UNP expects Govt. to withdraw Bill

The main Opposition UNP yesterday expressed confidence that the Government would be forced to withdraw the contentious takeover Bill as pressure was mounting against its ill effects.

At yesterdays UNP Parliamentary Group Meeting, the Revival Of Underperforming Enterprises and Underutilised Assets Bill came under discussion as it will be tabled on Wednesday.

UNP MP and party’s spokesman on economic affairs Dr. Harsha de Silva said there was wide agreement that the UNP should oppose the “Expropriation Bill” in principle as it would not be conducive for private sector-led development strategy of the Government whilst it also goes against principles of market economy.



“However at the meeting there was also agreement that if enterprises that have got land for specified purposes but are no longer operational the Government should have recourse for such specified assets for productive use based on exact and clearly defined criteria which, however, are absent in the proposed Bill,” Dr. De Silva said.

In this backdrop, if the Government is adamant to go ahead with the Bill, the UNP has decided to request the Government that at the very lease all going concerns be removed from the Schedule 2 of the Bill including Sevenagala Sugar, Pelwatte Sugar and Lanka Tractors.

“We hope the Government will reconsider its move. With opposition mounting across the country including the private sector, chambers of commerce and trade and the clergy, the UNP hopes that the Bill be withdrawn,” Dr. De Silva added.

At a meeting chaired by President Mahinda Rajapaksa on Saturday with chambers of commerce and industry, strong proponent of the bill, the Economic Development Minister Basil Rajapaksa said that the new legislation was necessary to put idling or underutilised assets in to productive use as well as achieve the originally intended purposes of the enterprises. It was also clarified that the Bill was only intended to the enterprises and assets specified under the two schedules whilst the private sector participation would be sought in their revitalisation.