Sri Lanka, March 14 -- The Ceylon Chamber of Commerce is deeply concerned about the decision by the Cabinet of Ministers to temporarily suspend the parate execution law.
While we understand that certain businesses essentially in the SME sector need to be supported in the current economic climate, providing that support in the form of curtailing credit recovery measures is not necessarily the best method of supporting these industries.
The Chamber is concerned about the potential impact on the overall financial market as a result of the cancellation of the parate execution law.
The Chamber acknowledges the concerns raised by the Sri Lanka Banks Association (SLBA) regarding the suspension's effect on loan recovery.
This, in turn, could le...