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Message: <blockquote data-quote="lkdood" data-source="post: 11309003" data-attributes="member: 92282">Senior Sri Lankan Buddhist monks asked the state to withdraw a planned  law to expropriate businesses, saying it violated citizens rights and  that loss-making state enterprises should be turned around first.They said the proposed law would deter local and foreign investment the  current administration is trying to attract to accelerate economic  growth after the end of the island's 30-year ethnic war in 2009. The draft bill of the law, titled 'The Revival of Underperforming  Enterprises and Underutilised Assets Act', has identified for  expropriation assets of 37 enterprises and is being rushed through  Parliament with no opportunity for debate. At least two ventures, both sugar plantations, are profitable. Another  is a Singapore based firm which is operating a convention centre in  Colombo on a 25-year build operate transfer agreement. Thibbotuwawe Sri Siddhartha Sumangala thero, chief priest of the  Malwatte chapter of the clergy, has urged President Mahinda Rajapaksa  not to take over profitable private enterprises. Private sector support was essential for the government's economic  development programme, he said in a letter released to the media at a  news conference. Investors who bought and turned around loss-making state ventures should be allowed to continue, he said. Maduluwawe Sobitha thero, chief priest of the Kotte Naga Vihara (temple)  said the proposed law was harmful to the interests of the country. "Unlike during the war time, there is no justifiable urgency to pass this bill," he told the news conference. "We hope the government will not go ahead with this new bill and give  people an opportunity to voice their opinion about it, which is their  right. "It makes no sense to bring a new law like this and take over even  profitable businesses when state-owned enterprises that were  nationalised earlier are themselves making heavy losses."    Sobitha thero cited heavy losses at the state power utility and  petroleum refiner as well as in a new venture, Mihin Lanka, a state-run  budget carrier. Two state-owned sugar plantations at Hingurana and Kantalai are defunct after making losses, he noted. However, he said two other sugar plantations slated for expropriation  under the new law were now profitable after private sector investors  bought them and turned them around. "Sevanagala Sugar is now being run profitably by its owner Daya Gamage  who bought it when it was privatised," Sobitha thero said. "Sevanagal Sugar and (listed) Pelwatte Sugar are businesses that have  been revived by private investors and made profitable. If they are taken  over by the government again they will be ruined and become loss-making  again. Sobitha thero also warned that the new law, if passed, would nullify  government efforts to attract investors, especially foreign investors. "The government is trying to attract investors but if this law is passed  no investor in his right mind will invest in Sri Lanka. They will fear  enterprises they buy and revive can be taken over by government after  they make it profitable." LBOsadu sadu sadu !!</blockquote>

Verification: Hath warak paha keeyada? (hatha wadikireema paha)

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