Sri Lankan government to amend laws on debt conciliation boards

July 20, Colombo: The Sri Lankan government is to make changes to the laws on debt conciliation boards in order to make them more efficient.

Justice Minister Rauf Hakeem says that 622 cases were pending at debt conciliation boards by the end of 2010.

Hakeem has told parliament that 322 cases had been settled by the boards while 437 have been resolved outside the conciliation boards.

However, the Minister said that amendments to the existing laws pertaining to the boards would allow judges to sit in these boards.

The laws on debt conciliation boards were introduced over 70 years ago.

Parliament has approved the increase in payments made to members of the debt conciliation boards from Rs. 500 to Rs. 750.

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