Sri Lanka needs more women entrepreneurs since the number of women entrepreneurs in Sri Lanka is small compared to many other countries, said President Wickremesinghe.
“As Sri Lanka’s population consists of 52% females, there should be a large number of women entrepreneurs who can certainly help to develop the economy. The Chambers should look at this aspect,” he said.
President Wickremesinghe was speaking at the ‘Pratibha Abhisheka 2022’ ceremony at the Kingsbury Hotel last week to evaluate women entrepreneurs of the Women’s Chamber of Industry and Commerce (WCIC).
He said that the largest number of entrepreneurs who are not recognised in Sri Lanka are the moneylenders.
“There are a large number of women moneylenders, and in some areas, they are the people who dominate. The Government, too, is interested in looking at all the micro-enterprises, run not only by women but also by men.
President Wickremesinghe said that he will look into the possibility of a moratorium for loans to protect businesses and provide relief to business people. The Governor of the Central Bank had been informed to look into this matter while protecting the Banks.
“This is the hardest part. We cannot live like this forever. Even though we live with hardships, we must move forward quickly. Inflation is a problem that every business has to face. If we continue with these decisions, we can reduce inflation. Bank interest can be reduced. If hard decisions are not taken, inflation will increase,” the President said.
The President said, “We are working to secure IMF assistance as soon as possible. The countries that have given us loans have already stated their willingness to assist us.”
India’s Foreign Minister will arrive in Sri Lanka next week. India is in debt restructuring discussions. The government will receive $ 2.5 billion from the IMF. “After that, we can get nearly 5 billion dollars from the World Bank and the Asian Development Bank. The total will be $7.5 billion. Adding the $3 billion from the restructuring of unprofitable government agencies will add up to $10 billion, which will enable the economy to recover and bring the country out of this suffering.”
“I am sure that there will be a way out of this grief this year. To do all this we have to suffer. We can rebuild all of this. I believe we can. Then we should think about new businesses and give opportunities to new businesses that can compete in the world market. If we do that, we will have the ability to rebuild the economy,” he said.