Rs. 100 m allocation for key industrial and entrepreneurial initiatives

Thursday, 12 June 2025 04:35 - - {{hitsCtrl.values.hits}}

The Cabinet of Ministers at their meeting on Monday approved allocating Rs. 100 million for a series of key initiatives aimed at boosting industrial and entrepreneurial projects.

The move will be supported through the funds earmarked under the 2025 Budgetary provisions for the Sectoral Development Program, spearheaded by multiple State-run institutions.

Among the initiatives receiving funding is a reality show program organised by the Small Business Development Division, the Industry Export Exhibition organised by the Industrial Development Board (IDB), the Pilot Project of Lanka Salusala Ltd., establishing indirect funding for local textile production at subsidised prices, providing working capital to the Lanka Ceramic Combined Board, and purchasing scanner machines to introduce advanced security technology to the Security Checkpoint at Cargo Village maintained by the Export Development Board (EDB) at the Bandaranaike International Airport premises in Katunayake.

Speaking at the weekly post-Cabinet meeting media briefing yesterday, Cabinet Spokesman and Minister Dr. Nalinda Jayatissa said the Government will contribute Rs. 25 million towards the initiative to select the best entrepreneurs in the country of 1,000 shortlisted candidates, while the remaining funds will be raised from the private sector.

He noted that the Small Business Development Division, the IDB, Lanka Salusala Ltd., Sri Lanka Ceramic Corporation, and the EDB will implement these projects by utilising their existing staff, natural resources, machinery, and other physical resources of the Industries and Entrepreneurship Development Ministry.

“The objective is to boost the performance and status of each sector through strategic intervention and the efficient use of available resources, driving industrial progress and entrepreneurial growth in the country,” he added.

The proposal to this effect, submitted by Industries and Entrepreneurship Development Minister Sunil Handunneththi, was approved by the Cabinet of Ministers.

Discover Kapruka, the leading online shopping platform in Sri Lanka, where you can conveniently send Gifts and Flowers to your loved ones for any event including Valentine ’s Day. Explore a wide range of popular Shopping Categories on Kapruka, including Toys, Groceries, Electronics, Birthday Cakes, Fruits, Chocolates, Flower Bouquets, Clothing, Watches, Lingerie, Gift Sets and Jewellery. Also if you’re interested in selling with Kapruka, Partner Central by Kapruka is the best solution to start with. Moreover, through Kapruka Global Shop, you can also enjoy the convenience of purchasing products from renowned platforms like Amazon and eBay and have them delivered to Sri Lanka.