Government promotes entrepreneurship at village level, says Bogollagama

The Government has taken several steps to promote entrepreneurship at village level, said Advanced Technology and National Enterprise Development Minister Rohitha Bogollagama.

Addressing a ceremony at the EDB auditorium in Colombo on Tuesday to distribute loans to over 80 SMEs from all parts of the island, the Minister said during the UNP regime only a handful of businessmen got financial support from the government.

"The President along with the Prime Minister has provided the SME Bank with a capital of Rs. 5 billion to provide support for Small and Medium Entrepreneurs. The responsibility of setting up the bank was entrusted to me," he said.

"Within nine months we were able to establish the Bank and commence disbursing 10,000 loans to the SMEs starting from Anuradhapura," the Minister said. Loans were distributed in Matara, Kegalle, Ampara, Hambantota and Kurunegala.

"We are looking at your strength and ability. We will help you to become entrepreneurs by providing finance to improve your investment capabilities," the Minister said. Bogollagama said the Prime Minister has identified the need to provide support entrepreneurship at village level.

"That is why he organised programmes such as Ruhunu Aruna, Kandurata Aruna, Rajarata Aruna and Sirilaka Aruna to find markets for your products," he told SMEs.

"The SME Authority to be set up with the objective of supporting the small and medium sector has been approved by the Cabinet and will start operations once the Bill is passed in Parliament. The SME sector which was neglected has been recognised by the Government. We have a vision to develop the SME sector,"the Minister said.

Bogollagama said the UNP Government was not prepared to carry out proposals put forward by him as the Minister of Industries and were rejected by the people. "You must select the path to proceed", he said.

"Within the first six months we are providing loans to 10,000 small companies. This is the difference between the UNP and us," the Minister said. Opposition Leader Ranil Wickremesinghe in his manifesto has not given due recognition to the small and medium sector, the Minister said.

Deputy Minister Hussein A. Bhaila, Minister Secretary Lal Kumara Gamage, EDB Chairman Brian Angunawela and SME Bank CEO U. H. Palihakkara were also present.