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* For the first time next year’s budget allocates Rs. 50 bn for MSMEs
Tue, Nov 14, 2023, 10:38 am SL Time, ColomboPage News Desk, Sri Lanka.

Nov 14, Colombo: Mr. Nawaz Rajabdeen, Chairman of the Confederation of Micro, Small and Medium Industries (COSMI) said that for the first time in history, a huge sum of 50 billion rupees was allocated from the national budget for the development of the small and medium enterprise sector.

The Chairman said that he is happy that the present President as the Minister of Finance has given in this year's budget a large amount that was not ever given by any government for the development of small and medium enterprises.

He also said that the members of the Chamber of Commerce express their appreciation to the government for allocating a large sum of money to revive and restructure the country's micro and small businesses, which are recovering after the Covid-19 epidemic.

He also emphasized that the allocated money should provide strength to the program of helping to develop the latest businesses started by his Chamber of Commerce.

In addition, he suggested that funds should be provided to young entrepreneurs to start new businesses at the district level and divisional secretariat level with the money allocated from the budget.

In addition, Mr. Rajabdeen also said that he requests to take action to provide low interest loans to women entrepreneurs to start businesses.

 

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