Expropriation bill won’t discourage foreign investors

Expropriation bill won’t discourage foreign investors

November 7, 2011   04:08 pm

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The government opted to bring forth the proposed Revival of Under-performing Enterprises and Under-utilized Assets Act in order to revitalize companies incurring losses, the Sri Lanka Freedom Party pointed out.

The party’s General Secretary and Minister Maithripala Sirisena in a release today (Nov. 7) claimed that the bill is being criticized by certain parties ‘without a proper understanding regarding the bill’.

Therefore a program will be put into practice to educate the public on the bill, the Minister of Health states.

The Revival of Under-performing Enterprises and Under-utilized Assets Act, scheduled to be presented to parliament this week, has generally been met with criticism by opposition parties who claim it will discourage foreign investors and that the bill itself is ‘political vengeance’ by the government.

Minister Sirisena, however says in the release, that foreign investment will not be discouraged through the proposed bill.

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