The IPS was conceived in the mid-1980s as an autonomous institution designed to promote policy-oriented economic research and to strengthen the capacity for medium-term policy analysis in Sri Lanka. It was established by an Act of Parliament in December 1988 and was formally set up as a legal entity by gazette notification in April 1990. From its inception, the IPS was supported through a collaborative project between the Royal Netherlands Government and the Government of Sri Lanka under four phases of operations to allow the Institute to gradually diversify its income and resource base. In the interim, the IPS has been successful in establishing its own Endowment Fund and setting in motion the transition to full financial independence with the formal ending of the fourth phase of operations in June 2006. The IPS moved to its own head office in September 2010.

The IPS functions under the key ministries involved in economic policy making and implementation in Sri Lanka, working closely with the government, private sector, development partners, civil society and academia.

 

2015

IPS marks 25 years in operation

2014

Winner of the TTI grant: Phase II

2013

Host of the 6th South Asia Economic Summit

2012

Launch of the IPS Facebook

2012

Launch of the IPS University Forum

2011

Opening of the fully-fledged state of the art IPS Auditorium

2010

Winner of the Think Tank Initiative (TTI) grant: Phase I (four-year core funding under IDRC

2010

IPS shifts to the new Head Office at Colombo 7

2009

Appointed as the academic focal point for the Asian Cooperation Dialogue

2009

Launch of the IPS Blog Talking Economics

2008

Initiating the first South Asia Economic Summit

2007

Chairman and Executive Director invited to serve in the National Economic Council under H.E. the President

2006

Becomes self-financing with the end of Dutch Funding in June 2006

2006

IPS signs an agreement with The Netherlands Minister for Development Cooperation for the Dutch contribution for the construction of a New IPS Office Building

2005

Organized the first major international conference with more than 150 foreign participants (Poverty and Economic Policy [PEP] General Meeting)

2004

IPS appointed to the Chair for the Indian Ocean Rim Academic Group

2003

Launch of redesigned IPS public website

2002

IPS produced Sri Lanka National Health Accounts

2001

IPS public website launched

2001

IPS produced Sri Lanka National Health Accounts

2000

Launch of the South Asia Economic Journal, an international journal jointly with RIS India

1999

Donation of land by the government of Sri Lanka for construction of the IPS Head Office

1998

Appointed as the focal point of the SAARC Research Network

1997

Appointed as the focal point of the IOR-ARC academic group in Sri Lanka

1996

MOUs with foreign universities for exchange programes initiated

1995

First contribution to the Endowment Fund of C$ 1 million from the Government if Canada

1994

Appointment of new Executive Director, Dr. Saman Kelegama, in December and relocation of office premises to St. Michael’s Road, Colombo 3

1993

Initiation of the IPS Endowment Fund

1992

Initiation of the IP State of the Economy Report

1991

Appointment of a new Resident Coordinator

1990

IPS comes into formal operation under the Ministry of Finance and Planning by Gazette Notification

1989

Appointment of the Executive Director and Board of Governors Office premises shifted to the DFCC Building, Colombo 3

1988

IPS established under Act of Parliament No. 53 of 1988

1985

IPS Project located in the Ministry of Finance and Planning with a Resident Coordinator from the ISS, The Hague, with funding under Phase I of Sri Lanka-Netherlands Technical Cooperation project