Bill needs urgent amendments to proper serve its purpose

Much controversy has arisen in the business community, local and foreign over the controversial Bill titled, ‘The Revival of Underperforming Enterprises and Underutilised Assets Act,’ which would be presented on 7 November as an urgent bill in Parliament.  

The bill intends certain so-called “underperforming enterprise” and “underutilised assets” specified as such in schedules I and II of the Bill are to be vested in the Secretary to the Treasury on behalf of the government of Sri Lanka forthwith the Bill is passed by Parliament.