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President Mahinda Rajapaksa emphasized the need for the country's stock market to attract local as well as foreign investors. Addressing a meeting with the office bearers of the Brokers Association of the Colombo Stock Exchange held at Temple Trees yesterday, the President pointed out that the present atmosphere with an economic growth of eight percent is the most suitable opportunity to attract investors.
During the meeting, the representatives of the Brokers Association acknowledged that the Colombo Stock Exchange (CSE) immensely benefited after defeat of terrorism, two years ago.
The brokers have met with the President, who as the Finance Minister has the authority to regulate the share market, to suggest measures to boost the slumping market and express their concerns over the tightening of regulations by the Securities and Exchanges Commission (SEC) which they say contribute to the declining bourse this year.
The Colombo bourse climbed over 4 percent from a 14-month low yesterday following the President's meeting with the stock brokers, Reuters reported.
Minister of Economic Development, Basil Rajapaksa, Deputy Minister of Finance and Planning Gethanjana Gunawardena, Secretary to the President Lalith Weeratunga and the Secretary to the Ministry of Finance and Planning Dr. P.B Jayasundara participated in the discussions.
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