People's Bank launches savings scheme for three wheeler drivers

THE People's Bank has come out with a pioneering project to help Three-Wheeler drivers through a programme titled "Thrirodha Ratha Viyawasayaka Diriyata Savimath Athwelak " (Supporting Three Wheeler Entrepreneurs).

Addressing a ceremony held last Friday at the People's Bank Auditorium at D.R. Wijewardene Mawatha Colombo, Finance Minister Dr. Sarath Amunugama who is also the Investment Promotion Minister endorsed the steps taken by the People's Bank to provide relief to the Three-Wheeler drivers recognising them as partners in building the national economy.

Dr. Amunugama told the three-wheeler drivers that the Government has seen how they go about their work and how careful they are with what they earn through hard labour.

"We have seen you earn your living not by boasting but working hard without becoming a liability. Hence we welcome the move of the People's Bank to launch a special saving scheme on your behalf.

The Bank has shown that it is really down to earth. That may be because the PB has its origin in the Cooperative Movement whose architect was Vincent Subasinghe, the first chairman of the People's Bank," Amunugama added.

The Minister also lauded the People's Bank for being the first to provide assistance to the victims of Tsunami and said that recognition should be given to those People's Bank officers committed to serve.

"We have requested the authorities concerned to recognise and fete them, give them a " Medal" in recognition of service, they offered at a trying time like the Tsunami", he said.

There are nearly 250,000 Three wheelers in the country. The majority of them are in the service sector providing transport facilities to the people.

Commending their services the Minister said that three-wheeler drivers who transport one million people a day, silently do their job and serve the larger community without much ado, unlike many others who goes on picketing and shouting with slogans to win various demands.

When the UPFA government prepared the first budget the Finance Ministry decided to canvass ideas from the people and we discussed with various groups.

The Three-wheeler drivers represented one segment of society. We took their views into consideration and promised to provide them assistance and we did include what sort of assistance the Government intends giving them in our first budget.

"Today we implement what we promise you", the Minister said.

The Minister said: "We are very proud of you. You are an example to others in the business world. You are an important component of our economy.

While we politicians keep on promising providing jobs, you have chosen you own means of living without being a burden on the state. It is your own efforts that bring good results to you and benefit the country in the long run.

It is you who give credit to what we say and make them true by your commitment to work and your determination. Hence undoubtedly you are the most popular service provider and hence we salute you".

He said that although the well do, try to get benefitted from all project we launch to help the poor, the project launched by the People's Bank will not allow them to do so.

Making reference to the high cost Sri Lanka has to incur in importing crude oil, Dr. Amunugama said that the country has to pay at the rate of US $ 67 per barrel and times are very hard to cope with.

He said that today rich countries like Japan buy oil at competitive prices. China buys at high price because there is a big demand for oil in China.

Sri Lanka has to compete with countries who were one time colleagues of the Pauper's Club. Most of the member countries of that Pauper's Club are doing well, while Sri Lanka is struggling to rise from the economic muddle.

Minister Amunugama said that the UPFA Government wanted to see the economic development become a reality to see the marginalised enjoy the benefits of the economic development. The People's Bank is committed to ensure the success of small-time entrepreneurs.

The UPFA Government is committed to give a place to the common man and for this we all have to work as a group in unity, the Minister added.

Three- wheeler drivers can benefit from the Saving scheme by opening up an account with the People's Bank.