INSUBCONTINENT EXCLUSIVE:
People Bank will not be privatised & KiriellaThe government will not privatise the People Bank, assured Public Enterprise, Kandyan Heritage
and Kandy Development Minister and Leader of the House Lakshman Kiriella in Parliament yesterday
He was participating in the second reading debate on the People Bank (Amendment) Bill, which was taken up commencing Orders of the Day in
Parliament presided by Deputy Speaker Ananda Kumarasiri
He said he told this since the debate could deviate from the main topic of the motion
Finance State Minister Eran Wickramaratne, thereafter, commenced the debate on the Bill.‘Rs
1 billion granted to state workers for their defaulted EPF, ETF&Over Rs
1 billion was granted to state sector workers for their EPF and ETF
The payment was defaulted over two decades during the presidencies of Chandrika Kumaratunga and Mahinda Rajapaksa, Public Enterprise,
Kandyan Heritage and Kandy Development Minister and Leader of the House Lakshman Kiriella said in Parliament yesterday
The Minister was responding to a query by MP Velu Kumar during the round of questions for oral answers.He said the sum was granted during
the 100-day programme of the Good Governance Government
He submitted the Cabinet paper and the approval granted with the assistance of the then Finance Minister Ravi Karunanayake
MP Velu Kumar pointed out that seven-perche lands that the government promised during the election period for the state workers were not
provided to them including to the workers of the Hanthana Estate.Minister Kiriella said the government provided seven-perch lands to state
sector workers for the first time in history
&We are proud of it,& Minister Kiriella said
&Only a few remain to be provided with lands,& he said
The Minister said seven-perch lands were granted even to 500 families of the Hanthana Estate
&Can&t you remember Prime Minister Ranil Wickremesinghe and I went along with you to the land distribution ceremony,& Minister Kiriella
asked.Bill will help increase PB market share & EranThe People Bank (Amendment) Bill will help the bank increase its market share since the
state banks are slated to decline, Finance State Minister Eran Wickramaratne told Parliament yesterday
He was speaking in the debate on the People Bank (Amendment) Bill
He said the market share of the state banks is 45 per cent, and it would decline in future if proper measures were not taken
He said the amendment bill will enable the banks to overcome the situation.Nothing would happen to the ownership of the people Bank, and it
would be with the government, he said
vThe State Minister said private banks are expected to overtake state banks& market share in the next five years
He said the market share of state banks will reduce to 25 per cent in the next five years
He said the People Bank needs capital to maintain its market share
‘This law would give the People Bank freedom to issue debentures to increase its authorised capital to Rs
The amendment bill, however, would not lift People Bank being monitored by the Central Bank Monitory Board
He said that increasing of the People Bank authorised capital was recommended by the Central Bank in 2017.The State Minister said the People
It has 7,900 employees and 10 million clients
140 billion to the government
The People Bank is the second largest bank in the country
Today there are competitions among the banks in the country and foreign banks
He said the services provided by the state banks are far better than those of the United Kingdom
The People Bank Bill would introduce four amendments to increase its market share, he said.JO, MR government always protected state banks -
BandulaUPFA MP Bandula Gunawardena said the Joint Opposition (JO) and the Mahinda Rajapaksa government were always of the stand that state
banks should not be privatised, but they should be nurtured and developed
He was participating in the second reading debate on the People Bank (Amendment) Bill in Parliament yesterday.
&During 2001-2004, attempts
were made to privatise the People Bank and the Bank of Ceylon
I was the Deputy Finance Minister at the time
Luckily the People Bank Chairman at the time shared the same stand as us and stood against the attempt,& he said
He said the unions of the Bank of Ceylon, People Bank and the National Savings Bank were firm on the stand that these banks should not be
&The stability of banks depends on the confidence and faith that the public has in them
If it is lost, then collapse of these banks is inevitable, he said.&The global financial crisis in 2007 saw the collapse of many banks of
the western countries and this affected the Sri Lankan banking system as well
Mahinda Rajapaksa was the Finance Minister at that time and he quickly stepped in to prevent certain private banks from collapsing and took
them under the government
The Rajapaksa government goes down in history as a government that prevented the collapse of the country banking system,& Gunawardena
said.New legislation will push People Bank towards privatisation & BimalJVP MP Bimal Rathnayake said that changing the definition of
shareholders as per the section 13 of the People Bank through the new legislation would push the bank towards privatisation
He was participating in the second reading debate on the People Bank (Amendment) Bill in Parliament yesterday
&Who are the shareholders of the People Bank if the same section is removed?& he asked.He said that according to the Act, the shareholders
of the People Bank are the government and cooperatives
MP Rathnayake said the country could face the global economic recess successfully since the government controlled the finance of the country
The government assets were sold to private sector all over the world during the past 15 years
&The public institutions that were set up with the tax of the people are bankrupted by politicians and then sold to the private sector,& he
He said the proposed bill has taken the initial step to privatise the People Bank.
