- COLOMBO: Sri Lanka’s government said it had no plans to target any other businesses for takeover aside from the 37 properties listed in an asset acquisition act passed last week in parliament, which drew criticism from credit rating agencies.
“As presented to the Supreme Court and stated to Parliament the provisions of the said legislation remain confined to the business ventures and properties stated in the Act, and to none other,” President Mahinda Rajapaksa’s office said in a statement.
Last week, Sri Lanka’s parliament passed the law, which allows the state to reacquire 37 properties, including from two listed companies, it has said are underperforming.