2018 Budget to amend statutes governing State Universities
View(s):The Govt, in its 2018 Budget, proposes to amend statutes governing University Grants Commission (UGC) approved Universities, removing restrictions on licensing and owning Shares in companies.
This will enable UGC approved Universities to own patents and prevent companies from exploiting or licensing such patents. As a first step, the University of Sri Jayawardenepura will receive Rs 100 million to seek accreditation of the Association to Advance Collegiate Schools of Business (AACSB), allowing local Universities to compete in the global market.
State universities will also be facilitated to offer internal offsite Degree programmes in properly regulated and accredited private institutions. An allocation of Rs 25 million will ensure that an independent Quality Assurance and Accreditation mechanism is in place to maintain standards and quality of the provision of Higher Education from these universities. – CC