Is Sri Lanka poor country?
Although a small island, Sri Lanka is the richest country than other developed countries because Sri Lanka is endowed with a valuable naturally inherited (fish, water, minerals, arable lands, limestone, and gems.) and human resources.
But still we state that Sri Lanka is the developing country. If we analyze about what are the reasons for this situation we can identified, “non- effective utilization of available resources” in Sri Lanka as the main reason for the less development of the country because the growth of a country depends on effective conversion of its natural capital into the economic capital.
What is the effective utilization of resources?
Effective utilization means that using the available limited resources in a sustainable manner while producing the intended result and minimizing the waste and environment impacts.
What are the strategies?
- Understand about what are the available resources in the Sri Lanka, especially in the rural area.
- Understand about what are the benefits and of those resources and understand which resources are in short supply (firstly focus on them) and which resources are in long supply.
- Prioritize resources (determine which resource will be required at what time.)
- Determine the skills and facilities required to use resources effectively.
- Allocate resources to production as per capacity, skills and interest (if human resources) at right time.
- Integrate technology where possible and suitable.
- Execution of a proper national policy for utilization of Sri Lanka’s natural resources.
- Encourage resources to acquire multiple skills or benefits.
- Increase collaboration of resources to increase productivity.