The National Construction Association of Sri Lanka (NCASL) has called on the President to extend the suspension of the Parate Law and provide relief to the business sector. 

Addressing the media, Chairman of the NCASL, Susantha Liyanaarachchi, said that the Parate Law comes into effect at midnight on 30th June. 

He further said that, as such, the power to seize property will be back in the hands of banks. 

“The business category consists of over 50 million people. When banks are approached regarding the Parate Law and properties, they do not help or grant any relief. The Central Bank also sends circulars stating that the banks have the authority to make decisions,” he said. 

Stating that, at present, such circulars are not effective, Susantha Liyanaarachchi said that, currently, a proper directive is needed from the Central Bank Governor in this regard.

Accordingly, Susantha Liyanaarachchi urged the President to intervene and provide relief to the business sector. (Newswire)

The post Parate Law : Business community urges President’s intervention appeared first on Newswire.