Sri Lanka to set up financial training academy

Aug 06, 2010 (LBO) – Sri Lanka’s government is to set up an academy to train public servants and strengthen the country’s fiscal and revenue administration, government spokesman media minister Keheliya Rambukkwelle said. The Academy of Financial Studies (AFS) will be set up as the training arm of the Ministry of Finance and Planning.

It will absorb services presently provided by Institute of Government Accounts of Finance and Institute of Public Finance and Development Authority.

“The academy is being set up taking into consideration the inadequacy of training facilities in public finance, accountancy and taxation which are acutely felt needs,” Rambukkwelle told a news conference.

“A massive development drive is being planned and accounting is an area that has to be geared to meet these requirements, sophistication has to be brought in.”

The island is recovering from a 30-year ethnic war which ended in May 2009 and economic growth is picking and forecast to hit seven percent this year.

Rambukkwella said the civil administration has to be revamped and strengthened to meet the needs of the future.

“In the next four years we hope to have an accelerated development programme. The 30-year-old