Friday, 23 February 2024 11:46

Parate action to be suspended to protect SMEs Featured

State Minister of Finance Ranjith Siyambalapitiya announced plans to suspend Parate execution temporarily and revealed that a Cabinet paper outlining it would be presented for approval next week.

The move comes in response to ongoing discussions and concerns regarding the impact of Parate laws on small and medium-sized enterprises (SMEs).

Speaking in Parliament, he said the move is taken to protect the SMEs from the adverse impacts of the ongoing economic crisis.

Siyambalapitiya highlighted that the Government has taken many measures to support the SMEs affected by the economic distress, whilst pointing out that the Central Bank had already issued 15 circulars aimed at providing relief to affected SME

 

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