News

Govt. launches loan schemes to support struggling SMEs

Published

11 months 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

03 vehicles collide at railway crossing

Published

25 minutes ago

May 21, 2025

editor

03 vehicles have collided at the Merawala railway crossing on the Chilaw-Colombo main road.

The accident occurred at around 6.25 a.m. this morning (May 21) when a van, which had stopped behind a fuel bowser at the Chilaw Marawala railway crossing while it was closed for train traffic, was rear-ended by a prime mover transporting cement.

The prime mover had been unable to stop due to brake failure.

The van involved in the accident sustained significant damage and Chilaw Police are currently conducting further investigations.

(Pic: Accident 1st)

News

Ramith Rambukwella arrives before CIABOC

Published

36 minutes ago

May 21, 2025

editor

Ramith Rambukwella – son of former Minister Keheliya Rambukwella arrived at the Commission to Investigate Allegations of Bribery or Corruption (CIABOC) earlier today (May 21) to record a statement.

Colombo Chief Magistrate Thanuja Lakmali yesterday (May 20) ordered the further remand of Keheliya Rambukwella until June 03, following his arrest by the CIABOC over 03 complaints related to alleged corruption.

The court also granted permission to name Ramith Rambukwella as a suspect in the case.

News

Mahindananda seeks permission for home cooked meals

Published

47 minutes ago

May 21, 2025

editor

Former Minister Mahindananda Aluthgamage, who is currently in remand custody, has submitted a written request to prison authorities seeking permission to receive food from his home.

He is currently being held at the “M 2” ward of the Colombo Remand Prison along with around 10 other prisoners, according to reports.

It is also reported that former minister Keheliya Rambukwella is being detained in the same ward.