Quite recently, we addressed the question: What Jobs Are Better Than Government Jobs In Sri Lanka? The public sector in Sri Lanka has proven to be the backbone of an economy that is struggling to get back on its feet. The current budget therefore takes into consideration the importance of keeping the public servants satisfied.
We acknowledge that economic prosperity is a topic that is best cemented according to the health of the private sector. While the Leisure and Hospitality Sector is facing an uphill battle trying to get back to its glory days, the IT sector is set to generate a much-needed USD 1.8 billion by 2022.
Budget 2022: Trust In The Public
The vitality of any economy are its citizens, and the mechanisms that cater to their well-being. There are AIA pension plans like in the private sector, but none more comprehensive and assured than the pension plans aligned with public service.
The assurance of the state is one that is based on trust and confidence. Sri Lanka’s Budget 2021 was received with cautious optimism. A career is a long-lasting commitment and in the public sphere, being employed in the public sector is a rare accomplishment. The Budget 2021 therefore safeguarded the rights of ageing pensioners and extended the age of retirement of public servants to 65 years of age.
Additionally the Agrahara Medical Insurance Scheme by the Government for public sector employees and pensioners offer a multitude of benefits that are covered under two tiers, namely: Silver and Gold.
While the retirement scheme for public servants is funded by Sri Lanka’s foreign earnings that come primarily from tourism, textiles, tea, rubber based and agriculture products, service sectors such as Information technology, financial services and transport have also increased their contributions substantially.
While such industries are facing a great many challenges in 2021, the outlook is set to improve. What the Covid-19 Pandemic in Sri Lanka proved is that the economic burden placed on the public can be absorbed by the government thanks to a strong fiscal policy, and as a result of instances of fraud by private sector institutions.
Alternative Career Paths
Is the status quo facing a challenge? It is. While government jobs form the backbone of any developing nation, the private sector can be crowned as the heart. During the Covid-19 Pandemic, Sri Lanka faced insurmountable challenges with the Hospitality and Leisure sector facing losses and hotels cutting salaries of staff. The latter sector is one that sustains over 400,000 Sri Lankans.
The country is aiming at a period of recovery, and is looking at repositioning the island nation whilst also looking at potential travel corridors. Yet, change is in the air, with the Government of Sri Lanka focusing on the global transition to all things digital with its own currency.
The Digital Economy in Sri Lanka, estimated to be US$ 3.47 billion or 4.37 percent of GDP, is gradually emerging. Thanks to Sri Lanka’s close ties to China, the transition towards an economy that is truly digital is a reality.
Moreover, this trend towards a prosperous IT sector hints at a great many vacancies that are apparent for domains that are in the fields of Artificial Intelligence, Machine Learning and Natural Language Processing.
That said, the expansion of various industries and sectors are highlighting the requirement for government jobs. In short, more public servants will be needed to assist with the functioning of new public sectors that are yet to be.
Find Your Dream Job
DreamJobs.lk by Elegant Media is Sri Lanka’s leading destination to find the most suitable and matching jobs and vacancies, recently announced its acquisition of two popular job hunting websites, as part of its aggressive expansion to better cater to the growing and fast-evolving technology-driven job market; at the same time, strengthening its status as Sri Lanka’s largest online job-hunting portal and recruitment platform.
DreamJobs.lk has a database of over 300,000 registered job seekers, each with a specific skill set and in addition, partners with over 2,500 employers in order to showcase the best jobs for the best talent; making it the natural choice for job seekers of all backgrounds.