Extracts from CBSL Annual Report 2011 – Education

The university education system is undergoing reforms to meet the changing domestic and global labour market requirements. For Sri Lanka to emerge as a knowledge hub, which is capable of creating higher education opportunities for both local and foreign students, the public university system of Sri Lanka has to be elevated to world class status.

For this transformation, the Government allocated Rs. 3,000 million as per the Budget 2011 to transform the Peradeniya, Moratuwa, Colombo, Sri Jayawardenapura, Kelaniya and Ruhuna universities into world class institutions. However, considering the budgetary constraints, it is essential to take a holistic perspective on the development of the higher education system where private sector investment in higher education also has a vital role to play.

While characteristics of world class universities such as teaching in English have been adapted by local universities, these institutions still require increased autonomy, high quality of research and funding.

In 2011, the university Grants Commission (UGC) continued its programmes to improve the existing university system and to cater to them needs of a dynamic labour market. UGC granted approval for five new undergraduate courses and 23 new postgraduate courses. The UGC had also approved local research grants for PhD Research degrees for academic staff to invigorate a research culture among academia. Internal quality assurance units are also to be established in universities to create and inculcate a ‘quality oriented’ culture.

To improve the quality and standards of all public and private higher education institutes and their programmes in Sri Lanka, the UGC is embarking on an accreditation programme to be implemented from mid-2012. Technical and vocational education training continued to expand during the year.

The development of competencies of middle level technical officers is the key objective of the Technical and Vocational Education and Training (TVET) programme of the Government. There were 725 institutions operated by the public, private and NGO sectors providing technical and vocational education in the country by end 2011. Under the National Vocational Qualification (NVQ) system, 16,572 NVQ certificates were issued to students by the Tertiary and Vocational Education Commission (TVEC) during the year.

The TVEC has started to provide information on the labour market through its Labour Market Information Bulletin and Labour Market Information Website to enable the effective design of TVET programmes to cater to the emerging labour market needs of the economy.

(Central Bank of Sri Lanka Annual Report – 2011 P 76.)