Mahinda minds stock market woes

Friday, 22 June 2012 03:00 - - {{hitsCtrl.values.hits}}

The lingering woes of the Colombo stock market, which until last month had lost Rs. 400 billion in value, have drawn the concern of the country’s Chief Executive, the Daily FT learns.

Prior to taking off to Cuba and Brazil, the current situation of the Colombo Bourse, the world’s best performer not so long ago but reeling with continuous negative return since 2010, had been discussed at a top level meeting. This discussion included the Securities and Exchange Commission (SEC) Chairman Tilak Karunaratne, Treasury Secretary Dr. P.B. Jayasundera, Central Bank Governor Nivard Cabraal and former Attorney General Mohan Peiris.

Some officials refused to divulge specifics saying it was a private meeting where many issues were discussed. Others said stock market figured very much during the discussion.