The proposed Revival of Under-performing Enterprises and Under-utilized Assets Act will only be applied to businesses and properties listed in the bill and will not affect those outside it, President Rajapaksa told a group of organization heads representing the private sector.
The government will not take over any business ventures or assets of the private sector other than those listed in the expropriation bill, he stated.
The bill has been introduced in order to revive private businesses which have failed to achieve promised targets, the President had stated during a discussion held yesterday (05) with private sector representatives.
The President’s Media Unit informed that the group was thoroughly briefed on the proposed bill by the President and Economic Development Minister Basil Rajapaksa and that the private sector representatives had pledged their support to the bill.
They had reportedly pointed out that even though the companies listed under the bill are taken over by the government, its workers will be provided with job security.
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