Sunil Bholah, the Minister of Good Governance, has clarified certain issues that culminated from the presentation of the budget 2015-2016.
The Minister of Financial Services, Good Governance and Institutional Reforms, Sunil Bholah, made an announcement on Radio Plus yesterday, 26th of March, explaining the role of the “Development Bank” (Banque de Développement [DBM]).
After the Minister of Finance, Vishnu Lutchmeenaraidoo, mentioned the creation of an SME Bank – bank for small and medium enterprises – when making the budget 2015/2016 speech on the 23rd of March, confusion arose as to the relevance of the DBM. Minister Suni Bholah has thus deemed it appropriate to clarify the pertinence of the DBM now. He has affirmed that the SME Bank will not interfere with DBM’s position. Rather, the new bank will involve the financing of the SMEs only, while the DBM will still take care of its usual affairs.
Sunil Bholah also talked of the Small and Medium Enterprise Development Authority (Smeda) which will undergo some changes. For instance, the SMEDA will now operate as a one-stop-shop for the SMEs. Its office will be located at the Sicom Tower at Ebene.
The SMEDA will thus have a more important role to play. It will be responsible for the giving away of permits to facilitate the task of entrepreneurs. Furthermore, the procedures entailed in the grant of licences will be simplified to avoid difficulties for businessmen. To cater for these modifications, the existing personnel of the SMEDA will be trained so that they can implement the new methods and competent employees will also be recruited to achieve the aims of the ministry.