It is for the first time that a Rs. 50 billion budgetary allocation has been made for the development of small and medium enterprises, said president of the chamber of SMEs Nawaz Rajabdeen.
He commended the sizeable allocation made by president Ranil Wickremesinghe through budget 2024 to revive and reform micro and small enterprises following the covid-19 pandemic.
This would give a boost for the latest business development initiative by his chamber and help young entrepreneurs at district and divisional secretariat levels, said Rajabdeen.
Additionally, women entrepreneurs could be given low-interest loans, he added.
