Connect with us

BIZ

Loans at 7% for ailing industries

Published

on

Secretary to the Ministry of Industries Shantha Weerasinghe said that the seven percent concessionary interest rate loans will be given from this week to those who are unable to maintain their industries and businesses due to various reasons including the Covid-19 pandemic.

He said that this loan scheme, which will be launched by the Ministry of Finance and the Ministry of Industries, is called ‘Re-Energise’.

The Secretary said that any small and medium-scale industry or business that has collapsed or is unable to be maintained will be encouraged to obtain the loan and restore their business.

The special feature of this loan scheme is that people who are blacklisted (CRIB) too could get the loans. Loans up to Rs. 5 million can be obtained under the scheme and settled in five years with a grace period of six months.

Loans will be given on personal guarantees up to Rs. 200,000 and a property collateral must be submitted for loans above that amount.

The final work on the loan scheme was completed last Wednesday and these loans will be provided through 10 State and private banks.

These loans can be applied for through the Regional Development Bank, People’s Bank, Bank of Ceylon, Sampath Bank, Seylan Bank, Commercial Bank, Cargills Bank, Sanasa Development Bank, Hatton National Bank and Nations Trust Bank.

Another aspect of this scheme is that loans up to Rs.15 million can be applied for investment purposes. For that too, the interest rate is seven percent and the repayment period is 10 years with a grace period of one year.

(sundayobserver.lk)

(This story, originally published by sundayobserver.lk has not been edited by SLM staff)

BIZ

No justification for coconut oil price hike – Coconut Development Authority

Published

on

By

The Coconut Development Authority has stated that there is no valid reason for a price increase of coconut oil in the local market.

CDA chairman – Prof. Roshan Perera has emphasized that there has been no tax hike on imported coconut oil.
Given the sufficient supply of coconut oil for domestic consumption, Prof. Perera asserted that any price increase is unjustifiable.

Additionally, a new regulatory program is being planned to control and stabilize coconut oil prices in the market, he added.

Related News :

Continue Reading

BIZ

Coconut oil price upped

Published

on

By

The price of a litre of coconut oil has been increased by more than Rs. 100, the National Consumer Front (NCF) has said.

NCF Chairman Asela Sampath said that the price of a litre of coconut oil has been increased by between Rs. 180 and Rs. 200. 

Accordingly, the current retail price of a coconut oil litre is Rs. 550.

Continue Reading

BIZ

Registration compulsory for all money changers 

Published

on

By

The Central Bank has issued a notice making it compulsory for all money exchange institutions to be registered with the Central Bank and regulated by it. 

The CB order is in effect from 3 June 2024. 

The Central Bank states that all money changers who are currently not registered will now receive the opportunity to provide such services in a systematic and regulated manner. 

Continue Reading

Trending

Copyright © 2024 Sri Lanka Mirror. All Rights Reserved