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Microfinance credit crisis, a reason behind rural women going to Middle East!

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The Sectoral Oversight Committee focused on mitigating the impact of the economic crisis on the affected parties due to the micro-finance crisis in Sri Lanka.

Attention was drawn to the aid when the Sectoral Oversight Committee on Alleviating the Impact of the Economic Crisis met in Parliament recently (09) under the Chairmanship of MP – Gamini Waleboda.

Organizations in Sri Lanka representing people aggrieved by microfinance loans were called before this Committee. Accordingly, officials representing the Central Bank of Sri Lanka, Ministry of Finance, Economic Stabilization and National Policy, Department of Prosperity, Ministry of Women, Child Affairs and Social Empowerment, Department of Registrar of Companies were present at the Committee meeting held.

28,000,000 rural persons affected!

Addressing those present, Sri Lankan organizations representing persons aggrieved due to microfinance loans had pointed out that number of aggrieved rural civilians stand at 28,000,000, out of which 24,000,000 are women. It was also mentioned that these facts were identified in a survey conducted in 2018. 

One reason for rural women going to Middle East

Furthermore, the representatives pointed out that even though these loans were given for a small amount, the rural persons were unable to pay them, but 38%, 48% interest was collected and because of this, the lives of the rural women had become completely miserable. They also pointed out that the microfinance credit crisis has also caused more rural women to join domestic work in Middle Eastern countries.
And it was disclosed that this crisis in the microfinance sector was created in the largest group that obtained loans from six Major non-banking financial companies under the supervision of the Central Bank, and these institutions have provided 80% of the total microfinance loans of 84,000 million i.e. 67,000 million rupees. It was disclosed that the property of those who obtained loans has already been acquired.

Bill doesn’t address concerns of aggrieved parties

Furthermore, the representatives of the aggrieved parties pointed out that the problems of the aggrieved parties have not been addressed in the proposed Bill and thus they have to face more problems.

The Chair of the Sectoral Oversight Committee pointed out that there is a need to undergo a complete review of the proposed Bill and accordingly, without inconveniencing the government, the Central Bank and the Ministry of Finance should jointly review the Act and amend the Act to provide solutions to the real problems of the victims and not to protect the six major financial companies.  He further pointed out that if not the 30/40 hundred thousand microfinance customers in Sri Lanka will have to face problems. The Chair of the Sectoral Oversight Committee mentioned that the Parliament is waiting to be informed about this by the Sectoral Oversight Committee.

Dr.Sarath Weerasekera, Nimal Lanza, Mohomad Muzammil, Asanka Navaratne, Wasantha Yapabandara, Nimal Piyathissa, and Jayantha Samaraweera, were present in this committee.

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Petition filed against barring women from ‘Station Master’ posts

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The Supreme Court of Sri Lanka today (July 11) granted leave to proceed with a Fundamental Rights petition filed by two women challenging the gender-based restriction preventing women from applying for the position of Station Master in Sri Lanka Railways.

The petition was taken up before a three-judge bench comprising Justices A.H.M.D. Nawaz, Priyantha Fernando, and Sampath Wijeratne.

Appearing on behalf of the petitioners, Attorney-at-Law Nuwan Bopage submitted that the Railways Department had issued a gazette notification dated June 13, calling for applications to fill 106 vacant Station Master positions.

However, the notification stipulated that only male applicants were eligible to apply.

The counsel for the petitioners argued that this constituted a violation of the petitioners’ fundamental rights guaranteed under Articles 12(1) and 12(2) of the Constitution, which ensure equality before the law and prohibit discrimination on the basis of gender.

He further contended that the restriction also infringed upon the petitioners’ right to engage in employment of their choice.

Accordingly, the petitioners sought a declaration from the court that their fundamental rights had been violated and requested an order to remove the discriminatory provision in the said gazette notification, which limits eligibility to only male candidates.

