People’s Leasing offers ‘Hithamithuru’ financial relief scheme for private bus owners

People’s Bank and People’s Leasing & Finance Chairman Sujeewa Rajapakse (fourth from left), People’s Leasing & Finance CEO/GM Shamindra Marcelline (third from right) and the senior management of People’s Leasing & Finance at the launch of ‘Hithamithuru’ financial relief scheme

People’s Leasing & Finance PLC recently launched the ‘Hithamithuru’ financial relief scheme. ‘Hithamithuru’ was introduced as the company’s contribution towards the national need to restore the private passenger transportation service that was adversely affected due to the pandemic. 

People’s Leasing started its business operations in 1996 providing leasing solutions for the improvement of private passenger transportation of the country enabling a comfortable private passenger transport service to the public. However, due to the prevailing pandemic situation, most of the private passenger transport owners are financially distressed as they were not able to operate their buses for months. 

In the above context, People’s Leasing launched ‘Hithamithuru’ financial relief scheme to provide relief for the pandemic affected private passenger transport owned customers of the company. 

“The ‘Hithamithuru’ scheme is offered as a payment deferral program with concessionary interest rates. As we mark the 25th milestone of our corporate journey, it is our unique way of strengthening the financially-distressed private passenger transport owned customers. We also consider it as our true corporate social responsibility towards uplifting private passenger transport owners,” stated People’s Leasing Chief Executive Officer/General Manager Shamindra Marcelline. 

“Due to the COVID-19 preparedness measures imposed, private passenger transport owned customers are badly affected. The various private passenger transport owners associations repeatedly requested for some financial relief and payment deferrals. ‘Hithamithuru’ is our customised response to their concerns. It offers a payment deferral period of six to 12 months. Customers are also provided the privilege to continue their rental payments at the previous repayment rate after their relief payment period,” said Deputy General Manager – Recoveries and Administration Damith Malavithanthila. 

The ‘Hithamithuru’ financial relief scheme offers benefits such as concessionary interest rate of 4%-6%, A relief payment period of six to 12 months, provision for the customers to continue their rental payments at the previous repayment rate after the relief payment period, hassle free quality service by a dedicated centralised team, simple and minimal documentation, one day service and no additional charges.

Representing the sentiments of the members of the private passenger transport owners associations including the Lanka Private Bus Owners Association, Podu Jana Private Bus Professionals Association, Inter Provincial Private Bus Association and Southern Province Bus Investors Association, the members voiced their appreciation for the ‘Hithamithuru’ financial relief scheme.