Micro financial credit programs to start self-employment projects

Shirley Wijesinghe

Despite the fact that the people display a negative attitude towards public servants who are graduates, the 600 graduates recruited by the Ministry as Humen Resources Officers are genuinely devoted to their duties, Secretary to the Ministry of Labour Relations and Manpower Mahinda Madihahewa said.

He added that the Ministry has a great responsibility towards the nine million strong workforce in the country and the Ministry was very keen about their progress.

He was speaking at the signing of a Memorandum of Understanding(MoU) between the Ministry of Labour Relations and Manpower and the People's Bank to introduce a Micro financial credit program to those keen to set themselves up in self-employment projects.

More than 70 percent of job seekers live in the rural and remote areas. The self-employment projects to be started by them should be based on their own resources, he added.

People's Bank Chairman W. Karunajeewa said the People's Bank was popular once as a bank which serves selected people of society. But this situation has been changed today under the present Government. The People's Bank has now become the Bank of the people in the true sense of the word.It has been proven by its service to the people.

According to the MoU, credit facilities will be provided at 12 percent interest with the technical assistance of the Ministry of Industrial Development.

According to the message sent by Minister of Labour Relations and Manpower , Athauda Seneviratne , there are 8160 ''Job Societies'' established throughout the country and about 20,000self- employment projects are in progress.