PM tells banks to adopt relaxed policy towards those in distress | Daily News


PM tells banks to adopt relaxed policy towards those in distress

Prime Minister Mahinda Rajapaksa who serves as Minister of Finance yesterday addressing a Progress Review meeting held at the Ministry instructed the heads of State banks to adopt a relaxed policy in providing loans to the people who are facing various economic crises.

The Prime Minister said that people who find it difficult to repay loans and those who come to get new loans should not be unnecessarily inconvenienced at banks.

Ajith Nivard Cabraal, Finance and Capital Market, Public Enterprise Reforms State Minister drew the attention of the Premier on issues faced by the public in verifying data of the Sri Lanka Credit Information Bureau (CRIB) adding that a person who has been listed as a guarantor would be automatically disqualified and blacklisted if the person receiving the loan has defaulted payments. He requested the Premier to instruct banks and state departments to provide appropriate relief procedures.

Meanwhile, State Minister Shehan Semasinghe, who heads development of Samurdhi home economy, microfinance, self-employment and businesses as well as underutilized state-owned-enterprise, said that the previous Government had specially provided Samurdhi assistance to party members. The Prime Minister instructed officials to look into this and take necessary steps to provide Samurdhi to all low income families without any political patronage.

Meanwhile a sum of Rs. 28 billion has been allocated for the Modern Villages project under the Vistas of Prosperity. Accordingly, Rs. 2 million each is to be distributed to 14021 Grama Niladhari Divisions.

The following projects were selected by the Rural Community Committees on the instructions of the Prime Minister to be implemented. These include the development of: rural roads, culverts, small bridges, drains; storage facilities required for agricultural products; rural economic centres, weekly markets and marketplaces; small tanks, canals, ponds, agricultural wells; community drinking water supply projects; rural medical centres; electricity, water and sanitation facilities for schools and projects to eliminate or minimize hazards from wildlife to human habitats.