Informal economy has 62% of country's work force - DEW
Chaminda Perera
Sri Lanka has been left with no other alternative than depend on our
own human resources for sustained economic development, as we have very
limited natural resources to exploit, said Senior Minister of Human
Resources DEW Gunasekera.
Speaking at the launch of the National Human Resources Policy for Sri
Lanka at Temple Trees yesterday, Minister Gunasekera said that 62 per
cent of the country's work force is in the informal economy.
"This is the segment of society which is subject to quality
limitations and with less purchasing power with no bargaining power and
most vulnerable to market fluctuations", he said.
The Minister said that those who fail to secure G.C.E Ordinary level
and the Advanced level join the labour market with no skills. "At the
University Entrance level, only about 11 per cent enter the Higher
education institutions. The rest enter the labour market with no
opportunities for higher education due to financial constraints. He said
the National Human Resources Policy Framework has also stressed the
importance of enhancing the public service. The Minister said the
country's private sector suffers from the dearth of skilled personnel in
certain fields and the university system should be more reformed to meet
the requirement of global economy. He said the country is blessed with a
high standard of social development. He was of the view that the
country's social development can not be sustained unless it keeps pace
with economic development of the country.
He said that the country has to be competitive in an accelerated
global economy with the advancement of science and technology.
Minister Gunasekera said the human resources should be developed in a
global competitive environment if the country wants to achieve economic
development. He said the country's work force nearing 8 million is low
productive and low competitive. "There is a growing need to improve
employment opportunities for the youth and women in less developed
regions and vulnerable groups.
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