Minister of Public Administration commends CMA for award of 100 founder scholarships worth Rs. 8 m

Minister of Public Administration and Management Ranjith Madduma Bandara awarding the scholarship certificate to a scholarship holder while CMA President Prof. Lakshman R. Watawala, public speaker and trainer Dhammika Kalapuge, CMA council member Dr.Senaka Kelum, CMA council member Hennayake Bandara and Adrian Perera look on

M i n ister o f Publ i c A d m i n i s t r a t i o n a n d M a n a g e m e n t R a n j i t h Maddumabandara was the Chief Guest at the CMA 100 Founder Scholarship Awards held at the Auditorium Sri Lanka Foundation Institute on 5 September. The keynote address was delivered by Dhammika Kalapuge the well-known Public Speaker and Trainer. CMA decided to award 100 scholarships to deserving students covering all segments of Sri Lankan society in commemoration of its Founder’s Day which fell on 3 June. CMA President Pro f . Lakshman R. Watawala making the welcome address stated that CMA at the start received the technical assistance from CMA Canada a world recognised Management Accounting Body and today is a body incorporated by an Act of Parliament No. 23 of 2009 with international membership of the International Federation of Accountants the global body for accountants, South Asian Federation of Accountants and Confederation of Asian and pacific Accountants giving them the international recognition. Today CMA is awarding 100 Founder Scholarships to the students covering seven categories as mentioned below: Graduates,

Undergraduates and the students of Sri Lanka Institute of Advanced Technological Education (SLIATE). Good performance at the Advanced Level Examination. Private and public sector employees Accountants who are partly qualified from any other professional accountancy bodies. In appreciation of the service rendered for the country, to members of the Army, Navy, Air force and the Police force. Students from disadvantaged backgrounds Students from families that are receiving Samurdhi benefits. He stated that the worth of these scholarships will be Rs. 80,000 each and in total will be Rs. 8 million spread over a period of three years and all students receiving the scholarships will greatly benefit as they will be able to become a Professional Management Accountant on the completion of their studies and practical training. The scholarship package will include the following for which no charge will be made: a) The initial registration fee b)

The annual subscription for three years. c) The examination fee for the first attempt at each level d) Study text Books for all stages or e- learning facilities. e) Will assist to find a place for practical training Scholarships were also granted to armed service personnel who were injured in the fight against terrorists and will enable them to embark on a professional career giving them a new beginning. Dhammiaka Kalapuge corporate trainer addressed the gathering and delivered a great inspirational speech to scholarship holders as well as their parents. It gave inspiration to scholarship holders to work with determination to become a Professional Management Accountant as well as to become a good citizen. M i n i s t e r R a n j i t h Maddumabandara addressing the gathering expressed that only 20% of students who have passed GCE A/L examination get the chance to enter the universities since the intake is limited to approximately 28,000.

Therefore professional institutes such as CMA should support the Government to provide higher education to our youth. He stated that in the year 2014 funds allocated to education was 1.8% of GDP but in the year 2016 we were able to allocate 6% of GDP for education. “We think that the education is the foundation of the development of our economy. So we have to improve educational facilities throughout the country. We believe that development cannot be achieved without production based economy.” He further pointed out that the expanded public sector consisting of 1.3 million including pensioners in Sri Lanka when compared with other countries in the world where it is very much less. Further almost 40% of GDP goes to the payment of salaries of Public servants and the pensions.

Therefore institutions such as CMA have a major role to play and engage in professional education and skill development and improve the productivity and efficiency of our manpower and make Sri Lanka a Knowledge Hub. He invited Pro f e s s o r Watawala who is known to him for a long period of time to bring CMA and to give scholarships and start professional management accounting courses in Moneragala and assist the people in the more difficult areas like what he did as the head of BOI to set up garment factories throughout the country during the period of President Premadasa.

He also advised all scholarship students to make use of this opportunity which will enable them after qualifying to get good jobs locally as well as overseas. Umanda Karunathilake scholarship holder took the opportunity to address the meeting and expressed that she being a graduate has selected to follow CMA courses because it is a Professional Management Accounting qualification which will give more meaning to her degree give her more recognition. She further mentioned that the academic qualification with professional qualification will be very much helpful to obtain a good job and good salary. She further stated that CMA was incorporated by an Act of Parliament and the recognition from Global Accounting Bodies gave CMA both the local and international recognition which she was looking for.

Vote of Thanks was done by CMA council member Hennayake Bandara. He stated it was a memorable day for CMA as the National Professional Management Accounting body in Sri Lanka as well as for the students who are privileged to receive scholarships which will help them in their future career progression. He also thanked the Minister and was confident that CMA could also extend the scholarships to Moneragala District and assist students in these difficult areas.