Nov 07, 2011 (LBO) - 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 <b>...</b>