The JVP is not seeing crocodiles in the tea cup, yet it
is the truth behind the amendment bill that is discussed, he said
Responding MP Rathnayake query as to who would be the share holders of the People Bank following the passage of the Bill, Finance State
Minister Eran Wickramaratne said that he would discuss the matter and answer later
Economic Reforms and Public Distribution Non Cabinet Minister Harsha de Silva, responding to query, later said the People Bank will not be
privatised by any means.‘Private sector should not be allowed to get People Bank stake&UPFA Parliamentarian Lakshman Yapa Abeywardene said
that increasing the capital of the People Bank is not wrong in anyway but the private sector should not be allowed to get a stake of the
bank through the debenture issue
He was participating in the second reading debate on the People Bank (Amendment) Bill in Parliament yesterday
He demanded Finance Minister assurance that private sector would not be able to get hold of a stake in the People Bank.He said the People
Bank was set up in 1961 to assist the rural people
When American banks faced bankruptcy, the People Bank and the Bank of Ceylon rendered a incomparable service to the nation
We should be concerned when we amend laws on these banks
He said UNP governments attempted to privatise various government institutions
Strengthening the capital is no issue, but the decisions on debentures should be explained by the Finance Minister
The government should assure that the debentures would not be converted.Independent commission on Easter attacks requestedA group of
Catholic Parliamentarians in the Opposition have submitted a letter to President Maithripala Sirisena requesting him to appoint an
independent commission to investigate the Easter Sunday attack that claimed over 300 lives and injured around 600 civilians and reveal who
They said there are serious concerns among the public regarding the independence of the commissions and investigations.&The Parliament
Select Committee appointed to investigate the Easter Sunday attacks is trying to safeguard real culprits
It is very clear now that appointing the PSC was a mere ploy to prevent the no-confidence motion that was planned against Minister Rishad
Bathiudeen and cover up the allegations against him,& they stated in the letter.The PSC has revealed only the identities of the intelligence
officers, not the identities of the perpetrators, the letter said
&Archbishop of Colombo, His Eminence Malcolm Cardinal Ranjith has requested on numerous occasions that he and the Christian community have
no faith in the manner these investigations are carried out
The victims are thoroughly disappointed knowing that certain political leaders in this government provided political asylum to key accusers
Therefore, it is important for the public to know who was responsible for the attacks, who neglected carrying out their responsibilities and
what or who obstructed responsible authorities from taking necessary actions to prevent this attack on the day,& they noted in the
letter.
The opposition legislators also reminded the President that it is upon him, as the Head of State, to ensure that the culprits are
properly dealt with and that the public is made aware of what actually happened
MPs Johnston Fernando, Nimal Lanza, Indika Anurudda, Sudarshini Fernandopulle, Sanath Nishantha and Arundika Fernando were the signatories
to the letter.‘Kiriella is fit for UNP presidential candidacy&Kandy District MP Ananda Aluthgamage suggested in Parliament yesterday that
Leader of the House and Minister Lakshman Kiriella is fit for the UNP presidential candidacy
He made the suggestion when he found Minister Sajith Premadasa was absent in the House to respond questions he raised during the round of
question for oral answers.When Minister Kiriella inquired in a light way would Ananda Aluthgamage help him if he contested, Aluthgamage said
several others in the opposition, too, would support him.MP Aluthgamage said the Housing Minister was not present in the House to answer him
on any day but Minister Kiriella and Chief Government Whip Gayantha Karunathilaka.He had submitted some questions on several housing
projects carried out by the government and the Chief Government Whip responded to his questions in the absence of Minister Premadasa.&The
minister was not present to answer these questions yesterday and he not here today as well.& MP Aluthgamage said
&Ministers Gayantha Karunathilaka and Lakshman Kiriella are always present in the Chamber
In fact, Minister Kiriella should be made the presidential candidate,&MP Aluthgamage said the Housing Minister is living the Presidential
&If he is this difficult to approach as a minister, what could we expect if he becomes the President,& he asked.
