Challenges faced by higher education sector in Sri Lanka

How to overcome them through greater private sector participation

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Importance of higher education to the economy

SRI Lanka is slowly but steadily emerging out of a debilitating economic crisis and is seeking to embark on a new path of accelerated economic development. A Knowledge intensive economy like what we experience today in the 21st century needs people with knowledge and skills required to drive key sectors of the economy and to facilitate technology transfer and technological innovation and pursue such a growth agenda. It also needs people with the ability to make decisions supported by modern tools such as data driven analytics and artificial intelligence. The quality of our human capital becomes even more critical in the context of a dwindling pool of talent caused by an ageing population and migration.

Hence, ensuring the availability of higher education opportunities to a larger number of qualified people at an affordable cost is of paramount importance. It will help to stem the brain drain and retain valuable human resources within our borders. This becomes applicable to two age groups. First, youth belonging to the 20-30 years age group will be looking for higher education opportunities upon completion of their secondary school education. Secondly, mature professionals in the 40-60 years age group will be concerned about higher education opportunities available to their children. Hence, any reforms that could expand higher education opportunities within the country will have an impact on the growth.