Sri Lanka Equity Forum
Dear Reader,

Registration with the Sri Lanka Equity Forum would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
Sri Lanka Equity Forum

Discussion Forum for Stock Market Investors in Sri Lanka

සිංහල පරිවර්තනය
Submit Post
Submit Post

Latest topics

» MARKET CRASH - GUARANTEED
by samaritan Today at 4:14 pm

» #PM Crisis#
by samaritan Today at 4:10 pm

» News Behind CTCE.N0000 Running?
by Agape Today at 12:07 pm

» ##FUN TOONS###
by ruwan326 Today at 10:35 am

» දුනාමි CSEC කැපිටල් එක 98% ජනශක්ති සමූහය මිලයට ගන්නෙත් BFN ගනුදෙනුව ස්තිරවම වෙන නිසා කියලයි තතු දත්තෝ කියන්නේ
by ruwan326 Today at 9:22 am

» FOR all the BFN/CFVF/JINS Promoters
by ruwan326 Today at 8:25 am

» HDFC is the luckiest bank!
by easthetic Today at 7:47 am

» GOOD COUNTERS AT THE MOMENT
by sanjulanka Today at 6:49 am

» CROSSINGS TODAY
by ruwan326 Yesterday at 8:37 pm

» Daily Foreign Transactions
by ruwan326 Yesterday at 8:35 pm

» CTCE and JINS
by Agape Yesterday at 5:36 pm

» Asia Asset Finance announces Rs. 425 mn IPO
by Chillr_25 Yesterday at 2:48 pm

» SRI LANKA @ 2020
by ruwan326 Yesterday at 1:25 pm

» PLAYERS PICK OF THE DAY
by sheildskye Yesterday at 12:08 pm

» CSE THIS WEEK
by ruwan326 Yesterday at 11:03 am

» @RANFERDI, YAhapalan, In which list are you? Puravesi Lithro List, or Kiriella List or other list
by ruwan326 Yesterday at 10:27 am

» Keep eye on ASIY
by ruwan326 Yesterday at 10:23 am

» BFN ගනු දෙනුව වෙනවා ..
by Equity Suda Yesterday at 9:48 am

» BFN - JINS - UBC - අද මෙම කොටස් හුවමාරු වුනු ප්‍රමාණ සහ ආකාරය බලන්න
by ruwan326 Yesterday at 9:48 am

» Confidence is every part of trading.
by ruwan326 Wed Dec 12, 2018 9:34 pm

» අනං## මනං ##
by ruwan326 Wed Dec 12, 2018 8:46 pm

» DIVIDEND ANNOUNCEMENTS- OCT/NOV
by ruwan326 Wed Dec 12, 2018 8:27 pm

» FOREIGN NEWS
by ruwan326 Wed Dec 12, 2018 8:15 pm

» JINS - BFN DELAS 100% SURE මතකද . ජනශක්ති GENERAL සමාගම වික්ක හැටි - එක පාරටම
by sanjulanka Wed Dec 12, 2018 1:12 pm

» UAL artifically pushed up - beware!
by nosf766 Wed Dec 12, 2018 12:20 pm

» Financial Reports Q-3 2018
by ruwan326 Wed Dec 12, 2018 9:09 am

» රැවටෙන්න එපා ..විකුන්නන එපා ..ණයට ගන්න එපා .BFN - JINS එකතු කරන්නා හෙට දිනනනවා
by sanjulanka Wed Dec 12, 2018 8:09 am

» NDB declared ‘Bank of the Year’ by The Banker, UK
by ruwan326 Tue Dec 11, 2018 8:41 am

» NDB wins Banking Sector National Business Excellence Award 2018
by MarketWch Mon Dec 10, 2018 5:33 pm

» Market will RISE expecting a MR Led new government
by samaritan Mon Dec 10, 2018 1:52 pm

You are not connected. Please login or register

Sri Lanka Equity Forum » Stock Market Talk » 162 SMEs closed down or facing bankruptcy during 3 year UNP Govt

162 SMEs closed down or facing bankruptcy during 3 year UNP Govt

Go down  Message [Page 1 of 1]

DS Wijesinghe


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Sunday Times :- At least 162 Small and Medium Enterprises (SMEs) have struggled over the past two to three years owing to a deteriorating economic situation in the country and financial hardship of the people who have restricted their buying spree, an independent study conducted by a public interest group revealed.
According to data collected by the Peoples Action Front (PAF), 62 of these businesses have closed down and 100 were on the verge of collapse or facing bankruptcy, amidst financial difficulties, high interest rates, the need of collateral, and other restrictions on bank and finance company loans.
The appeals of the affected SME sector made to government authorities for relief from their financial burden were unheeded, Chairman of the SME Committee of PAF, Sanjay Perera told the Business Times.
SMEs have collapsed because they have mortgaged their prime assets as collateral to banks to obtain loans and cannot pay back these loans as a result of increasing losses, he pointed out.
A record number of small businesses faced downsizing or closure throughout 2017, as sluggish demand and rising operating costs battered the SME sector, he said.
At least 25 per cent of small businesses are now expecting to scale down or stop trading, with retailers among the badly affected, he said adding that some retail shop owners manage the business on their own without employing a single person due to economic difficulties.
At the Viharamahadevi Park in Colombo, the PAF recently launched a campaign of collecting 100,000 signatures from the people for a petition to be presented to the President, the Prime Minister, Finance Minister and the Minister of Industry and Commerce urging them to find some redress for the affected SMEs, by making them eligible for the Enterprise Sri Lanka Loan scheme.
General Secretary of the PAF Suresh Karunathilake noted that these loans are being given to graduates to start businesses and other existing entrepreneurs but not for failed SMEs.
The Government expects to disburse Rs. 60 billion through state and private banks to would-be entrepreneurs. Another Rs. 5.25 billion has been set aside by the Treasury to reimburse the interest subsidy to the banks

Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum