June 15, 2012 (LBO) – Sri Lanka’s state-run University of Colombo is part-financing a 395 million rupee building with cash generated by lecturers who conduct post graduate programs, as well as bank financing, officials said. “There is big demand for post graduate studies from the private sector,” professor Hirimburegama said.
“I don’t think we should entirely depend on the state for financial help when we have the potential to generate funds.”
Sri Lanka has a state-run higher education system of fifteen universities, six post graduate and nine other institutions offering degrees. Affiliated private colleges offer foreign qualifications, since degree awarding is still a state monopoly.
Only 17 percent of students who qualify for university education gain admission to state universities due to limited facilities.
Total investment on higher education shows an increase from 7.7 billion rupees in 2005 to 18.8 billion rupees in 2011.
In 2010 investment on the higher education was only 1.21 percent of total government expenditure.
The finance ministry said an estimated 14 billion rupees was spent in 2011 to build lecture halls, libraries, hostels and research centres in its drive to place ‘Sri Lank