Sri Lanka President to channel tax money to unemployed graduates

ECONOMYNEXT – Sri Lanka’s President Maithripala Sirisena said jobs would be given to all unemployable graduates in the next six months, without specifying the number that will take into the already bloated public service.

Sri Lanka’s unemployable graduates come from tax payer funded universities and some of them get external degrees and then agitate for tax payer funded jobs and pensions for life.

The President had said this at a ceremony where appointment were given to over 200 graduates in Batticaloa, his office said.

The government will start interviews to hire graduates on a fast track basis, he had said.

The number of unemployed graduates were not specified.

The hiring of 10,000 graduates at a minimum of 25,000 rupees a month would cost 3.0 billion rupees.

Through a 5-year presidential term the total cost would be 15 billion rupees to the people, which is more than the loss to the EPF and state agencies identified by a commission of inquiry from a bondscam.

Sri Lanka’s unemployable graduates, who demand to take taxes homes as salaries from ‘make-work’ jobs is an emblematic instance showing the lack of civic mindedness of among the population and a factor contributing to making the country a lagging nation, critics say.

The plans to expand the state sector shows the danger of revenue-based-fiscal consolidation. (Colombo/Mar05/2018)





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