News
90 percent rural poor indebted to microfinance companies
Ninety percent of the rural poor had obtained loans from microfinance companies, National Movement of the Victims of Microfinance, Convener Nirosha Guruge said yesterday, addressing a press conference in Uva Paranagama.
“Most of the Microfinance firms are not registered and when they started giving loans, on a massive scale, we warned that this would lead to a crisis,” she said.
Guruge said that in many instances those who have been entrusted with collecting debt are demanding sexual favours from indebted women.
“So please regulate this sector. We have been demanding this for years. From the previous budget, the government promised to establish a regulatory body for microfinance. But it was not implemented,” she said.Guruge said that people have been manipulated into taking loans, sometimes at 120 percent interest.
She said that UN Special Rapporteur Tomoya Obokata on contemporary forms of slavery admitted that microfinance schemes, which disproportionately target women living in poverty in rural areas, often lead to high levels of indebtedness.
“By 2021, 2.8 million women were estimated to be trapped in unpayable debt, related to microfinance. The number has increased in the past year due to the financial crisis,” she said.
Prime Minister Harini Amarasuriya yesterday sad that the Executive Presidency would be abolished, in line with the NPP’s election manifesto.
Speaking in Parliament, in response to a question raised under Standing Order 27/2 by Opposition and SJB Leader Sajith Premadasa, the Prime Minister said the abolition would take place through a proposed new Constitution.
She added that preliminary work on drafting the new Constitution had already begun, with previous committee reports and other proposals being studied to guide the process.
“A concept paper on the draft will be presented to the Cabinet,” Amarasuriya said, noting that a formal study has been initiated on abolishing the Executive Presidency.
She said that the move cannot be implemented without introducing a new Constitution.
Leader Sajith Premadasa told Parliament yesterday that the suspension of duties imposed on Dr. Rukshan Bellana, Deputy Director of the National Hospital, amounted to a violation of his fundamental rights.
Raising the issue during parliamentary proceedings, Premadasa, who is also the SJB Leader, questioned the decision to suspend the senior medical officer for issuing a statement to the media, particularly on matters relating to children’s medicines.
He said health was a fundamental right and noted that two children had reportedly died, stressing that the focus should be on accountability over the incident rather than penalising a medical professional for speaking out.
Premadasa criticised the authorities for suspending Dr. Bellana solely for communicating with the media, asking whether such action constituted justice for families who had lost their children.The Opposition Leader said silencing officials, who raise concerns, undermines fundamental rights and does not address the underlying issues related to patient safety and public health.
Acting Deputy Director of the Colombo National Hospital Dr. Rukshan Bellana has been suspended.
A letter, issued by the Ministry of Health, says preliminary investigations by the Ministry of Health has revealed that Dr. Bellana, as a government medical officer holding a responsible position, made statements to the media, without approval, in a manner that created a controversial situation in the country and unrest among the public.
The letter further stated that formal disciplinary action will be taken in due course regarding this matter.
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PM says govt. will introduce a new Constitution to abolish executive presidency
Opposition Leader rises in defence of Dr. Bellana
Dr. Bellana suspended for speaking to media
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