Saubagya Loan Scheme 2021

The loan scheme for eight multi-purpose societies selected under the Government’s Saubagya Loan Scheme was launched on 13 February 2021 at the Vavuniya District Secretariat Conference Hall at 9 am.

Hon. Governor of Northern Province Mrs. PSM Charles participated as a guest in this event. In her address, the Governor said that for the first time in history, a large amount of money has been released to multi-purpose co-operative societies at very low-interest rates to purchase paddy. In past,  many multi-purpose co-operative societies did not show any interest to purchase paddy.

More than 15 rice mills in the Northern Province are permanently shut down. Especially, the largest rice mills in the Cheddikulam and Nedunkerny areas, have also been closed. The Governor brought this information to the attention of the Hon. Minister of Trade. The Minister immediately responded and assured that he would visit the mills and would take necessary actions.

As per the objectives of the President and the Ministry of Commerce to further develop the co-operative sector and meet the needs of the people, at the first phase, Rs. 20 million loan for the co-operative sector has been released.

The Multipurpose Co-operative Societies, which are in the stalled position should follow the business strategies proposed by the Minister of Commerce and the Minister of Diplomacy, should reach a better position. She requested relevant authorities to take the necessary steps to sell the 28 essential items at a controlled price through Sathosa and Coop Cities within 3 months. She also said that quality products should be made available to people at reasonable prices.

Minister of Trade Hon. Bandula Gunawardana, State Minister of Co-operative Services, Marketing Development, and Consumer Protection Hon. Lasantha Alagiyawanna, Additional Secretary of the Ministry, Govt. Agent of the Vavuniya District, Chairmen of Cooperative and Rural Societies, and other relevant officials also participated in this event.