Business seeks grace period on loans, low interest rates
Some chambers have sent a letter to the President and the Prime Minister requesting a grace period to pay business loans and lower interest rates on them if possible, officials said.
Still reeling from the aftermath of the Easter terror attacks, companies are bracing themselves for tough times. Aminda Rodrigo, Chairman COYLE told the Business Times that his chamber is one of the co-signatories to a letter sent to the two leaders requesting for concessions. "In the letter we have requested the President and the Prime Minister to instruct the Central Bank which in turn will instruct the banks to reduce the loan interest on our businesses."
The April 25 letter said: “The economic situation in the country in the past 12 months, which was severely exacerbated by the Easter Sunday terrorist, attacks on April 21 has affected all industries throughout the island. Since the aforementioned attack,