The Private Sector Commission (PSC) said it holds firmly to its position that the State Assets Recovery Bill 2016, in its current form, is flawed. As such, it is urging the Government to “seriously re-examine it before it is put to the legislature”.
The PSC noted that it has obtained legal advice on the State Assets Recovery Bill 2016 from its Legal Counsel. The PSC said this advice concurs with the general concerns which the Commission has raised in its earlier release.
The Private Sector Commission, in a statement today, said it wishes to reiterate its position that all assets belonging to the state, which were unlawfully acquired by any unauthorized beneficiary, must be returned to the state. The Private Sector Commission said it is, however, also strongly of the view that the curtailment of civil liberties and the erosion of investor confidence must not be the result of the process of such recovery.
“The Commission holds firmly to its position that the Bill, in its current form, is flawed and urges the Government to seriously reexamine it before it is put to the legislature,” the PSC stated.