Local News: Prime Minister Mahinda Rajapaksa says that the small and medium scale enterprise sector has become the backbone of the country.
The Prime Minister said this while participating in the Small and Medium Enterprise Development Conference 2020 today. The conference was held at the Magam-Ruhunupura International Conference Center, Hambantota.
Speaking during the event the Prime Minister said the government was able to meet working capital requirements and loan guarantees by introducing loans at concessionary interest rates, to uplift small and medium scale businesses that were impacted due to the COVID-19 pandemic, within a short period of time.
Prime Minister Rajapaksa said he was pleased to have been able to allocate Rs.100 billion to uplift businesses negatively impacted by the COVID-19 pandemic, with the support of the Central Bank of Sri Lanka, under the Ministry of Finance.
COVID-19 Small and Medium Enterprise Proposal was handed over to Prime Minister Rajapaksa by Prof. Lakshman R. Watawala, Chairman of the Institute of Certified Management Accountants and Coordinator of the Small and Medium Enterprise Development Committee.
The proposal includes the establishment of a credit guarantee agency for small and medium enterprises, the provision of income tax relief, the amendment of labor laws and the establishment of an institution for export.
Ministers Chamal Rajapaksa, Wimal Weerawansa, Mahinda Amaraweera, State Ministers Ajith Nivard Cabraal, DV Chanaka and Member of Parliament Dr. Upul Galappaththi were also present on the occasion. More News