Low interest loan scheme for industrialists

Ridma DISSANAYAKE

A loan scheme will be introduced under a low interest rate for small and medium scale industries in the construction field.

Minister Weerawansa

Accordingly industrialists have the opportunity to take loans under an interest rate of nine percent, said Construction, Engineering Services, Housing and Common Amenities Minister Wimal Weerawansa.

The minister was speaking at the opening ceremony of the Construct 2011 exhibition organized by the Sri Lanka National Construction Association for the 11th time at BMICH. It was held under the patronage of President Mahinda Rajapaksa.

This loan scheme is timely and it will greatly support small and medium scale construction industrialists to fulfill their needs, he added.

"Sri Lanka has begun a massive development drive after the war against terrorism which affected development during the past three decades. Sri Lanka had received much attention from a large number of foreign countries especially China for investments," the minister said.

In addition, the ministry plans to develop the Institute for Construction Training and Development (ICTAD) as an authority and it will support in contributing to the development of the construction field.

The assistance given by the government by reducing taxes should be appreciated and it will be a great support to the progress of the construction field, said National Construction Association chairman Priyantha Perera addressing the occasion.