There has been a significant development in the foreign employment trade since June 1995 and migrant workers have remitted more than Rs. 376 Billion worth of foreign exchange during this period.
Approximately 853,000 Sri Lankan workers are currently employed overseas and migrant workers remitted a record sum of Rs. 87,697 million to the government reserves last year.
Due to the decrease in the percentage of employees leaving the country in 1998, the government introduced incentives to motivate migrant workers. Accordingly, Rs. 47.9 million worth of loans were granted to 292 persons between the period 1998 to 2001. The Sri Lanka Bureau of Foreign Employment (SLBFE) also paid out of its funds, 8% of the total interest of 24%.
The SLBFE reported that under the implementation of the ‘Suraksha’ Insurance Scheme from 1995 to October, 2001 about 29,591 migrant workers had been paid compensation worth nearly Rs. 398 million. During the same period, Rs. 1.25 million has been paid to the families of 125 Sri Lankan workers who lost their lives while employed overseas.
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