The primary issue that arose at the plenary on ‘Promoting Innovation and Disruption in the Fourth Industrial Revolution (4IR)’, at the 12th South Asia Economic Summit (SAES XII), organised by the IPS, was the role of disruption in the status quo. The panel deliberated on whether governments and corporations should embrace and utilise disruption despite its drawbacks, or regulate extensively to curb it.
Allowing Youth to Tuk-Tuk or not Tuk-Tuk: Should Access to Three Wheeler Market in Sri Lanka be Regulated?
The large number of youth being employed as three wheeler drivers in Sri Lanka has concerned policymakers, especially given the widespread labour shortages in the country. The government has tried to intervene in the tuk-tuk market by attempting to impose an age restriction on three-wheeler operators. But is this a smart move? This blog attempts to clarify some myths about the three wheeler market, while weighing in on the debate on whether the government should impose an age restriction on three-wheel drivers.
With the recent signing of the Sri Lanka – Singapore Free Trade Agreement (SLSFTA), as well as the Economic and Technological Cooperation Agreement (ETCA) with India that is being negotiated, there has been wide public debate on the issue of allowing free movement of people across borders. Bilesha Weeraratne argues that the ability to retain skilled foreign workers, and continue to attract high-skilled migrant workers is contingent upon the development of policies that will cater to the needs of inbound migrant workers while leveraging the potential they hold to foster economic growth and development in the country.
Tourism is the third largest revenue earner for Sri Lanka, accounting for US$ 3.5 billion in 2016. With the rise of informal accommodation, there have been both challenges and opportunities in the industry. This blog argues that registering and regulating the informal sector is necessary to create a level playing field in the industry, to maintain standards, and to encourage small service providers.
Although microinsurance is considered a tool for addressing gaps in insurance coverage and a means of improving social safety nets in the country, the absence of a clear focus on microinsurance within insurance legislation continues to be an impediment. In this context, this article examines whether regulating microinsurance is a necessity or whether it could discourage the industry’s progress.