Former Deputy Leader of the United National Party, MP Ravi Karunanayake, has submitted a private member’s motion to Parliament addressing the challenges faced by small and medium-sized entrepreneurs amid ongoing economic difficulties.
Speaking to the media, MP Karunanayake highlighted that despite multiple discussions about the issues affecting these entrepreneurs—exacerbated by the COVID-19 pandemic and recent economic challenges—authorities have failed to provide adequate attention or solutions.
He further pointed out that rising interest rates have increased debt burdens, putting the assets of many small and medium-sized entrepreneurs at risk. He criticized banks for focusing primarily on protecting their loan portfolios rather than supporting borrowers.
MP Karunanayake also noted that while the Central Bank is aware of these problems, discussions have yet to translate into effective solutions.
In light of this, the MP expressed his readiness to present a personal proposal to Parliament aimed at safeguarding the interests of small and medium-sized entrepreneurs.
