Sri Lanka’s Mahapola Fund to launch new online lottery and calls for EOIs
Daily FT: The Board Trustees of Mahapola Higher Education Scholarship Trust Fund has decided to operate a ‘Mahapola Online Lottery’ and has called for Expressions of Interest (EOIs) from both local and international firms.
The Trade Ministry’s Procurement Committee has called for EOIs by 28 February from reputed international and local firms with proven experience of over 10 years in lottery implementation and management either globally or on a national scale.
The prospective companies must be able to demonstrate and establish sound financial strength and competence for the entire investment and complete operation of the online lottery.
“The fund is desirous and anxious to augment its fund to facilitate future increases in disbursements in the pursuit of its wider objectives,” sources said.
Accordingly, the interested applications should submit their EOIs for the operation of the online lottery, which will generate desired revenue for the Mahapola Higher Education Scholarship Trust Fund.
The Mahapola Higher Education Scholarship Trust Fund was established by an Act of Parliament in 1981 and since then, it has awarded composite scholarships to over 325,000 students whilst continuing with this noble objective of its founder late Lalith Athulathmudali.
Sri Lanka is engaged in an aggressive development programme that covers all key economic sectors in the country. This programme also includes the uplifting and expansion of businesses. Sri Lanka’s geographical positioning in the Indian Ocean, the many trade agreements as well as concessions enjoyed by the country and the business conducive environment have all helped boost Sri Lanka’s business potential. Given the expanding opportunities in the country and the overall resilience and strength shown by Sri Lanka, foreign businesses/investors could confidently explore the growing opportunities.
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