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Weerawansa urges President to fast-track interest-free university student loan scheme
By Sanath Nanayakkare
National Freedom Front (NFF) Leader Wimal Weerawansa yesterday urged the Finance Minister and President Ranil Wickremesinghe to expedite the enrollment of students selected to enter non-state/private universities under the student loan scheme initiated by the Yahapalana government in 2017.
“As you are well aware, due to the limited
capacity of enrolling students to state universities, not all students who are eligible for university entrance in Sri Lanka get the opportunity. Against this backdrop, the interest-free loan scheme for selected students to enter private universities was introduced in 2017 while you were the prime minister of that administration.
Under this programme, five consecutive student groups are to be enrolled in private universities, however, the students selected by the Ministry of Higher Education to enter nominated private universities for the Academic Year 2021/2022, have not yet been registered.
The anxiously awaiting students are very concerned about this delay as years don’t wait for them and they can’t reverse the damage caused by it on their future,” Weerawansa stated writing a letter to the President on the matter.
“Providing the opportunity of enrollment to such students to private universities under the above interest-free student loan scheme would be a progressive measure because the capital we invest as a nation for tomorrow’s academic and professional excellence of our students would be a meaningful investment for the future.
“About 15,000 students who belong to this aspirant group are told by the Ministry of Higher Education that financial institutions including the Bank of Ceylon are citing the prevailing higher interest rates as a barrier to implementing this scheme as planned earlier. So I kindly request you to pay immediate attention to this matter as the finance minister and take appropriate action to resolve this issue and accelerate the registration process and intake of these students.”
Several students selected to enter private universities under this scheme told The Island that they were told by Higher Education Ministry authorities at a Zoom meeting that the state bank involved in the project is not willing to give out these loans at the previous rates (12%-13%) as current bank interest rates have exceeded 22% per annum. So we got the impression that either the government would have to give a fresh guarantee to the Bank of Ceylon (BOC) on the new interest payments or our parents would have to pay the increased part of the interest. Most of us are from low and middle income levels of the society, and therefore, it would be practically impossible for our parents to bear a significant share of the interest cost.”
According to the Higher Education Ministry’s website, the total interest-free loan period is 12 years. The repayment of the loan should be started after the study period and one-year grace period.
The U.S. Embassy in Colombo welcomed the U.S. Sports Envoys to Sri Lanka, former National Basketball Association (NBA) and Women’s National Basketball Association (WNBA) players Stephen Howard and Astou Ndiaye, from June 8 through 14.
The Public Diplomacy section of the U.S. Embassy said that it would launch a weeklong basketball program intended to harness the unifying power of sports, made possible through collaboration with Foundation of Goodness and IImpact Hoop Lab.
While in Sri Lanka, Howard and Ndiaye, both retired professional basketball players, will conduct a weeklong program, Hoops for Hope: Bridging Borders through Basketball. The Sports Envoys will lead basketball clinics and exhibition matches and engage in leadership sessions in Colombo and Southern Province for youth aged 14-18 from Northern, Uva, Eastern and Western Provinces, offering skills and leadership training both on and off the court. The U.S. Envoys will also share their expertise with the Sri Lanka Basketball Federation, national coaches, and players, furthering the development of basketball in the country. Beyond the clinics, they will collaborate with Sri Lankan schoolchildren to take part in a community service project in the Colombo area.
“We are so proud to welcome Stephen and Astou as our Sports Envoys to Sri Lanka, to build on the strong people-to-people connections between the United States and Sri Lanka,” said U.S. Ambassador Julie Chung. “The lessons that will be shared by our Sports Envoys – communication, teamwork, resilience, inclusion, and conflict resolution – are essential for leadership development, community building, equality, and peace. The U.S. Sports Envoy program is a testament to our belief that sports can be a powerful tool in promoting peace and unity.”
SJB Colombo District MP Mujibur Rahuman in parliament demanded to know from the government the reasons for CEB suspending the leave of all its employees until further notice from Thursday.
MP Rahuman said that the CEB has got an acting General Manager anew and the latter yesterday morning issued a circular suspending leave of all CEB employees with immediate effect until further notice.
“We demand that Minister Kanchana Wijesekera should explain this to the House. This circular was issued while this debate on the new Electricity Amendment Bill was pending. There are many who oppose this Bill. The Minister must tell parliament the reason for the urge to cancel the leave of CEB employees,” the MP said.However, Speaker Mahinda Yapa Abeywardena prevented Minister Wijesekera responding to the query and said that the matter raised by MP Rahuman was not relevant.
The Chartered Institute of Personnel Management (CIPM) successfully concluded the 8th Annual CIPM Symposium, which took place on 31st May 2024. Themed “Nurturing the Human Element—Redefining HRM in a Rapidly Changing World,” the symposium underscored the pivotal role of human resource management (HRM) in today’s dynamic global landscape. Since its inception in 1959, CIPM has been dedicated to advancing the HR profession through education, professional development, and advocacy, solidifying its position as Sri Lanka’s leading professional body for HRM.
Ken Vijayakumar, the President of the CIPM, graced the occasion as the chief guest. The symposium commenced with the welcome address by the Chairperson, Prof. Arosha Adikaram, followed by the Web Launch of the Symposium Proceedings and Abstract Book by the CIPM President. The event featured distinguished addresses, including a speech by Chief Guest Ken Vijayakumar, President of CIPM, and an address by Guest of Honor Shakthi Ranatunga, Chief Operating Officer of MAS Holdings Pvt. Ltd., Sri Lanka.
The symposium also featured an inspiring keynote address by Prof. Mario Fernando, Professor of Management and Director of the Centre for Cross Cultural Management (CCCM) at the University of Wollongong, Australia.
Vote of Thanks of the inauguration session was delivered by Dr. Dillanjani Weeratunga, Symposium Co-chair.
The symposium served as a comprehensive platform for researchers to present their findings across a wide range of critical topics in HRM. These included Cultural Diversity and Inclusion, Talent Development and Retention, Ethical Leadership and Corporate Social Responsibility, Adapting to Technological Advancements, Mental Health and Well-being at Work, Global Workforce Challenges, Employee Empowerment, and Reskilling and Upskilling.
The plenary session was led by Prof. Wasantha Rajapakse. Certificates were awarded to the best paper presenters during the valedictory session, followed by a vote of thanks delivered by Kamani Perera, Manager of Research and Development.
The annual symposium of CIPM was a truly inclusive event, attracting a diverse audience that spanned undergraduates, graduates, working professionals, research scholars and lecturers. This widespread interest highlights the symposium’s significance in the field of HRM, offering a unique opportunity for everyone to network and learn from scholarly brains.The CIPM International Research Symposium was sponsored by Hambantota International Port, Sri Lanka Institute of Information Technology (SLIIT), E B Creasy & Co. PLC, and Print Xcel Company.
US sports envoys to Lanka to champion youth development
Rahuman questions sudden cancellation of leave of CEB employees
