Interest free vehicle loans for journalists
The proposal made by President Mahinda Rajapaksa through budget –
2012 to implement a relief loan scheme for senior journalists, artistes
and authors to purchase motor vehicles and to form a fund for their
welfare is being implemented, states a Finance and Planning Ministry
Accordingly, senior journalists, artistes and authors are now able to
obtain a maximum of Rs. 1,200,000 as an interest free loan from the
state banks to purchase cars or vans.
If the value of the vehicle exceeds the limit of Rs. 1,200,000 the
balance can be obtained from the relevant State bank under normal
interest rates. The relevant instructions and the approval have already
been granted by the Treasury to the Mass media and Information Ministry
Secretary to grant vehicle loans to the journalists and form a welfare
fund for them under the first phase of the loan scheme.
Accordingly, measures will be taken by the Mass Media and Information
Ministry to call for applications and make aware the journalists within
next few days. Concessions will be granted to the artistes and authors
under the second phase of this scheme and the Culture and the Arts
Ministry will coordinate this effort.