After considering the facts presented, the Supreme Court granted leave to proceed with the petition and scheduled the plaint for hearing on August 27.

(adaderana.lk)

(This story, originally published by adaderana.lk has not been edited by SLM staff)

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Chemmani mass grave : ITAK urges President AKD to take urgent measures

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The Ilankai Tamil Arasu Katchi (ITAK) has written to President Anura Kumara Dissanayake urging to take immediate action to ensure truth, justice, with regard to the ongoing Chemmani mass grave investigation.

The letter emphasized that over 65 skeletons, including those of infants, have been recovered so far, affirming the scale of atrocities allegedly committed in the region.

ITAK also called for the public release of all forensic reports and DNA findings and warned that symbolic reconciliation would remain hollow without legal accountability.

Signed by senior ITAK leaders C.V.K. Sivagnanam and M.A. Sumanthiran, the letter urge the President to implement the following without delay :

  1. Consolidate the legal cases related to the 1999 and 2025 exhumations into a single judicial and forensic inquiry under the Colombo and Jaffna Magistrate’s Courts.
  2. Engage independent, internationally respected forensic experts to oversee all stages of the investigation, ensuring forensic integrity and public trust.
  3. Publicize all interim and final forensic reports, DNA profiles and identification results, and facilitate access for victims’ families, civil society and international observers.
  4. ⁠Repatriate the remains excavated in 1999, currently believed to be held in Glasgow, so they may be examined under the same protocols and returned to their families with dignity.
  5. ⁠Allocate significantly enhanced financial and logistical resources to ensure that the current excavation is completed under international standards; hundreds of families continue searching for missing loved ones, and without truth and accountability, reconciliation remains a facade.Concurrently, take steps to prosecute those responsible for these heinous crimes, which is essential for national healing.

The ITAK’s letter is as follows :

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Let’s build a nation rooted in historical heritage (Pics)

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President Anura Kumara Dissanayake stated that a society cannot progress without a meaningful connection to its historic heritage and that the nation’s development path must be chosen accordingly.

The President made these remarks while addressing a ceremonial gathering yesterday (July 10) afternoon at the historic Ruhunu Kataragama sacred site.  

Earlier in the day, President Dissanayake visited the sacred grounds of Kataragama, participated in religious observances and later paid a courtesy call on the Venerable Kobawaka Dhamminda Nayaka Thera, the Chief Incumbent of the historic Kirivehera Rajamaha Viharaya, inquiring about his well-being and engaging in a brief discussion.

The President also attended the final Randoli Maha Perahera (Golden Chariot Grand Procession) of the annual Esala Festival at the Ruhunu Kataragama Maha Devalaya, where he witnessed the ceremonial placement of the sacred relic casket upon the relic bearing tusker.  

Addressing the gathering, President Dissanayake further emphasised that a nation can only move forward by maintaining continuity with its historic heritage. He noted that every developed country in the world has achieved progress by preserving its historical legacy and building upon it, stressing that Sri Lanka, too, must choose a development path anchored in its heritage.

The President highlighted that Buddhism played a pivotal role in transforming our society into a cultured civilisation and that cultural festivals like this help revive and strengthen the moral and social values of a society often preoccupied with material pursuits.  

He pointed out that the Ruhunu Kataragama Perahera has been held continuously for 2,186 years, spanning nearly a hundred generations and that its survival has been possible due to the deep connection between this cultural ceremony and the lives of the people. The President extended his gratitude to all those, including the Chief Incumbent, who contributed to the success of this year’s procession.  

Among those present at the occasion were Deputy Minister of Trade, Commerce, Food Security and Cooperative Development, R.M. Jayawardena, Governor of the Uva Province, Attorney-at-Law Kapila Jayasekara, Member of Parliament Ruwan Wijeweera, Chairman of the Kataragama Pradeshiya Sabha, Dharmapala Herath and Monaragala District Secretary Pasan Ratnayake.

(President’s Media Division)

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