The government has approved Rs. 95 billion in concessionary interest loans for 2026, marking the highest allocation of its kind in Sri Lanka’s history, according to Deputy Minister of Industry and Entrepreneurship Development Chathuranga Abeysinghe.

In a statement, the Deputy Minister revealed that Rs. 25 billion of the total allocation had been earmarked to support the expansion of small and medium-scale enterprises (SMEs), covering businesses with an annual turnover of up to Rs. 1 billion.

He stated that the scheme caters to a wide range of businesses, from micro-enterprises with an annual turnover below Rs. 20 million to medium-scale enterprises with a turnover of up to Rs. 1 billion.

According to Abeysinghe, 2,569 beneficiaries had qualified for concessionary loans by August 2026, describing the progress as a significant achievement for the programme.

Providing a breakdown of the loan distribution, the Deputy Minister said small enterprises had received Rs. 16 billion from the Rs. 25 billion allocation, including Rs. 5.7 billion obtained by micro-enterprises.

Meanwhile, medium-scale businesses with an annual turnover exceeding Rs. 350 million but below Rs. 1 billion had received Rs. 3.7 billion, distributed among 169 enterprises.

Addressing concerns that concessionary loans were being directed mainly towards larger businesses or disproportionately allocated to certain provinces, Abeysinghe said the programme is reviewed monthly by himself, the Secretary to the Ministry of Finance and the Ministry’s Department of Development Finance.

He noted that the regional distribution of loans broadly reflected the country’s GDP distribution, adding that greater regional balance could be achieved by developing stronger businesses across different parts of the country.

The Deputy Minister further highlighted that the 2,569 beneficiaries who obtained concessionary loans would not be eligible to receive further concessionary financing under the scheme for the next three years, creating opportunities for new applicants.

He urged aspiring borrowers to establish formal, financially stable businesses and maintain trustworthy relationships with banks, stressing that entrepreneurs must take responsibility for their financial records and Credit Information Bureau (CRIB) scores.

Abeysinghe also advised business owners to pay greater attention to their equity capital and maintain monthly records of income, expenditure, assets and liabilities to improve their eligibility for bank financing.

He added that entrepreneurs could obtain the necessary technical assistance from the Ministry of Industries to prepare their businesses for loan applications. (Newswire)

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The three‑month fuel concession plan introduced by the government will conclude at the end of June, with a fresh decision to be taken based on the prevailing situation at that time, Deputy Minister of Finance Anil Jayantha Fernando said.

Speaking during a televised interview, he explained that the plan was designed for three months, during which officials monitored global price hikes, their impact on local pricing, and the burden on the public. 

“These concessions will end at the end of three months. But, after three months, if we face an unexpected situation, we are prepared to face it and collect the necessary funds,” Fernando noted.

The Deputy Minister revealed that as of June 8, revenue collection had exceeded targets, reaching 120%.  “As such we have the opportunity to face and manage certain unexpected situations,” he added.

Fernando further said that while the current concession will lapse at the end of June, the government remains prepared to respond to unforeseen developments, with decisions on future relief to be taken in line with the circumstances at the time. (Newswire)

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President Anura Kumara Dissanayake says the government has introduced a new relief package, taking into consideration the impact of the ongoing Middle East conflict on Sri Lanka. 

Addressing the Parliament today (07), President Dissanayake said attention was focused on three main aspects, which are fuel, energy, and gas.

Speaking on the fuel concession, the President said that the fuel cost will be calculated on 1 May or a closer date, and based on that actual cost, Rs. 100 per litre of diesel and Rs. 20 per litre of petrol will be provided as a subsidy. 

He added that the government will bear an expense of Rs. 20 billion per month for this purpose, with Rs. 60 billion allocated for the three-month plan.

Super diesel and super petrol will be provided based on the current market price, he said.

President Anura Kumara Dissanayake went on to note that Rs. 100 billion has been allocated for the economic relief package.

Giving further details on the economic relief package, he said a subsidy of Rs. 50 per litre of fuel for three months will be granted for single-day fishing boats, capped at 25 litres per day for up to 25 days per month.

He further said that a lump sum allowance of Rs. 150,000 will be paid to multi-day fishing vessels.

Announcing details of concessions for fertilizer, the President said the Rs.25,000 fertiliser subsidy granted for paddy has been increased to Rs. 30,000.

He further said that the Rs. 15,000 subsidy for additional crops has been increased to Rs. 18,000. 

Announcing the special relief package related to the Aswesuma allowance, President Dissanayake said that the allowance will be increased for the month of April.

He revealed that the Rs. 17,500 allowance has been increased to Rs. 25,000, the Rs. 10,000 allowance to Rs. 15,000, and the Rs. 5,000 allowance to Rs. 7,500. 

Stating that the economic relief package has been prepared for the next three months, the President said the future course of action will have to be determined in line with global affairs. 

Watch the President’s speech: https://www.youtube.com/watch?v=cWm2NgMzUp0 (Newswire)

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The Sri Lanka Bureau of Foreign Employment (SLBFE) has announced various concessions for migrant workers registered with the SLBFE who are returning to Sri Lanka.

According to a SLBFE notice, the concessions are as follows; 

• If you are an aspiring entrepreneur or already have a business, assistance up to Rs. 1 million to be provided. 
• Those aspiring for self-employment or are already self-employed are to be provided with non-financial assistance of up to Rs. 150,000. 
• A grant to develop and promote an already successful Business/industry. 
• A one-time donation of stationery worth Rs. 10,000 if your child is completing their full education at a public, private, or religious school.
• If you’re a migrant worker who earned less than US$ 300 and returned to the country, and your child is studying at a public, private university or higher education institute, education tools up to Rs. 200,000 to be provided. (Newswire)

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The government has commenced a pledge loan scheme under a concessionary interest rate for Small and Medium-scale (SME) Paddy Millers and Cooperative Societies for purchasing paddy in the 2024/2025 Maha Season, to maintain a reasonable price for farmers.

According to a statement from the Department of Development Finance of the Ministry of Finance, the implementation period of the concessionary loan scheme is 03 January to 15 May 2025. 

The target Group of this loan scheme is Small and Medium-scale (SME) paddy millers and Cooperative Societies, subject to the maximum daily paddy milling capacity of 25MT per day. 

Under this loan scheme, all borrowers can obtain loans at an interest rate of 7% per annum with an amount of Rs.50 million and the respective loan should be repaid within 180 days. 

The total value of the loans to be disbursed by the Banks is Rs. 10,000 million under this loan scheme.

It has also been planned to purchase paddy at a Minimum Purchase Price (MPP) declared by the Department of Agriculture to ensure a reasonable price for paddy harvest by farmers. (Newswire)

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