Sri Lanka, March 3 -- The local chambers hailed the government's move to suspend parate execution or the auctioning of assets of small and medium and other companies until the end of the year.

All Parate Executions have been suspended until December 15, 2024, as per a Cabinet decision made on February 26 and the banks' practice of acquiring properties of whose loans are yet to be paid off will be suspended until December 15, 2024.

The proposal was made by President Ranil Wickremesinghe, in his capacity as the Minister of Finance'

Chairman of the Ceylon National Chamber of Industries (CNCI) Kevin Edwards said that this will give the much needed breathing space for industrialists who were in dire financial issues due to blows suffered fr...