by Chamitha Kuruppu

Finance Minister K. N. Choksy yesterday attributed the bull run at the Colombo Stock Exchange (CSE) to a reiteration of the confidence the private sector reposes in the Government. During a special gathering held at the CSE yesterday to celebrate the Bourse's All Share Price Index (ASPI) reaching 1000 points - the second time that the price index has risen to over one thousand, Choksy said that earlier this month the international community passed a massive vote of confidence towards the Government's peace process and economic reforms and today another important sector the business and investor community has reiterated that confidence. 

He said that the ASPI stood only at 500 points when the UNF government took office and 18 months , the government has been able to double the figure. The CSE has performed well during last year and also described as one of the best stock exchanges in this part of the world, the Minister said. The Minister hailed the decision of linking up the CSE with foreign countries and said setting up a branch of the CSE in the North is an innovation most welcome. "This innovation is welcome because it gives investors outside the metropolis an opportunity to deal directly with the exchange,". The Governments economic policy is to get private sector involvement in business and for the Government to stay away from business and develop the rural economy. 

Therefore, setting up CSE branches in the outstation will contribute towards the Governments economic policies. The Role of the CSE will help to develop the economy," the Minister said. Chairman, Colombo Stock Exchange, Eraj Wijesinghe said that the changes that have taken place in the country with the Government taking office has put the country in a better position and investors have fully endorsed and stamped their approval of the improvements that have taken place in the country. He said the CSE will soon commence international links with stock exchanges in other countries and discussions are on with Singapore and India at present.