UNP to launch public protest against draconian RUEUA Act

by Zacki Jabbar

The UNP said yesterday that it would launch a public protest against the Revival of Underperforming Enterprises and Unutilised Assets Bill,which was bulldozed through parliament last week without discussing it with the stakeholders.

General Secretary of the UNP Tissa Attanyake addressing a news conference in Colombo,said that the date of the protest would be decided on,when UNP leader Ranil Wickremesinghe returns from London this week.

The sovereign ratings agency Moody’s said on Monday,that the controversial RUEUA Act could cast a cloud over Sri Lanka’s investment climate, creating uncertainty over property rights and be credit negative for the economy.

Attanayake,said that the archaic piece of legislation has taken the country back to 1971-77 SLFP era and was a huge deterent to local and foreign investments in Sri Lanka.

Playing politics with the economy was very dangerous and it was the people who would suffer in the end,he said adding that reconciliation and not revenge was the way forward in the post war era.

The Rajapaksa regimes bid for the 2018 Commonwealth Games, was flawed from the very outset and was nothing but a waste of time,money and manpower,Attanayake observed.

The London based firm Bell Pottinger had been paid nearly Rs.500 million to publicise Hambantota as the best venue for the games,when it did not have the basic infrastructure required for an event of such magnitude,he said adding that Gold Coast in Australia had tailored made venues.

A total of nearly US$ 8 million had been squandered for a futile exercise with lavish parties being hosted in St.Kitts for delegates from Commonwealth countries and it was the Sri Lankan tax payer who would now have to foot the bill,Attanayake noted.


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