Report of committee on increasing senior citizens’ accounts interest rates to President next week

Colombo,May 18 (DailyMirror) - The report of the committee appointed to inquire on increasing the interest rates of the bank accounts of senior citizens will be handed over to the President next week, Finance State Minister Ranjith Siyambalapitiya said.

He said the committee appointed to study and prepare a report regarding the increase in the interest rates for senior citizens’ accounts met at the  of Finance Ministry. Minister Siyambalapitiya said that during the meeting he had directed the committee to find out how the interest rates can be raised based on the current economic situation and act accordingly.

"There are about 1.1 million accounts owned by people over 60 years of age and there is a need to regularize them. In particular, comments were expressed regarding the investigations of a single person maintaining several bank accounts, and depositing money of other parties in those accounts. The relevant report is to be submitted to the President next week," he said

Meanwhile, several proposals regarding raising the salaries and allowances of Samurdhi officers, Grama Niladaries and government executives were also discussed at the meeting.