20 November 2022 10:39 am
Advocata Institute, based in Colombo, Sri Lanka, was announced as this year's winner of Atlas Network's prestigious Templeton Freedom Award and its US$100,000 prize at Freedom Dinner 2022 held on November 17 in New York.
The Templeton Freedom Award is sponsored by the Templeton Religion Trust.
Advocata Institute is an independent policy think tank based in Colombo, dedicated to economic development through free-markets. They conduct research, provide commentary, and hold events to promote sound policy ideas compatible with a free society in Sri Lanka.
Dhananath Fernando, CEO of Advocata Institute accepted the 2022 Templeton Freedom Award.
Advocata Institute spent years seeking to reduce the severity of Sri Lanka’s then looming economic crisis, and the organization gained a reputation as a reliable voice on economic analysis. Now that the crisis has come, food inflation nears 100%, and shortages abound, Advocata continues its efforts to advance sound market-based policy. Their work focuses on improving outcomes in the short term, such as ending price controls to ease shortages; as well as the long term, such as reforming the tax structure, privatizing Sri Lanka’s loss-incurring state-owned enterprises, and restructuring the public debt. The government’s new leadership is open to new ideas, particularly market-based ideas, and Advocata Institute is excited to continue speaking to a growing audience and working towards policy that enables better lives for all.
“Contributing towards a larger cause by working as one team to advance markets and freedom in Sri Lanka is an extremely satisfactory and fulfilling journey," said Dhananath Fernando, CEO of Advocata Institute. "To now be recognized for our work by the prestigious Templeton Freedom Award is deeply encouraging - taking one day at a time, we at Advocata will continue to serve our cause of uplifting the living standards of our fellow Sri Lankans, even during difficult times.”