Sajith Premadasa urges further support for SMEs

Wednesday, 4 December 2024 00:28 -     - {{hitsCtrl.values.hits}}

 


 

  • Commends Govt. for considering extending stay on parate executions for SMEs
  • Stresses extension alone is insufficient and urges Govt. to provide affordable working capital to SMEs
  • Suggests partial debt relief for SMEs, including wiping out a portion of debts or waiving interest on outstanding loans
Opposition leader 

Sajith Premadasa

Opposition leader Sajith Premadasa has praised the Government’s move to consider extending the stay on parate executions to support Small and Medium Enterprises (SMEs), with the current stay set to expire on 15 December. 

Speaking in Parliament yesterday, Premadasa, however, stressed that an extension alone would be insufficient and called for additional measures to help struggling businesses recover. Premadasa urged the Government to offer affordable working capital to SMEs and establish mechanisms to assist those unable to resume operations. “They must be provided with working capital at a cost they can afford,” he said.

He also recommended that the Government explore partial debt relief for SMEs, suggesting either wiping out a portion of their debts or, at the very least, waiving the interest on outstanding loans.

In addition to SME-related issues, Premadasa raised concerns about the International Monetary Fund (IMF) agreement signed by the previous Government. While acknowledging the necessity of adhering to the IMF program’s framework, he urged the Government to negotiate with the IMF to remove provisions he deemed harmful to the public.

Citing a speech by President Anura Kumara Dissanayake, Premadasa said, “The President himself has stressed the importance of understanding the ground reality.” He tabled the speech in Parliament, highlighting the President’s concerns over the IMF agreement.

“We point out that certain aspects of the IMF program harm the people. We are ready to assist the Government if it takes action on this issue,” Premadasa concluded, expressing the Opposition’s willingness to collaborate on alleviating public burdens.

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