Prof Ariadurai Vice Chancellor OUSL states that annually 6000 professionals are migrating
View(s):The Chief Guest Vice Chancellor of the Open University of Sri Lanka Prof. S. A. Ariadurai addressing the New Membership Awarding Ceremony of the Institute of Certified Management Accountants of Sri Lanka held on the 9th March 2019 at the Taj Samudra, Colombo stated that
Prof Ariadurai Vice Chancellor OUSL states that annually 6000 professionals are migrating
7.5% of those who receive tertiary education have already migrated with an average annual migration level of 6000 professionals….
‘Education is the most powerful weapon which can be used to change Sri Lanka and the world. Gross enrollment Ratio in tertiary education is only 20% in Sri Lanka which is marked as lowest of all middle-income countries. The average among middle income countries is 33%. Only 5% of 20 – 24 years age are entered in to university. 8% are enrolled in other education institutes including professional institute, like CMA Sri Lanka. 3% in same age group entered in to technical education, vocational training.
Every year 250,000 of Sri Lankans leave the country looking for foreign employment. With over 3 million people leaving the country during the last 10 years. According to the World Bank statistics, Sri Lanka has one of the highest rates of brain drain among the South Asian countries with 27.5% of those who receive tertiary education have already migrated with an average annual migration level of 6000 professionals. Therefore, as a country we do not have a choice, but to further expand the supply of shortage professionals only supply push can help the existing industry expansion and potentially attract future capital investments including foreign investments into Sri Lanka. However, this expansion can put huge pressure on the higher educational institutes due to scarcity of resources especially quality teaching staff and currently we are working with very limited intellectual physical resources’.
Vice President of CMA Sri Lanka Mr. H.M. Hennayake Bandara welcomed the gathering and stated that today we are having the New Members Certificate Awarding Ceremony, launch of the NDB-CMA Credit card and the members Get-Together. The Guest of Honour Mr. Leslie Leow – Regional Manager- MESA from CPA Australia in his presentation said that a special longstanding relationship with CMA, resulted in the signing of an MRA (Mutual Recognition Agreement) enabling CMA Sri Lanka members a pathway to obtain the CPA Australia qualification while in Sri Lanka. This has opened up huge opportunities for CMA Sri Lanka members planning to come over to Australia. He was thankful to the president Prof Lakshman R Watawala who was instrumental in this and was sorry to miss him today since he is indisposed. He further stated that the modern Accountant has to be critical thinker, business analyst, looking at trends and development, good communicator and to be able to provide sound advice to the board members and to the clients.
Chief Guest Prof. Ariadurai and Guest of Honour H/E. David McKinnon, High Commissioner of Canada to Sri Lanka gave away the New Member Certificates to 17 Fellow members and 54 Associate members together with Vice President CMA Sri Lanka, Mr. Hennayake Bandra.
Vote of thanks was delivered by Council Member CMA Sri Lanka, Mr. Adrian Perera showering much gratitude to Chief Guest Prof Ariadurai for his very valuable address and presenting Certificates to new members, Guest of Honour H/E David McKinnon High Commissioner for Canada in Sri Lanka and Mr. Leslie Liew Manager CPA Australia and to President CMA Prof. Lakshman R Watawala who was indisposed, NDB for the issue of the NDB-CMA Credit card, CMA Council Members and the new members.