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Article: Ceramic Industry Urges Government Reforms
- Article from:
- Daily Mirror
- Article date:
- December 9, 2008
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Report from Daily Mirror brought to you by HT Syndication.
Colombo, Dec. 9 -- In the light of the global recession and the diminishing the demand for porcelain, Sri Lanka Ceramics Council insisted on the depreciation of the Rupee and also requested the Government to reduce the rate of interest. The Council also emphasized on further extensions of the GSP+ in order to survive the significant downfall in the industry.
Leading brands such as Dankotuwa Ceramics and Noritake insisted on the Government taking an initiative to restructure their loans to cater to a longer period of repayment. A restructuring of Term Loans for at least 5 years was suggested.
Major ceramic companies also requested ...