Sri Lanka launches program to digitize all Government payments
The Ministry of Digital Economy in Sri Lanka has launched a special program to promote digital payments across the country.
Deputy Minister Eranga Weeraratne revealed that handling transactions using physical cash costs Sri Lanka approximately 1% to 1.5% of its annual Gross Domestic Product (GDP).
He further explained that cash-based payments contribute to increased fraud and corruption, as well as inefficiencies in transaction processes.
To address these challenges, the government of Sri Lanka plans to digitize all payments made to state institutions.
The initiative will be facilitated through the GOVPAY application, which currently connects 16 state institutions.
By January 2025, additional state institutions are expected to be integrated into the platform, enabling the complete digitization of government payments.
Deputy Minister Weeraratne emphasized that this move will enhance operational efficiency, reduce manual labor and curb irregularities and corruption.
Furthermore, the promotion of digital payments will provide the public with more convenient and reliable services.
Latest Headlines in Sri Lanka
- CID launches probe into Rs. 2.7 Billion loss from Lanka Phosphate export deal April 30, 2025
- 33 candidates, 349 supporters arrested ahead of Sri Lanka’s LG polls April 30, 2025
- Police team appointed to assist probe on IGP Deshabandu Tennakoon April 29, 2025
- Maithripala pays Rs. 1 Million compensation over Royal Park murder pardon April 29, 2025
- Head-on bus collision in Beliatta injures 30 April 29, 2025
