Ailing businesses revival Bill passed with 76 vote
majority:
Measure to protect public interest - Minister Basil on behalf of
president
Failing institutions breached almost all conditions:
Bill not drafted to victimize political opponents:
Sandasen MARASINGHE and Disna MUDALIGE
The revival of Underperforming Enterprises and Underutilized Assets
Bill was passed with amendments with a majority of 76 votes yesterday in
parliament. One hundred and twenty two legislators voted in favour of
the bill whereas 46 members voted against it.
Economic Development Minister Basil Rajapaksa participating in the
debate in Parliament, earlier assured Parliament on behalf of President
Mahinda Rajapaksa, that no private assets or private houses would be
taken over by the government under the Revival of Underperforming
Enterprises and Underutilized Assets Bill when passed.
The minister made this observation during the second reading debate
of the Bill.
He also said that this Bill was drafted only to take over 36 non
profitable institutions.
These institutions were handed over to the private sector by the
government under many conditions to earn profits, bringing benefits to
the people and economy of this country.
He said that these institutions had breached almost all conditions in
the agreements and the government after scrutinizing them, had taken
measures to take them back.
He said that managements of some of the institutions were misusing
those assets for illegal activities.
Minister Basil Rajapaksa also stated that this Bill is not drafted to
victimize political opponents, pointing out that there were institutions
of leading figures from the government side to be taken over under this
Bill. He said that one of them was owned by an MP of the government,
another by a chairman of a government corporation and another by a close
associate of his and also of the President.
He stated that the Sevanagala Sugar Industries Limited had breached
all conditions of the agreements. It was handed over to the private
sector to export sugar and earn profits, adding that according to
documents, the Sevanagala Sugar Industries Limited had not paid income
tax.
Minister Rajapaksa queried as to what measures were to be taken other
then taking over institutions that did not earn profits and breached the
conditions of the agreement.
He said that these institutions have been handed over to the private
sector to bring prosperity to the people in this country.
The minister also stated that when the fertilizer subsidy was misused
by an ordinary farmer, legal action was taken against him by the
government.
He also queried as to why the same law should not be applied to the
large company owners who misuse the assets of the public on a massive
scale.
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