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90 percent rural poor indebted to microfinance companies

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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.



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Thanuja Murugesan appointed as Chief Secretary of the Northern Province

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Ms. Thanuja Murugesan receives her letter of appointment from Secretary to the President, Dr. Nandika Sanath Kumanayake.

President Anura Kumara Disanayake has appointed Ms. Thanuja Murugesan as the new Chief Secretary of the Northern Province.

The official letter of appointment was presented to her on Tuesday (20) afternoon  at the Presidential Secretariat by Secretary to the President, Dr. Nandika Sanath Kumanayake.

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President directs officials to promptly renovate the canals and drainage system in Colombo

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With the rapid increase in dengue and chikungunya cases in the Colombo district, President Anura Kumara Disanayake has directed the relevant officials to promptly address the urgent maintenance of the canals and drainage system

The President gave these directives during a meeting held on Tuesday (20) at the Presidential Secretariat with officials from the Ministry of Urban Development, Construction and Housing, along with other relevant institutions.

The President questioned the officials regarding the inadequate maintenance of the canals and drainage systems, directing the Urban Development Authority to devise a plan that includes sustainable solutions for the improper disposal of waste and wastewater. The President also informed the relevant officials to submit the relevant plans promptly.

During the meeting, attention was also drawn to address the issue of improper waste disposal by enhancing the active involvement of Police Environmental Protection Division and Community Committees.

Minister of Urban Development, Construction and Housing Anura Karunathilaka, Governor of the Western Province Hanif Yusoof, the Chairman of the Urban Development Authority, the Chairman of the Sri Lanka Land Development Corporation and senior officials of relevant institutions were present at the meeting.

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Committee formed under Presidential Secretariat to investigate irregularities at SriLankan Airlines

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President Anura Kumara Disanayake has instructed relevant authorities to establish a committee under the Presidential Secretariat to investigate allegations of corruption and mismanagement at SriLankan Airlines.

The directive was issued during a four-hour meeting held on Tuesday (20) at the Presidential Secretariat, attended by the airline’s Board of Directors and representatives from all affiliated trade unions.

The discussions aimed to secure the collective commitment of stakeholders to uphold the government’s decision to retain state ownership of the airline, eliminate losses and steer it toward recovery. President Disanayake stressed that rebuilding SriLankan Airlines would be impossible without unified efforts, adding that the institution must develop its internal capacity to rebuild itself.

Asserting the government’s role as the political authority, the President reiterated its commitment to making “all necessary sacrifices” to rescue Sri Lanka from its economic crisis. He emphasised that reviving the national carrier is the shared responsibility of its entire workforce.

Highlighting the allocation of Rs. 20 billion from the budget for SriLankan Airlines, the President underscored the need for stringent fiscal accountability, noting that these funds, drawn from public taxes, must be utilised efficiently. He also welcomed the “positive trend” of April’s operational revenue surpassing targets.

New proposals have been presented by the Board of Directors to transform SriLankan Airlines, which operates under government ownership, into a profitable entity. In line with these proposals, the trade union representatives who participated in the discussions stated before the President that they would extend their full support to achieving these goals.

Key Attendees at the meeting included:. Sarath Ganegoda, Chairman of SriLankan Airlines and members of the Board of Directors, representatives from trade unions, including: Flight Attendants’ Union (FAU), the Airline Pilots’ Guild of Sri Lanka (ALPGSL), the Association of Licensed Aircraft Engineers (ALAE), the SriLankan Airlines Aircraft Technicians’ Association (SLAATA), and the Sri Lanka Nidhahas Sewaka Sangamaya (SLNSS), the Inter-Company Employees’ Union (ICEU) and the SriLankan Airlines Executive Association (EASLA).

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