Enterprise Sri Lanka to strengthen local entrepreneurs: President

Jun 25, 2018 (LBO) – Sri Lanka’s President Maithripala Sirisena says as we introduce Credit Programmes for entrepreneurs, a joint programme implemented by all the relevant institutions is also needed in a similar manner, to offer a good market and reasonable price for their produce as well as measures to prevent importation of those products into the country.

He made these remarks participating in the launching ceremony of the ‘Enterprise Sri Lanka Credit Programme’ held at the BMICH, yesterday (22).

Speaking at the event, President Sirisena said that every developed country in the world became self-sufficient by taking steps to develop the local industries.

The President said that even though the country needs the latest knowledge, technology and consultancy from foreign countries we should place trust on the strength and experience of the local entrepreneurs and the highest level of support that could be given to them by the government including financial and non-financial facilities is essential.

He also pointed out the importance of state banks functioning with the aim of providing services while making profits.

President Sirisena explained the importance of regularly reviewing of these investments while giving the knowledge and guidance required for entrepreneurs.

The Government presented the “Enterprise Sri Lanka” programme in the Budget speech last November, to create a new entrepreneur class, recalling our history as a trading and a commercial hub in the ancient times. The Government expects to disburse Rs. 60,000 million through state and private banks to would-be entrepreneurs and another Rs. 5,250 million has been set aside by the Treasury to reimburse the interest subsidy to the banks.

Under this scheme 15 different loan schemes have been proposed for young entrepreneurs in the fields of agriculture, fisheries and small and medium enterprises. This scheme includes journalists and those who are self-employed as well.

The President symbolically handed over loans to the recipients.

Prime Minister Ranil Wickramesinghe, Finance Minister Mangala Samaraweera, Ministers and MPs, Secretary to the Ministry of Mass Media, the Governor of the Central Bank and others participated in this event.