MSME (Micro, Small, and Medium Enterprises) Sector
The SJB was the first political party to recognise the critical situation facing the MSME sector. We have consistently voiced concerns about the sector’s conditions both in and outside of parliament. Furthermore, we facilitated meetings between MSME sector representatives and key international financial institutions, including the Asian Development Bank (ADB), World Bank (WB), European Union (EU), and the International Monetary Fund (IMF), to explore potential support and solutions.
In response to pressure from the SJB, the government suspended the enforcement of the Parate Law until December 15, 2024, providing relief to the MSME sector. Under future governance, we commit to granting a reasonable extension to this suspension. Additionally, we will mandate all state and commercial banks to establish dedicated MSME loan departments. These departments will analyse loan situations on a case-by-case basis. Through Central Bank directives, banks will be instructed to convert existing loans into long-term loans with concessionary interest rates for genuinely affected businesses, ensuring sustainable support for the MSME sector.
Tuk Tuk: We will be providing an interest subsidy facility for the conversion of the three-wheelers with combustion engine to electric engine saving three-wheeler driver’s daily petrol cost. The loan scheme will be administered through the banking system.
National policy on MSME shall be developed via consultation among all stakeholders incorporating all aspects towards creating a thriving sector and also towards achieving the goal of creating significant number of entrepreneurs.
Crafted by Volunteers full of hope for Sri Lanka’s future. The following information is intended solely for general informational purposes related to the Sajith Premadasa Presidential Election Campaign 2024.
