In commemoration of late Dr. N. Balakrishnan, a memorial lecture on “Recent Trends in Sri Lankan Economy: Constraints and Challenges” by Prof. Wasantha Athukorala, University of Peradeniya was organized by the Department of Business Economics, Faculty of Business Studies on 29th December 2021. Around 40 participants were present at the program physically and via zoom including the Vice Chancellor/University of Vavuniya, Dean/ Faculty of Business Studies, Dean/ Faculty of Applied Science and the heads of the departments of the Faculty of Business Studies. The event began with lighting the oil lamp by the respected invitees. The Vice Chancellor garlanded the photo of late Dr. N. Balakrishnan to honour him. Then, the memorial oration was launched by the Vice Chancellor. The day of memorial lecture successfully ended with the vote of thanks.