“Massacre of the Innocents (Senior Citizens)”
The recent ridiculous reduction of interest rates has come as a shock to all senior citizens. This is more particularly felt with the rising cost of living. However, it appears not to be felt by those responsible who introduce such schemes, for they wine and dine at posh hotels and the use of helicopter transport is what matters.
It is more so ever surprising that the President, who appears to be concerned with the day to day living of the lesser fortunate, appears to be unaware of the problems faced by the middle class citizenry.
I got the shock of my life recently when I went to renew one of my fixed deposits. Earlier I enjoyed a rate of 15 per cent including the one per cent additional for senior citizens, when I was told the rate is now 11.75 per cent for a period of three years. How can we exist with such monies for our daily needs including the ever increasing cost of drugs? Where are all the so called “Advisors” or Consultants ? Should they not advise the President who is the Minister of Finance as well to initiate a separate rate structure for senior citizens over 60 years? I would suggest the following – of course it is not a Lamborghini rate structure:
(a) One year monthly all inclusive rate of 13.50 per cent
(b) 3 years monthly all inclusive rate of 14.75 per cent
(c) 5 years monthly – a rate between 15 per cent and 15.5 per cent.
The maturity rate for senior citizens should be scrapped, as we cannot wait for harvesting what we have invested till maturity and who knows whether we will be alive at the end of the period. Such a scheme is suitable for persons who are not dependent on monthly incomes to cater to their daily needs.
General or Presidential elections are around the corner. Do not let the people think it is an “Election Gundu” by introducing such a scheme just prior to elections. We are not fools any more to fall for such “Gundus!”
Senior Citizen
Talangama South.