Overseas employment is the largest
Sri Lankan expatriate workers form the largest source of income in terms of foreign exchange brought to our country. It is the bounden duty of His Excellency the President as well as the Government to ensure maximum welfare of the families of our expatriate workers. In appreciation, it is proposed to create a Pension Scheme for expatriate workers, as well as to increase rates of interest on Non Resident Foreign Currency Accounts.
In addition, our Ministry plans to create new markets for skilled labour, and maximize earnings in the form of foreign exchange.
Overseas employment is the largest source of foreign exchange in the Sri Lankan economy. Since 1970's when formal employment migration commenced, foreign employment has generated substantial inflows of remittance at the same time relieving pressure on unemployment of youth by providing employment abroad. An estimated 1.7 million Sri Lankans are employed abroad impacting nearly 25% of our population. A total of 300,413 (63.22% of males &36.78% females) left for employment in 2014. During 2014, total remittances received amounted to US $. 7.018 Billion (LKR 916.367 Billion)