FCCISL Entrepreneur of the Year urges President to lower interest rates

Samantha Kumarasinghe, Chairman, Multichemi Group - makers of Nature Secret cosmetics who was adjudged the Entrepreneur of the Year 2007 organised by the Federation of Chambers of Commerce and Industry of Sri Lanka (FCCISL,) made a courtesy call on President Mahinda Rajapakse at Temple Trees.

Mr Kumarasinghe was accompanied by President, FCCISL, Kosala Wickramanayake.
President Rajapaksa said he was happy that Mr Kumarasinghe was adjudged the FCCISL Entrepreneur of the Year, and expressed his appreciation of the contribution made by Mr Kumarasinghe’s Nature Secret products, to the country’s industry and to the economy.

He said that Mr Kumarasinghe’s efforts in promoting Nature Secret brands locally and internationally, should be emulated by other Sri Lankan entrepreneurs too, so that the country could benefit from the revenue that their products brought in.

Mr Kumarasinghe, said that the current rates of interest for obtaining loans in Sri Lanka were very high, and pointed out that they impeded further development of industry and businesses. He also said that as the country’s inflation was coming down, interest rates too should also be scaled down. He urged the President to instruct the Finance Ministry to intervene in this matter.

President Rajapaksa assured that he would look into the matter and see what possibilities are open to accommodate such relief.

The President also expressed his deep appreciation of the tremendous work done by the FCCISL, especially in assisting the Micro, Small and Medium scale entrepreneurs. He assured all possible assistance to FCCISL to develop the SME sector, and told the FCCISL President, Mr Wickramanayaka to work closely with the government agencies in promoting export, industrial and entrepreneurships in this respect.

Tissa Jayaweera, Senior Vice President, FCCISL, Kumar Mallimaratchi, Vice President, FCCISL and Ajith Wathuhewa Board Member, FCCISL were also present in the delegation that met President Rajapaksa.