Protest March against Micro Finance Loans, with excessive interests

A protest march was held in Jaffna against the Micro Finance loans with excessive interest, which exploit rural labour. This march was held under the aegis of Jaffna District Cooperative community. The March commenced in front of the Weerasingam hall, proceeded through Kandy road, to reach District Secretariat where a memoranda were handed over to the District Secretary N.Vethanayagan and the Governor.

Needs of the people have increased. Unemployment, inadequate wages, and rise in prices have made difficult to meet them. The micro finance concept has penetrated using this and make people debtors. Because of this, suicide, family breakups, family disputes and violence are on the increase. Awareness should be created among the people regarding these Micro finance loans.

The March was held to draw attention insisting that these loan schemes must be operated through Cooperatives without causing hindrance to people.

More than 500 persons including, the employees of the Cooperatives in the town, representatives of public Organizations and social enthusiasts and public participated in this march.