- President Ranil Wickremesinghe addressed the increase in Value Added Tax (VAT) to 18% and the importance of maintaining economic stability.
- He announced his intention to propose loan concessions in the upcoming budget to support small and medium-scale industrialists.
- The National Industry Excellence Awards 2023 recognized and honored 300 successful entrepreneurs across various categories.
- President Wickremesinghe highlighted the challenges faced by industries in 2022, such as power shortages and difficulties in obtaining bank loans.
- He stressed the importance of addressing concerns related to bank loans and market access in the upcoming budget.
- The President revealed ongoing discussions with international financial institutions to revitalize the nation’s economy.
- He emphasized the significance of increasing income to meet loan repayment commitments and gain the trust of creditors.
- President Wickremesinghe explained the necessity of raising the VAT to align with other countries.
- He reaffirmed his commitment to rebuilding the nation without relying on external support.
Source: island.lk
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
