Tea factory owners are to receive many concessions

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Co-cabinet Spokesperson: Minister Ramesh Pathirana said, discussions will be held with the Central Bank to grant concessions to tea factory owners who are debt ridden. Thereby, steps will be taken to look into the possibility of writing-off 20 to 30 per cent of their debt, whilst granting a concessionary period for the repayment of their loans. If action has been taken to auction properties, the relevant legal framework will be arranged – in negotiations with the banks – to delay the auctioning process, by another year.
A concessionary loan scheme will be introduced for tea factory owners, to obtain upto 500 million rupees, through banks, from the Sri Lanka Tea Development Promotional Fund.

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2020-Jul-03 | 05:07

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