Cabraal assures brokers

Government committed to investor friendly climate

by Channa Kasturisinghe

Senior officials of stock broker companies yesterday expressed confidence in the government's commitment to ensure an investor friendly climate in the country. Expressing views following their meeting with Ajith Nivard Cabraal, Advisor to President Mahinda Rajapakse and Secretary of the Ministry of Plan Implementation yesterday they said that their optimistic about the government's efforts to bring peace and its plans to develop the capital market.

"He gave us the assurance that the Government will not initiate any action to disturb peace and would have a close dialogue with the investor community in carrying out its economic plans," Dimuthu Abesekara, Director/CEO of Asha Phillip Securities Ltd., told the Daily News.

The CEO's of all the leading stock brokers attended

yesterday's meeting and voiced their concern over the issues that could affect investor confidence and long term economic prospects. The meeting was convened by the Securities and Exchange Commission (SEC).

Mr. Cabraal told the Daily News that the Government is keen on developing the capital market and it is very receptive to the needs on the investor community. "However, the President is also keen on extending that development to the rural areas. For that we need the support of the private sector," Cabraal said.

He said that he made the Government's stand clear as far as privatisation of state institutions is concerned. "We have taken a clear policy decision on this issue and we are not definitely for privatisation," he said.

The Director of a leading broker company said that he was confident of Cabraal's assurance that the Government will make State institutions more profitable by ensuring proper management.