Govt. to set up Development Finance Corporation

2018-06-27 14:34:32

By Yohan Perera
A Cabinet paper to establish a Development Finance Corporation (DFC) is being prepared by the Finance and Mass Media Ministry, Prime Minister Ranil Wickremesinghe said yesterday.

The Prime Minister said this at the Sri Lanka Institute of Directors (SLID) Annual General Meeting held in Colombo last evening.

“We want to start up a Development Finance Corporation, and the Finance Ministry is preparing the necessary Cabinet papers. The stakeholders of this will be the Central Bank, two State banks and some of other Sri Lankan banks”, the Prime Minister said. 

He said the government is to release a sum of Rs.10 billion for the stakeholders even before the DFC 
is formed. 

“Let’s see how many of you would utilize this development fund,” he told the SLID members who were in attendance. 

The Prime Minister also promised that the government would shortly introduce radical reforms in regulations in order to ensure ease of business. 

“Minister of Development Strategies and International Trade Malik Samarawickrama and State Minister Harsha de Silva are preparing these new ease of doing business solutions. Some of the existing regulations will have to be removed, but it will take some time,” he said.



  Comments - 0

Add comment

Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.
Name is required

Email is required
Comment cannot be empty

Unicef And Wow.Lk Launch The Gift That Gives Back To Children

Wednesday, 12 December 2018 10:50

The United Nations Children’s Fund (UNICEF) and leading online retail destination have

International Construction Consortium Expands Condo Developemnt from Nilaveli to Galle.

Wednesday, 12 December 2018 09:17

2016 saw the birth of Oceanfront Condominiums, the brainchild of Mr. Harsha De Saram, Chairman and c

Who’s coming?

Wednesday, 12 December 2018 09:05

This hoarding in the center of the busy Thunmulla Junction is getting a lot of attention for its mes

More News