The appeal follows the impending expiration of the temporary relief provided by the suspension of parate execution, which is set to end on December 15, placing many MSMEs in a precarious situation.

Ceylon Federation of MSMEs President Mahendra Perera urged the government to offer relief by “waiving the accumulated interest on loans taken between 2019 and 2024”, to support the distressed businesses.

“They should be provided with long-term repayment options at a low interest rate of no more than 10 percent. Additionally, limits should be set, so that the total interest paid does not exceed 50 percent of the original loan amount,” he said during a briefing in Colombo yesterday.