Sri Lanka opposition parties protest the government's expropriation bill

Sri Lanka's main opposition parties have expressed strong disapproval of the government's proposed bill to acquire underutilized and underperforming businesses in the country despite the government's assurance that the bill is a 'one-off-bill'



The proposed legislation "Revival of Underperforming Enterprises and Underutilized Assets" is to be tabled in the parliament on November 8th.

The bill paves the way for the government to take over some 37 businesses that the government says are being mismanaged while receiving many government concessions.

Sri Lanka's Opposition and United National Party (UNP) Leader Ranil Wickremasinghe has vowed to take to the streets with the people to protest the bill if the government did not amend the proposed piece of legislation on acquiring under performing and underutilized assets.

Wickremasinghe has said that government was trying put a black mark in the country in relation to the international community, since the government's proposed piece of legislation is targeting the Sinhala businesses by acquiring profit making businesses owned by the Sinhalese.

He has charged that the government would not be allowed to act in such a manner after failing to acquire the assets of former LTTE Leader Kumaran Pathmanathan alias KP.

Referring to Daya Gamage's Sevanagala Sugar Industries, Harry Jayewardene's Pelwatte Sugar Factory and Ravi Wettasinghe's Lanka Tractors, the Opposition Leader has said they were profit making ventures that the government was trying to acquire.

According to Wickremasinghe, the targeting of the Sinhala business community had commenced in 1956.

Meanwhile the Marxist party Janatha Vimukthi Peramuna (JVP) says proposed bill to harass is an attempt to intimidate businessmen who oppose the government.

JVP parliamentary group leader Anura Kumara Dissanayake said the hidden agenda behind the proposed bill is to harass the entrepreneurs who do not support the government and fund its election campaigns.

He noted that there was no reason for the government to present the controversial bill to parliament as an urgent bill.

The MP explained that once the bill is passed, the government could acquire any private sector asset by issuing a gazette under the bill.

According to Dissanayake, the government has not clearly explained the method used to identify underperforming or underutilized assets.

The business community meanwhile has met President Mahinda Rajapaksa and senior ministers on Saturday to express their concerns over the bill.

During the meeting the government has assured the business representatives that it would be a 'one off bill' and its intention is purely to revive the 37 underperforming enterprises and underutilized assets slated to be taken over.

Government's assurance has somewhat satisfied the representatives of several business organizations.

The business chambers representatives have said that they will continue to remain engaged with the government on the proposed bill.