Expropriation Bill: President reassures business community

President Mahinda Rajapaksa yesterday assured the business community that the proposed Expropriation Bill is a one off bill whose intention is purely to revive the 37 underperforming enterprises and underutilized assets in question.

At a meeting with business chamber representatives from the Federations of Chambers of Commerce and Industry of Sri Lanka (FCCISL), National Chambers of Commerce of Sri Lanka (NCCSL), National Chamber of Exporters (NCE), Chamber Of Young Lankan Entrepreneurs (COYLE), Joint Appeal Association Forum (JAFF), Free Trade Zone Manufactures Association (FTZMA) and the Ceylon Chamber of Commerce (CCC), President Rajapaksa said the present holders of these enterprises or assets will be given the opportunity to submit proposals to the government to revive their respective enterprises or assets, a spokesman for the business chambers said.

The President said the government proposes to revive these enterprises or assets through the private sector.

The chambers also requested that some companies be removed from the schedule.