Women’s Chamber of Industry and Commerce welcomes Budget 2015

Thursday, 30 October 2014 00:30 - - {{hitsCtrl.values.hits}}

By Ruzaik Farook The Women’s Chamber of Industry and Commerce (WCIC) is in full praise of the Budget 2015 as it has recognised the needs of Sri Lankan women entrepreneurs. WCIC President Rifa Mustapha commended the Budget as a balanced and all-encompassing one. She said that the Budget had provided a vision for the future.

Welcoming the measures announced in the Budget to further extend the Regional Development Bank’s (RDB) Women Enterprise Credit Scheme (WECS) facility which is implemented this year to provide working 40 capital loans up to Rs. 250,000 without requiring any security to 25 women entrepreneurs from each divisional secretary area under the coordination of the Child Development and Women’s Affairs Ministry, to 25 women entrepreneurs each year, during 2015 -17, Mustapha said that the budget had looked into all aspects of the economy and welfare of the people from top to bottom. The new facility will be received by those who have successfully developed their businesses through the Divi Neguma initiative or on their own strength. The Industrial Development Board and Export Development Board will provide technical and marketing assistance for their development. However Mustapha said, “I welcome the Budget-2015 as an unprecedented Budget in Sri Lankan history providing benefits and relief to all levels of society. It encapsulates the work they have done during the past ten years.” She also said that there could be no better Budget where the women entrepreneur sector was concerned. WCIC President explained that Sri Lankan women enjoy equal rights, privileges and opportunities to a large extent in every sphere in society mainly due to the achievement of a high literacy rate and evolving liberal and democratic traditions of the country. Women constitute 52% of the Sri Lankan population and their contribution to socio-economic development is invaluable, she said. Mustapha also welcomed the proposal to implement a pension scheme for employees in the apparel industry as a large number of women in the country are working in the industry. She said that it was a good move to improve job attraction and security, adding that the second largest foreign exchange earning source was the export of apparel products and it constitutes 60% women workers. “The women entrepreneurship can contribute to a country’s development process in number of ways. At an individual level, it creates employment opportunities for women,” she noted. Mustapha finally thanked President Mahinda Rajapaksa for providing numerous support to women entrepreneurs in the country through the newly presented Budget 2015. The women in the country were immensely benefited by the Budget proposals, she added.