Nov 15 (Reuters) - Sri Lankan shares closed lower for second straight session on Tuesday dragged by industrial companies, while investors stayed wary after the country's central bank Governor P. Nandalal Weerasinghe and Treasury secretary Mahinda Siriwardana held a news conference to discuss the 2023 budget proposals laid out on Monday.

* At the close of trade, the CSE All-Share index fell 0.86% to 8,291.15, weighed by losses in industrial stocks.

* At the conference earlier in the day, Weerasinghe said Sri Lanka needs to implement budget proposals and reform measures to start earning crucial foreign exchange to help stabilise its economy and ensure it does not return to crisis.

* "We expect relief from creditors but in order to convince them to share the pain we also have to show them that we are taking a share in the pain as well," he added.

* He reiterated the need for Sri Lanka to reform its loss-making state-owned enterprises so they stop being a burden on the banks, the government and the people.

* Treasury secretary Siriwardana said government was setting up a presidential committee to monitor and ensure timely implementation of budget proposals.

* On the CSE All-Share index on Tuesday, conglomerates Expolanka Holdings PLC and Richard Pieris & Company PLC were the top drags, falling 3.7% and 13.9%, respectively.

* Trading volume on the CSE All-Share index rose to 62 million shares from about 43.5 million in the previous session.

* The equity market's turnover was 1.58 billion Sri Lankan rupees ($4.35 million), compared with 941.1 million rupees in the previous session, according to exchange data.

* Foreign investors were net buyers in the equity market, purchasing stocks worth 156.6 million rupees, while domestic investors were net sellers, offloading shares worth 1.57 billion rupees, data showed.

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($1 = 363.0000 Sri Lankan rupees) (Reporting by Ashish Chandra in Bengaluru; Editing by Dhanya Ann Thoppil)