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Thursday, 10 November 2011

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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:

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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