Sri Lanka state universities are set to undergo a major revamp with financial grant of the government to promote excellence under an initiative to upgrade its higher education system.
The Government has spent Rs. 21,070 million in the first four months of 2019 for the development of higher education, of which recurrent and capital expenditure were Rs. 15,113 million and Rs. 5,957 million, respectively.
Rs. 665 million was incurred for the construction of new building complexes for the establishment of technological faculties in ten (10) universities as at the end of April 2019.
During the first four months of 2019, 1,097 university students have obtained loans to purchase laptops and also Rs. 19 million has paid to the People’s Bank and Bank of Ceylon to bear the interest cost of the loans provided since 2016.
The total expenditure for the skills development and vocational training was Rs 3,138 million of which Rs. 1,813 million for recurrent expenditure and Rs. 1,325 million for capital projects for the first four months of 2019.
(LI)