Written by Staff Writer
06 May, 2015 | 9:51 pm
The Killinochchi regional office of the Central Bank of Sri Lanka was declared open on Wednesday May 06.
The opening ceremony was held under the auspices of Minister of resettlement, reconstruction and Hindhu affairs D.M. Swaminathan.
The event saw the participation of ministers including Deputy minister of Policy Planning and Economic affairs Harsha de Silva and governor of the Central Bank Arjuna Mahendran.
Deputy Minister of Policy Planning and economic affairs Harsha de Silva noted that it is important to make sure that the right policy is in place since there have been policies in the past which created problems subsequently. Even if it is taxation or regulation it must be made sure that the policy makers are equitable and that they do not discriminate a particular group of people.
He went on to note that five years since the end of the war, one cannot oversee the infrastructure and the development that has taken place in this part of the country. Lot has happened such as roads have come up, electricity has been provided but that alone is insufficient, the people should feel that they belong to the country as equal citizens.
Governor of the Central Bank Arjuna Mahendran stated that the average debt of a average family in the Northern Province has increased, from 2009. It was about 52,000 rupees but now families running a debt on average of about 194,000 rupees. It is a good thing as it increases consumption and economic activity but on the other hand banks are also lending money prudently to families.
He went on to note that one aspect which will be commenced in the Killinochchi branch is credit counselling, also classes will be started where experts will call particular low income families and help them to plan how they borrow from banks to see that they do it an affordable and sustainable manner.
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