Sri Lanka’s private sector should set up education institutions: PM

ECONOMYNEXT – Sri Lanka’s private sector should set up educational institutions to cater to the emerging needs of the economy and the state will provide funding for students, Prime Minister Ranil Wickremesinghe said.

"We can fund the students to come. We can give them grants, we can give them very soft loans," Prime Minister Wickremesinghe told an economic forum organized by the Ceylon Chamber of Commerce.
"But in my view the institutions must not be government."

Wickremesinghe said emerging sectors in information technology were requiring new skills and institutions must respond fast to requirements.

There were also new factories to be set up in new industrial zones that were being built. But the required skills would be known only later.

In the state tertiary education institutes like the University of Moratuwa was doing a good job in turning out talent suited to the market, but in other especially in the provinces, there was a big gap.

"Even before we encourage the enterprises, we have to think how we can get the training institutes going?"

Wickremesinghe said the government with the Treasury and Central Bank can give a stable macro-economic environment but the private firms have to use it invest and generate growth.

He said macro-economic stability has now been restored.

His comments came as Sri Lanka’s rupee, underpinned by a soft dollar-peg with inconsistent policy, hit a new low on Friday in the second run on the currency so far this year.   Sri Lanka has been in fact operating a peg (Colombo/Sep14/2018)





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