Prime Minister orders an investigation into CSE power failure


Mar 24, 2016 (LBO) – Sri Lanka’s Prime Minister has ordered an investigation into the sudden power failure reported recently at the Colombo Stock Exchange.

“Every stock exchange should have back-up power to operate. Today foreign investors asked us how they invest in a market where there is no power to operate,” Premier Ranil Wickremesinghe said.

“That is our biggest issue now. They are more concerned on that; not on our proposed taxes (Capital Gains Tax). This tax is even there in London.”

A power outage resulted in a temporary trading halt of 17 minutes at CSE on 16 March 2016 and the trading was halted at 9.58 am in the morning and restored at 10.15 am.

However, the CSE said trading and all other operations at the CSE have continued for the rest of the day with no interruption.