Look into possibility of reducing cement, steel prices

President Gotabaya Rajapaksa has directed relevant officials to look into the feasibility of bringing down prices of cement and steel, in order to reduce the construction cost in the country, the President’s Media Division said.

The President said this during a discussion held with the State Ministry of Finance and Capital Markets and Public Enterprise Reforms with regard to its future activities, at the Presidential Secretariat on Wednesday.

President Rajapaksa highlighted the need of identifying investment opportunities and improving infrastructure facilities along with the necessary prior approvals.

It was discussed at the meeting to establish an office for pioneering foreign investors, in the heart of Colombo the PMD said.

The President noted the significance of State institutions reaching out to village areas and bank loan accessibility for small scale and medium scale entrepreneurs that would ensure rapid development in the country.

He also advised the officials to take steps to compensate the investors who had invested in bankrupt finance companies.

He further instructed them to ascertain the assets of these finance companies and compensate depositors accordingly.