Business
SL’s education sector, ‘key battleground for long term economic recovery’
By Ifham Nizam
As Sri Lanka faces the aftershocks of multiple crises, including the COVID-19 pandemic, economic downturn and the Easter Sunday attacks, the country’s education sector has become a key battleground for securing long-term economic recovery, according to Institute of Policy Studies (IPS) Research Fellow Dr. Bilesha Weeraratne.
In an expert panel discussion recently in Colombo, IPS stakeholders explored the critical role of education in building a skilled workforce, while also highlighting the immense challenges that must be addressed to turn education into a catalyst for growth.
Weeraratne said that with Sri Lanka suffering a negative growth rate of 6.7% by the third quarter of 2023, the labour market remains one of the hardest-hit areas.
Weeraratne added: “As wages stagnate, the incentive for workers to improve their skills or seek better employment dwindles, feeding into a cycle of low productivity. Thus crisis management has prompted emergency measures, like the five-year no-pay leave policy for public sector employees.” However, she explained that these are short-term fixes that do not address the deeper structural issues plaguing the labour market.
Weeraratne stressed that education is seen as a powerful tool to break this cycle, but the sector itself has been grappling with severe disruptions and underfunding, she said, adding that Sri Lanka’s education system is crucial in fostering productivity and innovation, but it faces serious hurdles.
Her presentation delved into the many challenges facing education. From the 2019 Easter bomb attacks to the pandemic and ongoing economic crises, these external pressures have led to a decrease in education investments, depreciating resources, and the adoption of outdated approaches that struggle to meet the demands of a rapidly changing labour market.
IPS, Director of Research, Dr. Nisha Arunatilake said that one alarming statistic revealed that while 97% of children aged 5 to 16 are enrolled in school, a significant proportion—especially those with special needs or from deprived socioeconomic backgrounds—are left behind. After the compulsory education age of 16, participation drops drastically, with only 63% qualifying for advanced level exams and just 20% attending university due to capacity issues.
She noted that Sri Lanka’s education system is ill-equipped to handle the demands of an evolving job market driven by technological change. `The need for highly skilled workers is growing, but 65% of 20 to 24-year-olds are not engaged in any form of education, leading to a poorly skilled workforce. While the government has made efforts to introduce vocational training, these programs have not scaled up sufficiently to address the needs of the economy.’
Worse still, she said, the quality of education is lagging. A 2019 study by NEREC revealed that students’ English and mathematics skills are well below international standards. Students scored an average of just 34% in English and a dismal 20% in mathematics, signaling a serious gap in the education system’s ability to prepare children for a globalized, technology-driven future.
Arunatilake added: `Compounding the issue is the unequal allocation of resources across Sri Lanka’s education system. Elite schools receive the majority of well-trained teachers, while rural schools, which often serve lower-income families, suffer from poor staffing and inadequate resources. Meanwhile, policy inconsistency—driven by frequent changes in education ministers and short-term priorities—has stymied long-term progress.’
‘Given the current economic constraints, while increasing funding is ideal, it is not feasible in the short term. Instead, innovative low-cost solutions could offer a way forward. Examples could be given from Pakistan, where technology is being leveraged to provide education to children with special needs and virtual labs are being used in rural areas to deliver hands-on learning experiences.
‘Stronger governance and better allocation of resources are needed. Sri Lanka’s education system has suffered from weak policy implementation and political interference. Improving governance, addressing resource inequalities, and strengthening disaster risk management are among the key recommendations.
‘While Sri Lanka’s education system faces formidable challenges, it remains a pivotal force in rebuilding the nation’s economy. If the government can implement effective reforms and tap into technological solutions, the country could better equip its youth with the skills needed to thrive in an increasingly digital and globalized world.’
The Central Bank of Sri Lanka today (07) presented its flagship publication, the Annual Economic Review for 2024 (AER 2024), to President and Minister of Finance, Anura Kumara Disanayake, highlighting the steady progress of Sri Lanka’s economic recovery following the country’s most severe downturn in recent history.
