Govt. parliamentary group decides to rename Bill
The government decided yesterday to go ahead with the controversial Underperforming and Underutilized Assets Bill in Parliament tomorrow — regardless of requests by the Maha Sangha, including the Mahanayake Theras, the Opposition and the business community to do away with it, informed sources said.
However, the ruling party’s parliamentary group decided to rename the bill on the grounds that the present title conveyed a wrong idea about its purpose. Earlier, UNP leader Ranil Wickremesinghe had personally requested President Mahinda Rajapaksa to exclude at least four companies -namely Sevanagala Sugar Company Ltd, Pelwatte Sugar Company, Ceylinco Leisure and Lanka Tractors Ltd — from the list of companies to be acquired under the provisions of the bill.
Nevertheless, the parliamentary group of the government had decided to disregard the Opposition’s request. Informed sources said that it was noted that these sugar factories had failed to honour the agreements they had signed with the state at the time they were privatised.
It was observed at the meeting that these sugar factories had failed to maintain a certain level of production despite the availability of the necessary resources. Also, it was highlighted that the sugar cane crop had been used mostly for the production of alcohol, rather than for the production of sugar.
Sources said that the companies had failed to pay dividends to their employees though it had been promised at the time of privatisation.
With regard to Lanka Tractors Ltd,, the group disclosed that eight acres of land belonging to the company remained idle in Narahenpita and Pettah.
The Supreme Court’s determination on the bill is expected to be announced by the Speaker in Parliament today. If the Supreme Court determines that the bill is consistent with the Constitution, the government can pass it in Parliament with just a simple majority. However, if it is found inconsistent with the Constitution, it needs to be passed by a two-thirds majority and must also be placed before the public for approval at a referendum.
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