ECONOMYNEXT — The Sri Lanka Transport Board (SLTB) plans to unroll a card or QR code enabled payment system for state-run buses to mitigate some 10 million rupees in losses per day, an official said.
Transport Minister Bandula Gunaardena told parliament on Thursday January 11 that some bus drivers or conductors do not return the day’s total earnings to their respective depot, resulting in a loss of around 100,000 rupees a day per depot.
“That’s about 10 million rupees in total losses a day,” said Gunawardena.
“You know the problems that crop up when you try to do something new with the SLTB,” he said, noting that the Transport Ministry has been making “great efforts” to introduce an electronic card or QR code system for commuters to pay for their tickets.
The project is now in its final phase, the minister said. President Ranil Wickremesinghe has appointed a ministry secretary who has expertise in the subject, he added.
“So in about two months, we will be able to introduce a card or QR system,” he said.
The government announced a digitalisation initiative for the SLTB in November 2023, to be implemented in 2024.
He said at the time that, annually, losses incurred due to drivers’ not depositing their daily earnings amounted to some 3,650 million rupees.
Digitalisation of Sri Lanka’s state-sector has been high on the agenda since the island nation went into its 17th programme with the International Monetary Fund (IMF) since the 2022 currency crisis, the worst in decades.
A top official said in September 2023 that all financial transactions by state institutions will be made digitally by March 31, 2024, under a new policy. Critics say, however, that many state-owned enterprises and institutions have been slow to adapt.
This is in marked contrast to the private sector. Sri Lankan businesses saw a rapid shift to digital in the years since COVID-19, with many turning to the internet to boost sales and grow their market share. (Colombo/Jan11/2024)