ICTA TO BE LIQUIDATED IN THE FOURTH QUARTER

Sri Lanka's Information and Communication Technology Agency (ICTA) is set to begin its liquidation process in the fourth quarter, according to Digital Economy Minister Eranga Weeraratne. This move follows the establishment of a new entity, GovTech, which will replace ICTA.

The minister stated that GovTech is in its final registration phase. Once registered, it will recruit staff, and then the liquidation of ICTA will commence. Some skilled individuals from ICTA will be absorbed into GovTech.

GovTech is a state-owned company created to spearhead Sri Lanka's digital transformation. Its purpose is to implement digital projects, streamline administrative processes, and build the digital infrastructure needed to achieve the country's goal of a digital economy. Sri Lanka's digital economy is projected to contribute $15 billion to the GDP by 2030.

The new structure will separate policy-making from implementation. The proposed Digital Economy Authority will be responsible for formulating policy, while GovTech will oversee the implementation of digital economy projects. The previous administration had also planned to replace ICTA with a different entity, the Digital Transformation Agency, but the current government has chosen a different legislative framework for its digital initiatives.