Sri Lanka government takes measures to double country's per capita income by 2015

Sri Lanka government has appointed a High powered Officials' Committee to formulate strategic economic plans to double the per capita income of the country within next five years.

A communiqu' issued by the Government Information Department said the committee is to specifically focus on the priority needs for rapid economic development in the next five years to help double the per capita GDP by the year 2015.

According to International Monetary Fund figures for 2009 Sri Lanka's per capita income is US$ 2,085.

In this regard, the government says that goods and services produced in Sri Lanka need to compete with other countries in both the local and foreign markets.

The cabinet of ministers has discussed that the local products have to be of a better quality and/or cheaper. The outcome depends mainly on the technology that is employed in the production process, the government says.

The Cabinet has approved drafting a National Science, Technology and Innovation Strategy for the period between 2011- 2015 to derive rationalized and prioritized course of action achieve government's goals.

Minister of Science and Research Prof Tissa Vitharana has received approval from the Cabinet to appoint the high-powered Officials' Committee consisting of Secretary to the President, Secretary to the Prime Minister, Secretary to the Cabinet, Secretary to Ministry of Finance and Planning, and Secretary to Ministry of Technology and Research.

The Committee is to coordinate the activities for the implementation of project proposals submitted by line Ministries, for formulation of a coordinating structure to combine the Private Sector as well for these activities, the government communiqu' said.