Any slowdown in borrowing results in a breakdown of the intermediary role played by banks in a competitive economy. IPS also asked whether entrepreneurs were going to the proper forum to finance a new project, saying that using commercial banks to finance projects that should be financed through development banks was a common feature. It said entrepreneurs should be encouraged to personally handle the sale of their property rather than allow the bank to auction it. More often, the entrepreneur will be able to obtain the best price for the collateral, the report said while suggesting changes to the debt recovery law to make it more effective. The Ceylon Chamber of Commerce will shortly sign a memorandum of understanding with the Education Ministry offering its support in the development of English and information technology in schools, officials said.
E is a term generally referred to any electronic information.
Salieh, also CEO of NDB Housing, told reporters last week that the MoU will create a steering committee of government and private sector representatives which would then prepare a document for implementation after consultation with various concerned groups. He said the chamber has been actively lobbying for extra resources to be channelled into English and IT education. He was hopeful that the future education curriculum would link schools and universities with the rest of the world. The MoU would reinforce the government's current educational reforms which has a major IT input but with limited resources and infrastructure development. In a running battle between multinational Pfizer and local firm Harcourts Pvt Ltd over the sale of a controversial aphrodisiac, the latter has claimed victory and re-launched its product.