall, even in the Government services.

The private sector I learn, is picking up fairly well, some companies very satisfactorily, but we have much to do in the State sector to increase productivity which is far below expected standards. One must look at the cost of the public service. the numbers serving in it, as compared with effective productivity. For this purpose we have undertaken some program to upgrade the public service, the quality of the services they perform to the public. in line with private sector criteria. The public sector reforms program which was undertaken some years ago has not in my opinion, yet properly got off, has now been reorganized under an authority.

We know that without an effectively performing public or the private sector specially in a country like ours will be hampered often and at many points. We experience this every day. I hear about this specially as Minister of Finance from many private sector persons. Efficiency in the private sector is essential, for this we need to do many things by way of training, by way of restructuring the public sector, training for the purpose of changing existing attitudes, creating new ones. We have received the support of the private sector wherever we have sought it, in order to reorganize our affairs, especially in the financial areas. I’m sure that especially the private sector leaders such as those here today, and others who may not be here today, would help us, will cooperate with us, in order to reorganize and restructure the public service more efficiently. For the benefit of the private sector itself, and wider benefit of the public, we intend to call upon you and I am sure you will give us that support when the new public sector reforms begin to function very soon.

Finally once again I would like to thank Business Today for its activities monthly through the magazine itself and such events as this to promote, incentivize and encourage, the private sector of Sri Lanka. I wish all the Top 10 companies and their Chairmen or chief-representatives who are here today, all success in their future endeavors and I hope that you will continue to be amongst the Top 10 for a long time.

The last ten days of this month, have been very trying and difficult ones. We try to achieve great things, we have fallen slightly short, but we have not lost heart and we will continue to do that. I know the business community of Sri Lanka has taken the front-line in this matter, in trying to help the Government and the opposition to co­operate together to try and find effective solutions, to this country’s most tragic problem. It affects all of us; I know it affects the economic advancement of our country most. That was one attempt which failed, but I think we have several other alternatives and we will continue to attempt undaunted, hopefully with your help and corporation and your blessings I am sure we will be able to achieve peace very early for our peoples and for our nation.