NO BRITISH AID FOR BUS NATIONALIZATION
18th October 1957, Page 50
18th October 1957
Page 50
Page 50, 18th October 1957
— NO BRITISH AID FOR BUS NATIONALIZATION
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MO financial assistance will be pro vided by the British Government to help Ceylon's scheme for nationalization of bus services. Ceylon hadsought a government to government . grant or loan of about £74m. to enable the new transport board to finance its capital equipment and other programmes.
The British response is that Ceylon should try to raise the money on theLondon capital market on its own credit. On the subject of special credit for new buses, Britain has replied that it is a matter for the manufacturers and the Ceylon Government to reach some form of agreement.