Acquisition bill only for 37 assets-President

The controversial expropriation bill aimed at acquiring former state and private assets that are underperforming or underutilized is for the purpose of 37 companies only, Sri Lankan President Mahinda Rajapaksa said on Saturday, allaying fears that this could be used for other companies too.
 
He gave this assurance to representatives of key chamber groups during a meeting in Colombo, to discuss the bill which has been roundly criticized by opposition parties and sections of the public. There were fears that the bill would extend to other enterprises too.
A statement issued by the Ceylon Chamber of Commerce after the meeting in which the President was joined by senior cabinet ministers and officials, said the chambers were assured that this is a one-off bill.
It was told that the bill was purely to revive 37 underperforming enterprises and underutilized assets; that the government proposes to revive these enterprises or assets through the private sector; and that the present holders of these enterprises or assets will be given the opportunity to submit proposals to the government to revive their respective enterprises or assets.
 
“The business chambers will continue to remain engaged with the government to ensure that the assurances are met,” it said.
The chambers represented were the Federations of Chambers of Commerce and Industry of Sri Lanka (FCCISL), National Chambers of Commerce of Sri Lanka (NCCSL), National Chamber of Exporters (NCE), Chamber Of Young Lankan Entrepreneurs (COYLE), Joint Appeal Association Forum (JAFF), Free Trade Zone Manufactures Association (FTZMA) and the Ceylon Chamber of Commerce. – Ends-