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15 August, 2012 07:57 AM Source: News360.lk
Cabels.jpg

A Sri Lankan Cable manufacturer says the local cable manufactures have not been given a level playing field to have access to key government projects.

The Chairman of the listed ACL Cables PLC, U. G. Madanayake says this is despite repeated attempts by them to convince the government to extend a level playing field with regard to the participation and supply of cables and conductors to large scale projects of the government including the CEB.

“We have had only limited success to date” Madanayake added in the firm’s latest annual report.

According to him, continued discrimination against the local cable manufacturers at every stage of tendering and supply continues to frustrate them.

Apart from the above discrimination, Madanayake points out that high interest rates due to increased borrowing by the Government and highly restricted granting of credit to deserving customers will have a negative impact on the buying powers of the people. More...

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