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Srilankamirror - UNP MP Dr. Harsha de Silva says the Employees’ Provident Fund (EPF) would be summoned before the Public Accounts Committee (PAC) in parliament to explain its accounts. He told Sri Lanka Mirror that the EPF has failed to submit the audited reports for 2010
Last week there were more stories making the rounds on contemplated decisions made outside the cabinet meeting than decisions made inside. Of course, the usual briefing on cabinet decisions were spelled out, Thursday afternoon. For a regime that still wants to boast it has popular support, comparing itself to an opposition fractured and quarrelling red and green, it is ...
If the Governor of Central Bank has an urge to enter politics, he should come to Parliament without playing politics inside the CB, charges United National Party Parliamentarian and well-known Economist Dr. Harsha de Silva. Dr. de Silva notes that Governor Nivard Cabraal should respect the sanctity of the Central Bank and therefore if Cabraal ...
Jan 09, Colombo: Sri Lankas main opposition United National Party (UNP) has called on the government to submit the audit reports of the Employees' Provident Fund (EPF) to parliament.
Jan 06, Colombo: The main opposition of Sri Lanka United National Party (UNP) has called on the government to postpone the presentation of amendments to the Employees' Provident Fund (EPF) Act.
Jan 06, Colombo: Labor Minister of Sri Lanka Gamini Lokuge says the proposed amendment to the Employees Provident Fund (EPF) Acts to empower the Labor Commissioner to set up a private sector pension scheme for workers not covered by the EPF, has been removed.
Jan 04, Colombo: Private sector trade unions in Sri Lanka say the government is trying once again to swindle monies in the retirement fund of the private employees, the Employees' Provident Fund (EPF).
Dinesh tipped to be appointed Chairman; Dheerasinghe as Deputy; business leader Preethi new face on the Board Commercial Bank is slated to have a special Board meeting today, the second in three days, to elect a new Chairman. The move follows the resignation of longstanding Chairman and Board member Mahendra Amarasuriya, as exclusively reported by ...
Senior business leader and longstanding Board member Mahendra Amarasuriya yesterday resigned as Chairman of Commercial Bank Plc a move which is likely to evoke mixed reactions in banking and corporate circles. Amarasuriya, a highly respected corporate figure, announced his resignation during a Board meeting of Commercial Bank yesterday, throwing open the mantle of leadership at ...
The Pathfinder Foundation issued the following response to the IFC opinion piece on its Economic Alert No. 20 titled ‘Improving Sri Lanka’s Business Climate,’ published in the Daily FT: The Pathfinder Foun-dation (PF) is grateful to the International Finance Corporation (IFC) – World Bank (WB) office in Colombo for the substantive comments that it published ...
Fitch Ratings has affirmed Sri Lanka’s Housing Development Finance Corporation Bank’s National Long-Term rating at ‘BBB+(lka)’. The “Outlook” Fitch says is Stable. At the same time, the agency has affirmed the bank’s outstanding senior unsecured redeemable debentures at ‘BBB+(lka)’. The ratings reflect HDFC’s demonstrated ability to contain interest rate risk b...
With reference to Pathfinder Foundation article titled ‘Improving Sri Lanka’s Business Climate’ published on 21 December, the International Finance Corporation (IFC)Country Manager – Sri Lanka and Maldives Adam Sack has sent the following response: I write with reference to the article above in yesterday’s Daily FT by the Pathfinder Foundation – in which there a...
Most recent Deputy Governor of the Central Bank K.G.D.D. Dheerasinghe has been appointed to the Board of Commercial Bank Plc as a Non Executive Director. The appointment with effect from 20 December was announced by the Commercial Bank yesterday whilst the Daily FT first broke the impending move a week ago. Dheerasinghe retired from the ...
The Pathfinder Foundation with the assistance of Volunteers for Economic Growth Alliance (VEGA) and USAID, recently commissioned a study to identify the policy and regulatory reforms that are required to make Sri Lanka a leading country in investor friendliness. Improving the business climate is not an end in itself. A better business environment is a ...
