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Investor Confidence Further Affected

[The Sunday Leader.lk, Tuesday, 22 November 2011 07:57 No Comment]

UNP parliamentarian and Economist Dr. Harsha de Silva said that foreign investor confidence has been affected due to certain proposals made in the 2012 budget by President Mahinda Rajapaksa.

Referring to the proposal to acquire 37,000 hectares of ‘unutilized’ land from privatized plantations, Dr. de Silva told The Sunday Leader that the government has gone back on its word with regard to the Expropriation Act.

“The President after saying that only the 37 enterprises listed in the Appropriation Act would be acquired, has now come out saying more assets would be acquired,” he said, adding the it would have a negative impact on investor confidence.

President Rajapaksa said the land acquired would be distributed among smallholders in two-acre lots.

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