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The Sri Lanka Government has urged stock market stakeholders to jointly work together to prop the bourse up and come up with short, medium and long term proposals to stimulate the share market,
Brokers said these comments were made by Treasury Secretary, Dr P.B. Jayasundera in his second meeting with the industry on Tuesday.
Brokers said that it is likely these proposals would be made in conjunction with the upcoming November national budget. The Securities and Exchange Commission (SEC) and the Colombo Stock Exchange (CSE) along with stock brokers met Dr, Jayasundera this evening at 6.15 pm.
A stock broker said the Treasury Secretary pointed out that there should be a balance in regulating the share market, adding that 'all' should do their bit to change the perceptions about this industry. The meeting was attended by officials of the SEC, CSE, the Colombo Stock Brokers Association, two high net-worth investors - Harry Jayawardene and Nimal Perera, and K. Vignarajah who campaigns on behalf of independent minority shareholders.
Dr. Jayasundera was quoted as saying that 'all' must help the new breed of entrepreneurs to come up. "He was talking about the new set of high net-worth investors," the broker said.
The brokers had voiced concerns over the Expropriation Bill, but Dr. Jayasundera had said that owners of the firms which are taken over by by the statel will be paid compensation. Dr. Jayasundere is expected to issue a press release pertaining to what was discussed at this meeting this week, the broker said.
He had also advised those at the forum not to discuss the SEC's ongoing investigations.
Many brokers were happy with the meeting and said that it was a win-win situation, but some others said that nothing tangible came out of it. "He tried to make the brokers feel good, but nothing really came out of it," another broker said. (DEC)
http://sundaytimes.lk/index.php?option=com_content&view=article&id=22446:sl-govt-seeks-short-long-term-solutions-to-prop-colombo-bourse&catid=77:news&Itemid=563
Brokers said these comments were made by Treasury Secretary, Dr P.B. Jayasundera in his second meeting with the industry on Tuesday.
Brokers said that it is likely these proposals would be made in conjunction with the upcoming November national budget. The Securities and Exchange Commission (SEC) and the Colombo Stock Exchange (CSE) along with stock brokers met Dr, Jayasundera this evening at 6.15 pm.
A stock broker said the Treasury Secretary pointed out that there should be a balance in regulating the share market, adding that 'all' should do their bit to change the perceptions about this industry. The meeting was attended by officials of the SEC, CSE, the Colombo Stock Brokers Association, two high net-worth investors - Harry Jayawardene and Nimal Perera, and K. Vignarajah who campaigns on behalf of independent minority shareholders.
Dr. Jayasundera was quoted as saying that 'all' must help the new breed of entrepreneurs to come up. "He was talking about the new set of high net-worth investors," the broker said.
The brokers had voiced concerns over the Expropriation Bill, but Dr. Jayasundera had said that owners of the firms which are taken over by by the statel will be paid compensation. Dr. Jayasundere is expected to issue a press release pertaining to what was discussed at this meeting this week, the broker said.
He had also advised those at the forum not to discuss the SEC's ongoing investigations.
Many brokers were happy with the meeting and said that it was a win-win situation, but some others said that nothing tangible came out of it. "He tried to make the brokers feel good, but nothing really came out of it," another broker said. (DEC)
http://sundaytimes.lk/index.php?option=com_content&view=article&id=22446:sl-govt-seeks-short-long-term-solutions-to-prop-colombo-bourse&catid=77:news&Itemid=563
