Monday Dec 08, 2025
Monday Dec 08, 2025
Monday, 8 December 2025 04:59 - - {{hitsCtrl.values.hits}}
A joint program by the Finance Ministry and the banking sector to provide loan facilities for new entrepreneurs is scheduled for launch in January next year, Industry and Entrepreneurship Development Minister Sunil Handunneththi told Parliament’s Ministerial Consultative Committee recently.
The Minister said Rs. 80 billion allocated in the Budget 2026 for entrepreneurial lending will be channelled through this program to ensure more effective and targeted distribution of funds.
It was noted that ahead of the rollout, a detailed briefing will be conducted in January for MPs outlining eligible sectors, operational procedures, and the mechanisms for applicants to access the loans.
Handunneththi also announced the establishment of a National Database for Industrialists, designed to consolidate information on all industrial stakeholders under one system.
Ministry officials said a nationwide promotional campaign will encourage entrepreneurs to register, enabling easier access to Government services, support schemes, and industry-related facilitation.
The Committee also discussed extending collateral-free loan facilities to craftsmen registered with the National Crafts Council, with several members highlighting its potential to expand the country’s craft sector and support micro-level industry revival.
Officials from the National Paper Company Ltd., briefed the committee on improvements at the State-run paper mill. Following corrective measures taken in recent months, the mill has increased monthly output substantially from a previous 150-180 tons to 400 tons, marking a significant turnaround in production capacity.
The Minister also presented details of a newly developed National Advisory Framework for issuing excavation permits. Aimed at replacing the current fragmented and inconsistent system, the framework seeks to introduce uniform guidelines and a streamlined approval process. It is also expected to be implemented in January.
Deputy Chairperson of Committees Hemali Weerasekara, Ministers, Deputy Ministers, MPs, and senior officials of the Industry and Entrepreneurship Development Ministry were present at the meeting.
