Srilanka, Nov. 8 -- The functions of the Industrial Development Board (IDB), National Enterprise Development Authority (NEDA) and Small and Medium Enterprise Development Division (SMED) would be consolidated, under the new budget proposals.
The IDB would oversee the functions.
This was proposed by President Anura Kumara Dissanayake yesterday, during the second hearing of the Budget Speech for 2026, in a bid to ensure more efficient coordination in the development of small and medium-sized enterprises (SMEs).
As such, Rs.4 billion would be allocated to the IDB for this purpose, along with Rs.1 billion more for the establishment and development of industrial zones.
The proposed allocation for the development of SMEs was Rs.55.7 billion,...