Dec 18, Colombo: Trade unions affiliated to the private sector in Sri Lanka say that the proposed amendments to the Employees' Provident Fund (EPF) Act have not been presented to the National Labor Advisory Council (NLAC) for discussion and approval by all stakeholders.
Market’s illiquid state compounded by seasonal demand for money, coupled with the lack of confidence in the establishment that is also driving demand for US dollars ($s) and rates as well, forced Central Bank of Sri Lanka (CBSL) to hold a reverse repo auction on Friday (December 16) to tide over the situation Overnight (O/n) ...
Dec 16, Colombo: Labor Minister of Sri Lanka Gamini Lokuge says the government would present amendments to the Employees' Provident Fund (EPF) Act to parliament next year.
‘O cursed lust of gold\, to what canst thou not compel the heart of man!’ - Virgil Aenid (greed) This column dedicated to the notion of making Sri Lanka the Wonder of Asia turns its spotlight today on the dreadful suffering of Sri Lankans due to the fraudulent activities of persons masquerading as great philanthropists thereby building public ...
Srilankamirror - Deputy Finance Minister Geetanjana Gunawardena says that monies in the Employees Provident Fund (EPF) have been deposited in several private banks. He has told parliament that EPF monies have not been used to buy shares of any private banks. He has noted that monies
Dec 03, Colombo: Deputy Finance Minister of Sri Lanka Gethanjana Gunawardena says that monies in the Employees Provident Fund (EPF), the retirement fund of Sri Lankan workers, have been invested in several private banks.
From early in-house management training to training in world class management schools that professionals, business leaders, academics and civil society leaders have undergone, they have learnt of the key management principle of engaging in quiet reflection, reality checks, risk mitigation assessments and the need to plan lessons learnt response action. These practices are considered essential ...
By Ian The President in his speech at the opening of the Southern Expressway said that this could be the beginning of building a modern society. He also mentioned that had there been such an expressway linking the north with the south the extremists would not have succeeded in capitalising on the mistrust among communities. ...
Professionals stressed the importance of attracting foreign direct investment (FDI) into the country to usher in much needed development and also to help in foreign debt servicing and to take away pressure on interest rates. Former Central Bank of Sri Lanka Director Statistics Dr. (Mrs.) Anila Dias Bandaranaike speaking at a CIMA sponsored budget seminar ...
IMPRUDENT INVESTMENTS CITED By Jayantha Sri NissankaTrade unions charge that the Employees Provident Fund (EPF) has incurred a loss of Rs1000 million investing in the stock market, and through two transactions that took place recently.Inter Company Employees Union Secretary, Janaka Adikara
Debate on the the 2nd complete UPFA budget since the conclusion of the war in 2009 May, is now on both within the parliament and without. Heavy weights both critical and positive about this budget, have access to media. The debate is about urban middle class life and the Western Province economy. Not much is ...
By Devin Jayasundera HDFC, Sri Lanka’s only bank which specialises in Housing finance industry launched its newest product HDFC Housing Fund that provides affordable and accessible financial services for housing purposes at a media briefing yesterday. HDFC Bank officials believe that these kinds of innovative schemes will strengthen the housing sector in Sri Lanka. The ...
Says that taxation simplified, gives concessions for investment and urges more private sector involvementBy Uditha Jayasinghe The benefits of the tax system have been continued to provide a firm foundation for economic growth, a top official said yesterday. Addressing a packed post-Budget seminar organised by the Inland Revenue Department (IRD), Finance Ministry Secretary Dr. P.B. ...
Following the successful signing last month of two MOU’s between the EFC and the regional chambers of Hambantota and Jaffna, a panel of senior members from the EFC travelled to Hambantota last week as guests of the District’s Chamber of Commerce to meet with the local business community. Speaking about the day long event, Director ...
Nov 17, Colombo: Private sector trade unions in Sri Lanka have commenced a campaign to create awareness among the public on the alleged misuse of the retirement fund of the country's workforce, Employees' Provident Fund (EPF) monies by the government.