Forum organized by Arjuna Mahendran focuses on IMF reforms and its impact on businesses

Forum organized by Arjuna Mahendran focuses on IMF reforms and its impact on businesses

Forum organized by Arjuna Mahendran focuses on IMF reforms and its impact on businesses

Written by Staff Writer

19 May, 2016 | 7:15 am

A Forum organized by the Governor of the Central Bank Arjuna Mahnedran was held at the BMICH on Tuesday, May 17. The Forum focused on the greenlight given by the IMF for reforms and its impact on businesses, exchange rates, exports and investors.

Governor of CBSL, Arjuna Mahendran stated that the Colombo Port hasnt been a success because the opportunity to grow as a huge trading metropolis was diverted to Hambanthota even after the war.

He added that the Government sector has a bad attitude since they dont allow private industries to take advantage of the two ports.

He went on to note that the bunkery can be done easily by private operators as there are at least 5 Singaporian bunkering operators who wants to do bunkering business in Hambanthota, but license hasnt been given by the ports authority.

Explaining further he added that he is in discussion with the President, Prime Minister, Finance Minister in order to abolish the exchange control act which is a colonial piece of registration and replace it with more logical set of not controls but not guidelines. Thereby they will not allow people to willingly sell their property and take their money out of the country at once which will create a balance of payment crisis.

In addition he added that he is hell bent on passing the legislature,than later.

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