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Gender Equality Parliamentary Select Committee: Finance Ministry to report on microfinance reforms in month

13 Apr 2021

  • Parliamentary Select Committee to apply gender lens to new legislation

  The Ministry of Finance is to report to the Parliamentary Select Committee (PSC) on Gender Equality in a month regarding reforms that are to be introduced by the Ministry as solutions to the microfinance issue faced by women. Speaking to The Morning yesterday (12), Committee Member and National People’s Power (NPP) parliamentarian Dr. Harini Amarasuriya said that when the Committee had their first meeting last week, Finance Ministry officials had informed that they are currently in the process of bringing about certain reforms in response to the microfinance issue and that they would report to the Committee in a month. “The PSC on Gender Equality met with Finance Ministry officials and asked as to what they are doing about the microfinance issue. The officials said that they are bringing in some reforms for it and that they would report to us in a month.” Microfinance loans are considered to be an issue faced by a large number of women in Sri Lanka. The issue has led to rural women taking their own lives because of their inability to pay back their loans. A “satyagraha” protest campaign is currently being held since 8 March in Hingurakgoda against microfinance debt. It has also been revealed that the approval of the Cabinet of Ministers has been granted for the establishment of a regulatory authority in order to regulate microfinance loans. Speaking further on the Committee’s plans, Dr. Amarasuriya said that the Committee would be analysing new bills that are to be introduced, from a gender perspective, adding that the decision on what the marriageable age is would also receive their attention. The PSC acts as a body for women to direct their grievances regarding gender-based discrimination. However, Dr. Amarasuriya said the Committee has not received any grievances as of yet. The meeting was chaired by State Minister Dr. Sudarshini Fernandopulle.


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