In another move to solve the prevailing forex crisis in Sri Lanka, renowned businessman Dhammika Perera has tendered a proposal to the government to declare the National School of Business Management (NSBM), the Kothalawala Defence University (KDU), the Sri Lanka Institute of Information Technology (SLIIT), the Northshore University and the Horizon University as ‘universities.’
The number of students who have applied to study at foreign universities amid the crisis situation in the country has increased to about 30,000 and the number of Sri Lankan students who are already spending their first and second years in foreign universities are about 50,000.
Estimatedly, Sri Lanka spends about US$ 2 – 2.5 billion a year on these 80,000 some students. Another huge portion of dollars is being paid to foreign countries to pursue courses at foreign universities and the aforementioned private institutions of higher education in Sri Lanka.
Given attention to the above circumstance, Mr. Perera has proposed that the name ‘university’ be officially bestowed upon these institutions in order to retain this huge portion of dollars in Sri Lanka, whilst giving Sri Lankan students the opportunity to pursue foreign university courses in the country as well as bringing in foreign students and earning a dollar-based income through it.
It is hoped that these five private institutions of higher education may receive the approval of the University Grants Commission (UGC) as well as the opportunity to initiate new private universities with that approval, making the ultimate goal of converting Sri Lanka into a hub of higher education a reality.
MIAP
