News
WB: South Asia must explore untapped opportunities
In South Asia, only 20 out of every hundred women actively participate in the labor market, while the labor force participation for men is 80 percent, far below the participation rates in other regions, says a World Bank Report.
The report titled ‘Unlocking growth across South Asia’ said: In the decade before the COVID-19 pandemic hit, South Asia struck a strong growth note of 5 percent per year in per-capita GDP, strongly outpacing other developing regions in the world, notably Latin America and the Caribbean; the Middle East and North Africa; and Sub-Saharan Africa—all of which grew less than 1 percentage point per year. Only East-Asian economies outperformed South Asia at a growth rate of 6.5 percent.
Undoubtedly, South Asia as a region, possesses a powerful growth engine.
Yet, what is striking is that this engine has not been firing on all cylinders, implying that large numbers of people and significant parts of the economy are not participating in the strong growth. In South Asia, only 20 out of every hundred women actively participate in the labor market, while the labor force participation for men is 80 percent, far below the participation rates in other regions.
Between 80-90 percent of the workforce is stuck in unproductive informal sectors that have notoriously limited access to credit and sales markets. The region’s exports of goods—traditionally a source of productivity growth—are only one third of the size of exports when compared to other countries around the world.
From the findings above, it appears that most of South Asia’s economic activity is concentrated in small pockets of societies, namely the formal workforce and male workers mostly employed by formal firms that have access to credit and are largely selling to domestic markets. These segments can grow fast, but this is not the full throttle mode that is required to launch economies to their fullest potential. Therefore, it’s not a surprise that currently, per-capita income in South Asia is only one fifth of the per-capita income in East Asia, a region with a much larger female labor force participation, smaller informal sectors, and an export-led growth strategy.
For South Asia to reach its full economic potential, it must explore untapped opportunities.
The latest South Asia Economic Focus zeroes in on a possible answer to this conundrum. Using new data from 140 countries, the chapter on gender norms shows that in South Asia, perceptions about the role of women in society have not kept up with new economic opportunities as they have done in many regions of the world. The analysis shows that these gender norms determine to a large extent, the participation of women in the labor force.
The paradox here is that in most countries, education of girls tends to increase female labor force participation as education increases potential wages, which makes it more attractive to participate in paid work. However, in South Asia, whereas education of girls has improved significantly during these past decades, the participation of women in the workforce has not kept up to speed. If norms mandate that married women stay at home, then women are likely to withdraw from the labor market after marriage, irrespective of their education level. The latest South Asia Economic Focus also shows that conservative norms in South Asia are associated with other forms of gender inequality as reflected in freedom of movement, asset ownership, access to finance, preference for the male child, and domestic violence.
Latest News
Cabinet Subcommittee on the Development of 25 Technical and Vocational Colleges meets under the Chairmanship of the Prime Minister
The third meeting of the Cabinet Subcommittee appointed to oversee the development of 25 Technical and Vocational Colleges under the Department of Technical Education and Training was held today (09) at the Parliament Complex under the chairmanship of Prime Minister Dr. Harini Amarasuriya.
The meeting focused on the proposed development programme for the 25 Technical and Vocational Colleges as a key step towards expanding access to vocational education, implementing plans to strengthen infrastructure, and creating new pathways for technical and vocational education in Sri Lanka. Members held detailed discussions on the measures required to advance these objectives.
The meeting was attended by the Minister of Ports, Civil Aviation and Energy, Anura Karunathilaka,the Minister of Labour and Deputy Minister of Economic Planning, Dr. Anil Jayantha, the Minister of Rural Development, Social Security and Community Empowerment, Dr. Upali Pannilage, as well as senior officials from the Ministries of Education, Higher Education, and Vocational Education.
[Prime Minister’s Media Division]
News
Representatives of the Organization of Professional Associations (OPA) of Sri Lanka meet the Prime Minister
Representatives of the Organization of Professional Associations (OPA) of Sri Lanka met with Prime Minister Dr. Harini Amarasuriya on Wednesday (08) at the Parliament premises.
During the discussion, the OPA representatives stated that the organization intends to establish a mechanism to provide direct professional advice to members of the public facing issues across various sectors. They also noted that OPA plans to implement special programmes to offer pre-advice and guidance through its member professional associations to people encountering issues in fields such as agriculture, construction, medicine, and law.
