Rs. 350 million credit package to develop rice mills

The Ministry of Advanced Technology and National Enterprise Development has made arrangements to assist the modernisation of rice mills throughout the island with a credit package of Rs. 350 million on concessionary terms from the S.M.E. Bank.

The national ceremony to launch the programme was held in Nikaweratiya recently. Around 75 entrepreneurs received loans from the SME Bank on this day.

Addressing the gathering Minister Bogollagama said that although during the UNP regime only a sum of Rs. 30 million was allocated to develop SME's the UPFA Government from its first Budget invested Rs. 5,000 million to the SME Bank while Rs. 15,000 million is available through Japanese aid to develop SME's of the country.

The Minister further said that the SME Authority Bill will be presented to the Parliament soon. In order to promote the SME's through the SME Authority 700 from the provinces will be recruited.

We will set up a S.M.E. Centre in every district, the Minister said. Officials with entrepreneurial skills will serve in these centers to provide necessary support and advise to the S.M.E's. Support to Rice Millers are to be provided in the areas of Advanced Technology use, storage etc., the Minister said.

"When I was the Minister of Industries in the UNP Government I tried to do this but funds were not available. UNP's policies are not decided by Ministers voted to office by the public but advisers from countries such as Norway and the USA. I had to beg for money.

The Finance Minister allocated only Rs. 30 Million. I was able to find Rs. 25 million and complete the Nikeweratiya Industrial Complex with an investment of Rs. 55 million. The allocation was not enough even to complete one project in an electorate, said the Minister.

The President of the All Island Rice Millers and Stockists Association D.G.S Somasiri said that paddy processing is the second largest area in the agriculture sector.

There were several requests to treat this as a separate sector. The Government and conventional Banks never agreed to do that.We are happy that there is a change with the establishment of the SME Bank. The Bank has now recognized us. We are very much grateful to Minister Rohitha Bogollagama for recognising us, he said.

Cheques to the value of Rs. 35 million were distributed by the Minister to loan recipients while school books and other educational equipment were also distributed to the schools in the area during the ceremony.