'Challenge of economic development looms ahead'

Ridma DISSANAYAKE

"Terrorism had denied the people's right to live in the past three decades and the people had no freedom to earn a livelihood freely. They did not have freedom to even live with their families. Businessmen in Pettah were a group affected by terrorism," said Economic Development Deputy Minister Lakshman Yapa Abeywardena.

"Sri Lanka has today won the challenge of restoring peace and harmony. There is another challenge Sri Lanka is faced with. This is the challenge of economic development. The Economic Development Ministry has launched a large number of programmes to face these challenges in a successful manner under the inspection of President Mahinda Rajapaksa and guidance of Economic Development Minister Basil Rajapaksa," Abeywardena said.

The deputy minister was addressing the inauguration ceremony of the scheme to provide low interest daily loans for the self-employed at the Federation of Self-Employees (FOSE) market premises yesterday. They distributed Rs.15 million among 50 self-employees at FOSE market. Each businessman received Rs 300,000 under a low interest rate of one percent per month.

"This has been initiated according to the Mahinda Chinthana Future Vision. The government has allocated around Rs.300 million to grant daily loans to the self-employed in collaboration with Bank of Ceylon," he said.

"The President has given an ideal solution to pavement hawkers by establishing market complexes for them. He has taken several steps to strengthen the self-employed community as well," said FOSE chairman Mahinda Kahandagama.

"All measures are in place to distribute another 150 mini lorries among the self-employed next week. Arrangements have been made to build over 800 stalls in the Manning Market as well," he added.