The Government has issued directives to Chairmen and CEOs of all banks to suspend recovery of loans obtained by the SME sector, the Finance Ministry said.
The Government has taken this decision in a bid to revive SMEs which are burdened with debt not exceeding Rs 300 million.
The government says the recent tax reforms have provided substantial savings to all banks including the Central Bank of Sri Lanka.
It expects the banks to use part of such savings to revive the SME sector on a priority basis.
The directives from the President and the Prime Minister also incorporates redresses to small and medium scale paddy millers as well since the government expects them to re-energise their milling operation to improve the competitiveness in the market.
The government expects their capacities to be active in 2019/20 Maha season
Govt. directs all banks to suspend recovery of SME loans
20 Dec 2019
Govt. directs all banks to suspend recovery of SME loans
20 Dec 2019
The Government has issued directives to Chairmen and CEOs of all banks to suspend recovery of loans obtained by the SME sector, the Finance Ministry said.
The Government has taken this decision in a bid to revive SMEs which are burdened with debt not exceeding Rs 300 million.
The government says the recent tax reforms have provided substantial savings to all banks including the Central Bank of Sri Lanka.
It expects the banks to use part of such savings to revive the SME sector on a priority basis.
The directives from the President and the Prime Minister also incorporates redresses to small and medium scale paddy millers as well since the government expects them to re-energise their milling operation to improve the competitiveness in the market.
The government expects their capacities to be active in 2019/20 Maha season
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Discover Kapruka, the leading online shopping platform in Sri Lanka, where you can conveniently send Gifts and Flowers to your loved ones for any event. Explore a wide range of popular Shopping Categories on Kapruka, including Toys, Groceries, Electronics, Birthday Cakes, Fruits, Chocolates, Automobile, Mother and Baby Products, Clothing, and Fashion. Additionally, Kapruka offers unique online services like Money Remittance, Astrology, Medicine Delivery, and access to over 700 Top Brands. Also If you’re interested in selling with Kapruka, Partner Central by Kapruka is the best solution to start with. Moreover, through Kapruka Global Shop, you can also enjoy the convenience of purchasing products from renowned platforms like Amazon and eBay and have them delivered to Sri Lanka.Send love straight to their heart this Valentine's with our thoughtful gifts!