The Prime Minister commended the contribution made by professionals towards enhancing professional standards in the country and advancing national development. The Prime Minister further stated that the Government is ready to support efforts aimed at strengthening professionalism and fostering the sense of national service in the country.
The meeting was attended by the President of OPA, Vice President, and other office bearers of the Organization of Professional Associations of Sri Lanka.
[Prime Minister’s Media Division]
Latest News
District Secretaries’ Conference Chaired by the President
President Anura Kumara Dissanayake stated that the Government plans to allocate a separate contingency fund for every district under the forthcoming Budget, enabling District Secretaries to carry out urgent repairs to bridges, roads and public buildings identified at District Coordination Committee meetings without having to wait for approval from the Central Government.
The President also emphasised that the Government’s foremost priority is to address the basic needs of the people without delay.
President Anura Kumara Dissanayake made these remarks while attending the District Secretaries’ Conference held this morning (09) at the Colombo District Secretariat.
The conference was convened with the objective of strengthening coordination among relevant stakeholders to ensure the more efficient and effective delivery of public services, while promoting district-level economic development by discussing local issues and identifying appropriate solutions.
The discussions also focused on reviewing the progress of district development projects, enhancing coordination between ministries and government institutions, identifying issues at the district level, proposing practical solutions, and assigning responsibilities and follow-up actions.
It was further emphasised that, in the interest of public safety, Divisional Secretaries should prevent people from resettling in areas identified as high-risk and refrain from approving basic utility services, including electricity and water, for such locations.
The President also reviewed the progress of efforts to establish a special authority with statutory powers to manage environmentally sensitive land in the Central Hills. It was noted that the relevant draft legislation has already been prepared and that the new authority is expected to commence operations next year.
The President further stressed that resolving the housing issues faced by war-displaced communities remains a Government priority, adding that plans are in place to resettle 13,000 war-displaced families during the coming year.
He also highlighted the need to systematically implement a programme to relocate people living in areas that are repeatedly affected by floods and landslides to safe and secure housing.
The President also drew attention to housing projects that had been initiated in an unplanned manner for various reasons, including political considerations, and subsequently abandoned midway. He stated that the Government intends to conduct a rapid survey to identify only those projects that are genuinely required by the public and implement a housing assistance programme to provide financial support for the completion of those houses.
The President further emphasised the importance of carrying out housing and other construction projects in accordance with a proper planning framework. He pointed out that numerous issues had arisen as a result of unplanned construction in the Southern Province and stressed that development in the Northern and Eastern Provinces should be undertaken in line with a systematic development plan.
He also noted that, while taking public needs into consideration, the Government is focusing on releasing privately owned land currently under the control of military camps. At the same time, attention is being given to making other large tracts of land available for investment. The President further stressed that, when allocating land for cultivation, measures must be taken to safeguard forest reserves and wildlife protection zones.
Reiterating the need for comprehensive public sector reforms to deliver a high-quality public service, the President stated that plans are in place to abolish non-productive institutions in order to improve the efficiency of the public service.
He further noted that steps have already been taken to fill vacancies in essential sectors, including health and education. The President also pointed out that measures are being taken to urgently fill vacancies in the Department of the Government Analyst in order to address delays in the issuance of Government Analyst reports, which have contributed to prison overcrowding.
Minister of Public Administration, Provincial Councils and Local Government Professor Chandana Abeyratne, Deputy Minister of Provincial Councils and Local Government Ruwan Senarath, Secretary to the President Dr Nandika Sanath Kumanayake, Chief of Presidential Staff Prabath Chandrakeerthi, Secretary to the Ministry of Public Administration, Provincial Councils and Local Government Aloka Bandara, Ministry Secretaries, all District Secretaries, Heads of Departments and other senior government officials were also present.
[PMD]
-
News5 days agoSingapore-based Buddhist monk marks nearly four decades of humanitarian service
-
News7 days agoCIABOC to question Harak Kata on Rs. 200 mn bribery allegation
-
News6 days agoFreedom 250: US Embassy celebrates America’s 250th Independence Day through magic of American cinema
-
Business7 days ago‘Dialog Air Fibre powers a new era of Ultra Fast Home WiFi’
-
News7 days agoSLAF conducts successful rescue mission under UN command in Central African Republic
-
News4 days agoAI concerned over proposed SL military deployment in Haiti
-
News7 days agoUNEP support pledged to strengthen Sri Lanka’s Environmental Priorities
-
Midweek Review2 days agoUnexpected focus on ‘pieces of tin’ worn by military men
