News
Six failed finance companies had Rs 62 billion in deposits
By Saman Indrajith
Finance, Money and Capital Markets and State Enterprises Minister Ajith Nivard Cabraal told Parliament on Wednesday that around 62 billion rupees had been deposited by customers in six failed finance companies during the past six years.
Responding to a question raised by Ratnapura District SJB parliamentarian Hesha Withanage, the minister said that 256,306 customers had deposited Rs. 61.79 billion from 2015 to Aug 2020 in those companies.
The failed finance companies were the Central Investment and Finance Ltd (formerly known as Central Investment and Finance PLC), The Standard Credit Finance Ltd, TKS Finance Ltd., The Finance Company PLC, ETI Finance Ltd., and Swarnamahal Financial Services PLC, the minister said.
He said that The Finance Company had 147,152 customers who made deposits amounting to Rs. 27,400 million, ETI Finance had 37,586 depositors with Rs. 22,648 million, Central Investment and Finance had 20,161 with Rs. 3,965 million , the Standard Credit Finance had 6600 depositors with Rs. 2,721 million, TKS Finance had 35,184 with Rs. 2,691 million and Swarnamahal Finance Services had 9,623 depositors with Rs. 2,372 million.
Minister Cabraal tabled in the House the names of the members of the directors of the failed finance companies and the measures had been taken by the Central Bank to assist the depositors in recovering their money.
The minister said that there were 41 financial institutions registered with the Central Bank as of Aug 31, 2020.
News
‘Vision’ Programme Marks Two Years
Marking the completion of two years of the ‘Vision’ Programme, students from Pinnawala Central College and Matale Siri Seevali College were given an opportunity on Thursday (24) to visit the Presidential Secretariat.
The ‘Vision’ Programme was launched for schoolchildren jointly by the Presidential Secretariat, the Ministry of Education and the Department of Communication of the Parliament of Sri Lanka.
Following a visit to the former Parliament building at the Presidential Secretariat, the students were also briefed on the history of Parliament.
The role of the President’s Fund and its importance to schoolchildren were explained by Senior Additional Secretary to the President Roshan Gamage.
The ‘Vision’ commemorative book, featuring the two-year journey of the ‘Vision’ Programme and its special activities, was also presented to the participating schools.
As part of the programme, valuable plants were also presented to the schools as a symbolic gesture underscoring the importance of environmental conservation.
Director General of Public Relations Dharmasiri Gamage, the Director and Assistant Director of the Tri-Services Security Coordination Unit, the principals and teaching staff of Pinnawala Central College and Matale Siri Seevali College, and students were among those present on the occasion.
President’s Media Division (PMD)
News
Sajith vows to scrap 22A under future govt.
Opposition and SJB Leader Sajith Premadasa yesterday vowed that an SJB government would repeal the 22nd Amendment (22A) to the Constitution.Premadasa made the pledge while addressing thousands of SJB supporters who gathered near Parliament to protest against 22A.
Addressing the rally at Polduwa Junction, Battaramulla, Premadasa said the proposed constitutional amendment would undermine democracy and judicial independence and enable the concentration of political power in the Executive.
“Even if they pass it, under an SJB government we will scrap it,” Premadasa told the gathering, claiming that 22A was aimed at paving the way for a one-party state and placing the State under the control of a single political party.
Braving the rain, Premadasa said they had gathered there peacefully and had no intention of resorting to violence.
“We have gathered here to protect democracy,” he said, challenging the government to hold Provincial Council elections if it was confident of facing the people.
Premadasa said the SJB was prepared to work with any democratic and clean political force committed to the country’s progress and public welfare, amid ongoing discussions on cooperation among Opposition parties, including the United National Party.
Premadasa also accused groups aligned with the government of attempting to discourage people from attending the protest through statements and other measures.
SJB General Secretary Ranjith Madduma Bandara said the protest had been organised against the proposed amendment, which the party had opposed on the grounds that it could pave the way for authoritarianism.
The demonstration began around 9 a.m. at Polduwa Junction and coincided with Parliament taking up the proposed 22nd Amendment for debate. Proceedings on the Bill are scheduled to continue today (25).
The Supreme Court has determined that the proposed amendment does not require approval at a referendum and could be passed with a special majority in Parliament.
Meanwhile, traffic congestion was reported on roads surrounding Parliament and Polduwa Junction following the demonstration.
Security was also tightened in and around the Parliamentary complex, with a heavy police presence observed at Polduwa Junction and near the main entrance to Parliament.
News
Two retired female Navy officers remanded over disappearance of two women during war
Two retired female Navy petty officers were ordered to be remanded until October 5 over their alleged involvement in the abduction and disappearance of two women in Trincomalee during the war.
Trincomalee Chief Magistrate M.S.M. Samsudeen yesterday ordered that the two suspects be remanded and directed that they be produced for an identification parade on October 5.
The suspects, residents of Chilaw and Haputale, were arrested after appearing before the CID in connection with another court case. They were subsequently produced before the Trincomalee Magistrate’s Court.
The court was informed that the investigation concerned the alleged abduction of Sasikumar Thenmoli and Mary Delsia, residents of Paalaiyootru, Trincomalee, on or around May 13, 2008.
The CID told court that information uncovered during its investigations indicated that the two women had allegedly been detained at an underground location known as the “Gun Site” at the Trincomalee Naval Base while the two suspects were serving in the Navy. The women were subsequently reported missing.
Further investigations into the alleged abduction and disappearance of the two women are continuing.
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