Speaker Mahinda Yapa Abeywardena told Parliament on Friday thaty he would not revoke his ruling given on Wednesday with regard to the Parliament’s supremacy over the Supreme Court. He said that he had consulted legal experts in preparing his ruling that the Supreme Court is not empowered to issue orders or judgments of any nature against […]

By Saman Indrajith Opposition political parties yesterday (11) demanded that Speaker Mahinda Yapa Abeywardena withdraw his ruling that courts are not empowered to issue orders or judgements of any nature related to a motion already passed by the Parliament. On 09 August, the Speaker gave the ruling after Tourism and Lands Minister Harin Fernando raised a privilege issue on petitions filed against ...

The Supreme Court on Friday (11 Aug) dismissed a Fundamental Rights (FR) petition filed claiming that the government s recent decision to reduce the interest rates paid when investing the funds of the EPF in treasury bills and bonds is a violation of fundamental rights.

By Saman Indrajith The SJB yesterday accused the government of using trickery to prevent the judicial review of its new laws to bring down the value of money in the Employment Provident Fund by 30% as a part of IMF dictated economic reforms. Chief Opposition Whip Kandy District MP Lakshman Kiriella said that the government […]

The Supreme Court today (09 August) dismissed a Fundamental Rights (FR) petition filed seeking an order preventing the government from waiving off loans obtained from the EPF and ETF funds during the domestic debt restructuring process.

The Cabinet of Ministers has approved a proposal to amend the Employees Provident Fund (EPF) Act to maintain a minimum of 9% annual interest rate within the next four years.

BASL urged to take a stand By Shamindra Ferdinando The Jathika Jana Balawegaya (JJB) has accused President Ranil Wickremesinghe of seeking to influence the judicial process in respect of a petition against domestic debt restructuring at the expense of the Employees’ Provident Fund (EPF

By Rathindra Kuruwita Brain drain is the worst manifestation of the country’s economic crisis, Freedom People’s Congress (FPC) member and MP, Prof. G.L Peiris, said on Thursday.Prof. Peiris said that a large number of academics had left state universities. In recent years, the number of students enrolled at the state universities had risen significantly, he […]

The Supreme Court today (03) ordered the consideration of the petition filed seeking an order preventing the government from waiving off the loans obtained from the Employees Provident Fund (EPF) and Employees Trust Fund (ETF), during the Domestic Debt Optimization (DDO) process, to be postponed

Two petitions were filed before the Supreme Court this afternoon (28 July), seeking an order deeming the decision to reduce the interest rates paid when investing the funds of Employees Provident Fund (EPF) in treasury bills and bonds to 9% a violation of fundamental rights.

The Supreme Court has ordered the petition filed seeking an order preventing the government from waiving off the loans obtained from the Employees Provident Fund (EPF) and Employees Trust Fund (ETF), during the Domestic Debt Optimization (DDO) process to be recalled on August 27 for consideration.

ECONOMYNEXT –Sri Lanka’s main opposition party the Samagi Jana Balawegaya (SJB) will present an amendment to the Employees’ Provident Fund (EPF) Act to ensure an equitable treatment in restructuring domestic debt, an SJB legislator said. MP Harsha de Silva told reporters on Wednesday July 12

The petition filed seeking an order preventing the government from waiving off the loans obtained from the Employees Provident Fund (EPF) and Employees Trust Fund (ETF), during the domestic debt optimization (DDO) process is due to be heard on 27 July.

The Sectoral Oversight Committee on Foreign Employment and Labour has revealed that several plantation companies have defaulted on Employees Provident Fund (EPF) payments and have huge arrears to the EPF.

[…]The post Labour Reforms In A Time Of Great Crisis appeared first on Colombo Telegraph.

When the five days long stretch of holidays ended last week and the Colombo bourse reopened for trading on Tuesday, the market surged 6.71 percent (633.69 points up) on the broad All Share Price Index (ASPI) while the Standard and Poor SL 20 index covering the 20 largest and more liquid companies quoted on the […]

By Rathindra Kuruwita Unless Sri Lanka addressed its governance issues, the country would have to restructure its debt again like most countries that had unsustainable levels of corruption, Executive Director of Verité Research Nishan de Mel said in a recent televised interview. Dr. De Mel said that as the government had decided to pay the […]