Digitalization, SME support & new insurance schemes highlighted in pre-budget talks with banking sector

A pre-budget discussion on the Banking, Finance and Insurance Sector was held at the Presidential Secretariat, chaired by the Minister of Labour and Deputy Minister of Economic Development, Dr. Anil Jayantha Fernando.

The discussions focused extensively on the support that the banking sector can provide to the government’s programme, led by the President, to achieve the country’s economic growth targets. 

Representatives also presented their views and proposals in this regard, according to the President’s Media Division (PMD).

Special emphasis was placed on enhancing efficiency in the banking and financial sector through digitalization, expanding programmes targeting small and medium-sized enterprises and introducing new insurance schemes.

Minister of Labour and Deputy Minister of Economic Development, Dr. Anil Jayantha Fernando noted that these proposals will receive due consideration in the upcoming budget, the PMD said.

It was further highlighted that this was the first time stakeholders from the insurance sector had been invited to a pre-budget discussion and the participants expressed their appreciation to the government for extending the invitation.

Senior Presidential Advisor on Economic Affairs Duminda Hulangamuwa, Chairman of the Sri Lanka Export Development Board Mangala Wijesinghe, officials from the Ministry of Finance and several senior officials representing the banking, finance and insurance sector also took part in the discussion.

--PMD--