President pushes to bring informal sector into fold

Thursday, 8 January 2026 00:26 - - {{hitsCtrl.values.hits}}

President Anura Kumara Dissanayake

Asks officials to develop mechanism for, and encourage, unregistered SMEs to register
Urges officials to step up SME credit scheme for Ditwah-hit businesses

President Anura Kumara Dissanayake yesterday instructed officials to encourage small and medium businesses (SMEs) to register their enterprises while accelerating access to a 3% interest credit scheme for Ditwah-hit businesses.

According to the President’s Media Division (PMD), President Dissanayake hosted the second meeting of the Ministerial Consultative Committee on Finance, Planning and Economic Development of the 10th Parliament, where discussions focused on the implementation of relief and recovery measures with a particular emphasis on supporting affected businesses and restoring economic activity in impacted districts.

The meeting reviewed the loan scheme introduced for SMEs hit by the disaster. The President stressed the need for closer engagement with banks and for an awareness program to ensure that eligible businesses are informed about how to access available credit facilities, noting that gaps in information could limit uptake.

He also stressed the importance of bringing more economic activity into the formal sector, calling for a dedicated mechanism to ensure the registration of businesses that contribute to the national economy. Educating entrepreneurs on the benefits of formal registration, including access to finance and State support, was identified as a priority.

The President said the Government is also considering relief measures for unregistered small and medium-scale entrepreneurs affected by the disaster, with District Secretaries instructed to submit reports on such cases, indicating a flexible approach aimed at preventing viable enterprises from collapsing due to technical non-compliance.

While business recovery remains a central focus, the President said compensation for fully damaged houses and the construction of new homes for affected families will commence from 9 January in Anuradhapura and Kurunegala. He also said instructions have been issued to the Department of Agriculture and the Agrarian Services Department to expedite crop compensation payments based on verified data.

President Dissanayake cautioned that inefficient utilisation of funds allocated for development projects could delay recovery and economic targets. He added that post-disaster interventions should not merely restore livelihoods to pre-disaster levels, but support a transition towards higher productivity and improved living standards.