News

Govt. launches loan schemes to support struggling SMEs

Published

7 days ago

June 24, 2024

editor

The Government has introduced four new loan schemes totaling Rs. 20,000 million to support micro, small, and medium-scale industries and businesses.

The initiative, aimed at revitalizing collapsed sectors, was announced by Industries and Health Minister Dr. Ramesh Pathirana during a conference organized by the Ceylon Federation of MSME at BMICH in Colombo.

These credit facilities will be offered at low interest rates and with simple conditions, in a program jointly organized by the Finance Ministry and the Industries Ministry.

Sixteen leading banks in Sri Lanka will implement two of the schemes.

One scheme allows manufacturing and industrial enterprises with fewer than 200 employees to obtain loans up to Rs. 15 million at a 7% interest rate, repayable over ten years with a one-year grace period.

Another scheme offers loans up to Rs. 5 million to small and medium entrepreneurs approved by the Sri Lanka Credit Information Bureau, at an 8% interest rate, with a five-year repayment period and a three-year grace period.

Additionally, the Ministry of Industries has launched two schemes for small and medium farmers. One scheme, named “Smile,” offers Rs. 30 million for environmentally-friendly projects at a 6.5% interest rate, with a ten-year repayment period and a two-year grace period.

News

Fuel prices reduced from tonight

Published

2 hours ago

June 30, 2024

editor

The Ceylon Petroleum Corporation (CPC) has reduced its fuel prices with effect from tonight.

Accordingly, a litre of Lanka Petrol 92 Octane Euro 4 (Rs. 355) has been reduce by Rs. 11, and its new retail price will be Rs. 344

A litre of Lanka Petrol 95 Octane Euro 4 (Rs. 420) has been reduce by Rs. 41, and its new retail price will be Rs. 379.

A litre of Lanka Auto Diesel (Rs.377) has been reduce by Rs.22, and its new retail price will be Rs.355.

However, there is no price change for a litre of Lanka Super Diesel 4 Star Euro 4 (Rs. 317) and a litre of Lanka Kerosene (Rs. 202).

News

Speaker to present JSC response to Justice Minister’s statement in Parliament

Published

2 hours ago

June 30, 2024

editor

In a letter to Speaker Mahinda Yapa Abeywardena, the Judicial Service Commission (JSC) has responded to the recent statement made by Minister of Justice, Prisons Affairs and Constitutional Reforms Dr. Wijeyadasa Rajapakshe, against the judiciary.

The JSC said it has a conducted an observation into the Minister’s statement.

The documents tabled by the Justice Minister during his parliamentary speech have been forwarded by the Justice Ministry to the JSC.

The JSA observations have been communicated in a letter signed by Chief Justice Jayantha Jayasuriya in his capacity as the President of the JSC and JSC members Justice Vijith Malalgoda and Justice Gamini Amarasekara.

The speaker confirmed this to News 1st today and said he had recieved the observation by the JSC.

Speaker Mahinda Yapa Abeywardena said it would be tabled in Parliament on July 9.

In a statement on June 24, the Judicial Service Association said that it observed a specific effort to discredit impartial judges, is unfolding in parts.

The Judicial Service Association points out that one of the steps in the discrediting effort is to create ideologies that will cause personal discredit to the judges who have taken important decisions for the well-being of the judicial system after they are transferred.

The Judicial Service Association serves as the premier professional organization for District Judges and Magistrates in Sri Lanka.

(newsfirst.lk)
(Except for the headline, this story, originally published by newsfirst.lk has not been edited by SLM staff)