The report was officially handed over by Dr. P. Nandalal Weerasinghe, Governor of the Central Bank, during a special ceremony held at the Presidential Secretariat.
AER 2024 comprises four main chapters: Macroeconomic Developments, Conditions of the Financial System, Review of Central Bank’s Policies and Macroeconomic Outlook.
According to the Review, the Sri Lankan economy showed significant signs of recovery in 2024, following the deep economic crisis experienced two years ago. The recovery trajectory, though challenging, has been notably faster than that of many other debt-distressed countries.
Improvements in economic activity, a partial resurgence in purchasing power and reduced uncertainty are among the key positive indicators noted in the report.
The event was attended by Dr. Nandika Sanath Kumanayake, Secretary to the President, K. M. Mahinda Siriwardena, Secretary to the Treasury, Mrs. K. M. A. N. Daulagala, Senior Deputy Governor, Dr. C. Amarasekara, Assistant Governor, Dr. (Mrs.) S. Jegajeevan, Director of Economic Research and Dr. L. R. C. Pathberiya and Additional Director of Economic Research at the Central Bank Dr. V. D. Wickramarachchi.
[PMD]
Business
IceWarp expands into Sri Lanka, fostering European innovation in collaboration with FentonsIT
IceWarp, a global leader in business communication solutions, has officially launched its cutting-edge platform in Sri Lanka, bringing European expertise in email and collaboration solutions to support the country’s evolving business landscape.
This expansion is driven by a strategic partnership with Fentons Information Technology (FIT), the Information Technology arm of Hayleys Fentons Limited.
The grand launch event held at The Kingsbury Colombo on 4th April, 2025, was graced by several distinguished guests, including Chief Guest Mohan Pandithage, Chairman and Chief Executive of Hayleys PLC.
The presence of Adam Paclt, Global CEO of IceWarp, and Pramod Sharda, CEO for India and the Middle East of IceWarp, along with their global team, highlighted the significance of this expansion. Industry experts, government officials, corporate leaders, and CIOs from the banking, financial services and insurance sectors were in attendance as well, reflecting strong local interest in IceWarp’s European expertise.
With this launch, Sri Lankan businesses now have access to an affordable, scalable and secure alternative to Microsoft 365 and Google Workspace. IceWarp’s advanced Collaboration Suite integrates a wide range of tools into a single, unified platform designed to streamline communication and boost productivity. Offering flexible hybrid deployment options and cost-efficient solution, IceWarp enables organisations to optimise their operations without compromising security or functionality.
Eventistry Sports, a trailblazer in innovative sporting events, has unveiled the Sri Lanka Padel League (SLPL), the nation’s first franchise-based padel tournament, set to debut in June 2025. This groundbreaking league promises to redefine Sri Lanka’s sports landscape by creating a dynamic national platform for athletes while fostering unity among fans, brands, and communities.
The SLPL will showcase six franchise teams, each embodying the spirit of iconic Sri Lankan locales: the Colombo Chargers, Yala Rangers, Hikkaduwa Riders, Ella Hawks, Arugambay Vipers, and Trinco Warriors. These teams will not only ignite regional pride but also unite the country through a shared passion for padel—a fast-paced racquet sport merging tennis and squash, played on enclosed courts.
“The SLPL is more than a league; it’s a movement,” declared Karin Wijeratne, Director of Eventistry Sports. “By blending franchise sports with Sri Lanka’s vibrant culture, we’re creating a platform where players gain national recognition, fans rally behind their hometown heroes, and brands engage with communities in meaningful ways.”
The league’s launch on June 21–23, 2025, at Colombo’s Padel House courts (CR&FC) will kick off with three days of high-octane matches, preceded by a star-studded player auction on May 16th at The Vault, Colombo City Centre. Local talent—both professional and intermediate—will be drafted by franchise owners, with international registrations now open to elevate the competition’s global appeal.
Please log in to: www.slpadelleague.com and social media: @SriLankaPadelLeague (Facebook & Instagram) for more information.
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