I read in the Daily News on March 26, of two famous American
millionaires, who are eager to help the poor in a very effective manner,
thereby persuading others in their category to follow suit.
We are fortunate to have men of their wealth and calibre, because in
the midst of whom there are many apart from helping the poor, does not
even bother to acknowledge there are thousands around them who go to
their mats daily on empty stomachs, specially children.
Usually, men of wealth, not all, shun those who are poor, similar to
the story in the Holy Bible about Lazares and the wealthy man. Under the
above circumstances these two gentlemen and their spouses should be
admired for their desire to help those who are less fortunate. This
attitude is unique in today's world where most men of wealth continue to
accumulate more and more wealth, becoming extremely selfish.
Helping the poor would assist the government to eradicate poverty to
some extent, which needs the assistance of those who are wealthy,
narrowing the gap of the two categories.
The Municipal quarters of Roxy Watte, Wellawatte 480 Galle Road,
Colombo 6 area housed families of those who worked at the Colombo
Municipal Council (CMC). However all those employees have now retired
and many are dead. Their descendants are now squatters in these quarters
and they have even built structures and rented them out.
Under an act passed in Parliament (Recovery of possession of
government quarters) government quarters can be recovered without
lengthy court proceedings. These illegal occupants have even filed a
case against the CMC. CMC lawyers should point out the act to the judge
and take action to evict these squatters - who can also be charged under
the public property act for causing losses to the CMC.
This refers to my letter under the above caption which appeared in
the Daily News on November 29, 2010.
Inspite of the fact that the majority of the banks have made enhanced
profits as indicated below, it is a matter for regret that they continue
to pay a low interest to the senior citizens although they expected some
relief from the commencement of this year.
According to the Budget for 2011, the Corporate Tax from banks is
reduced from 35 percent to 28 percent and the Nation Building Tax is
also reduced. This will result in a further increase in the
profitability of the banks.
I wish to appeal to the authorities to intervene in this matter and
ensure that all senior citizens, specially those who have retired from
the Corporation/Private Sector who are not entitled to a pension and who
have invested a part of their terminal benefits to receive a monthly
interest as income are paid an increased interest on their fixed
deposits from the enhanced profits which the banks continue to earn or
consider paying a bonus interest which was paid from 1.1.2010 and later
withdrawn in July, 2010.
H W Goonesekera
The public should know what category of private companies will be
considered for the pension scheme. There are many types of companies
started by Britishers, after 1948 and 1977.
At present if a company changes its address they should inform the
Registrar of companies, ICTAD, Labour Department, Central Bank, Chamber
of Commerce, Contractors Association or publish in the newspapers.
When an employee joins a company and if the employer does not inform
the Labour Department and Central Bank or do not give EPF statements to
employees, what is the mechanism in force to punish him? If the labour
Department says registered letters are not received, files are missing
or an officer handling a case has left who will support the employee?
Before remittances were made by the employer if company declares
bankruptcy who will pay EPF/ETF or pension?
Over 300 million shares have been sold recently in a private
placement at Rs 6 per share and the price at the Initial Public Offering
(IPO) is Rs 14 for 172 million shares. What will happen to the buyers
who buy at Rs 14 at the IPO if the parties who bought at Rs 6 decide to
sell theirs below 14? Will Securities and Exchange Commission explain
B S Perera,