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People’s Bank in danger! ; Depositors continue to withdraw money

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The heads of all government corporations and departments have informed the Ministry of Finance that they will immediately transfer the existing accounts at the People’s Bank to other banks, the state-owned ‘Dinamina’ newspaper reported. 

In addition, many businessmen have also informed President Ranil Wickremesinghe as the Minister of Finance that they will have to withdraw their accounts from the People’s Bank.

They have informed the President that they would take this decision with regret since their businesses may be affected if protests and strikes continue to hamper the performance of the bank. 

The heads of corporations and departments have informed President Wickremesinghe that they had to face many inconveniences since the employees of the People’s Bank also joined the strike on Wednesday (15).

The heads of public corporations and departments have explained to the Ministry of Finance that the employees could not withdraw money for their needs, and therefore the clients were inconvenienced by having to find alternatives.

Therefore, they have requested the Finance Ministry to take necessary steps to remove their accounts from the People’s Bank and transfer them to other banks.

Meanwhile, President Wickremesinghe has informed the relevant authorities at the Finance Ministry yesterday (16) to pay special attention to the request made by the heads of government corporations and departments.

Only 113 People’s Bank branches were closed – PMD

However, the President’s Media Division quoted People’s Bank Acting CEO/GM Clive Fonseka and said that 272 Branches out of the 340 were fully functional with attendance reported at over 75% as at 10.30 AM on the 15th.

Depositors withdraw money

Meanwhile, economic experts pointed out that due to this situation, the customers of People’s Bank will probably be tempted to withdraw their money from the bank.

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Price of imported milk powder slashed

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The prices of imported milk powder will reduce with effect from Saturday (01), the Milk Powder Importers’ Association said.

The price of a 1kg packet of imported milk powder will reduce by Rs. 200.

The price of a 400g packet of imported milk powder will reduce by Rs. 80.

“However, the milk powder packets with new prices will be released to the market on Monday, following the weekend holiday,” the Milk Powder Importers’ Association pointed out.

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People’s Leasing presents their “Best Practice 2022” award to President

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People’s Leasing Company, a provider of financial solutions in the non-banking financial institutions sector in Sri Lanka, has been awarded the European Society Quality Research (ESQR) “Best Practices 2022” award, which is given annually to evaluate best practices.

The award was presented at the award ceremony held in Brussels, Belgium on December 11, 2022, and was officially presented to President Ranil Wickremesinghe at the President’s Office recently.

The award was presented to the President by Mr. Pradeep Amirthanayagam, Chairman of People’s Leasing and Finance Plc, and Mr. Shamindra Maserlin, CEO/General Manager of People’s Leasing Company.

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PickMe reduces taxi charges

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The PickMe taxi service has reduced the charge to Rs 68 per kilometer.

“The current slashing of petrol prices by CPC will be passed down to the passenger and we will continue to give value to the driver who works in the gig economy. The authorities have stipulated that the maximum price for tuk tuks have a starting price of Rs. 100 followed by Rs. 80 from the second kilometre. We are able to stay well below the rates of the road tuktuks as our digital platform makes the system efficient as drivers don’t have to be plying the roads in search of customers,” says Jiffry Zulfer, CEO of PickMe in a press release.

PickMe’s driver network is continuing to expand. Last year alone the app-based mobility company registered over 40,000 new drivers, the release said.

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