Once the new Inland Revenue Bill is passed it would create a stable environment for any investor to invest in the Colombo Stock Exchange without fear or doubt, State Minister for Finance Eran Wickramaratne said.
” We are discussing with all stake holders to iron out differences and to take their views into consideration in shaping the Bill,,Wickrmaratne said at a media conference at the Finance Ministry yesterday..
At present local investors are being sidelined in the CSE because of the clarity issue in the new Bill.But once it is passed in parliament next month it would create some stability and business confidence in the CSE investors, the state minister said.
However local investors in the CSE are adopting a wait and see approach at present. Therefore, the market indicated some sluggishness yesterday as the day’s turnover touched Rs. 517 million and both indices, ie, the All Share Price Index went down by 12.85 points and S and P SL20 by 16 67 points.