President calls for lower interest rates

President Mahinda Rajapaksa yesterday called for the interest rates to be further brought down in the wake of the various incentives granted by the Government to stimulate the economy and that this benefit should be passed onto small and medium scale investors as well as directly to the public.

He was addressing a delegation from the Central Bank as well as representatives from both the State and Private Banks at Temple Trees.

The President stated that although the country was waging war with the most ruthless terrorist outfit in the world the Government was able to ensure a stable economy.

Under such circumstances they should not be deceived by false propaganda being spread by certain politicians but to perform their duties with more dedication.

He said that although certain individuals are spreading various stories for political gain there has been no decline in the flow of financial aid to the country from abroad adding that steps should be taken to ensure stability in the exchange rate.

He also asked the Banks to be more keen in lending towards agriculture and exports and that these loans be processed expeditiously without delay.

Ministers Dr. Sarath Amunugama, Ranjith Siyambalapitiya, Senior Presidential Advisor Basil Rajapaksa MP, Secretary to the President Lalith Weeratunga, Central Bank Governor Ajith Nivard Cabral and Secretary to the Treasury Sumith Abeysinghe were also present.