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[…]The post Speeding Up Recovery Requires Consistency appeared first on Colombo Telegraph.
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 The International Priority To Be Heeded appeared first on Colombo Telegraph.
[…]The post Domestic Debt Restructuring: An Episode In Capital’s Attack On Working People appeared first on Colombo Telegraph.
[…]The post The Misunderstood Taxation Of EPF & Other Superannuation Funds appeared first on Colombo Telegraph.
[…]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 […]
[…]The post ණය ප්රතිව්යුහගතකරණය කිරීම වඩාත් සාධාරණීකරණය කිරීමට වගවීම අවශ්ය වේ appeared first on Colombo Telegraph.
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 […]
Government-guaranteed interest on funds - Sri Lanka Banks’ Association
The Sri Lanka Banks’ Association has emphasized that by optimizing domestic debt, the hard-earned funds of the working people in the country will be safeguarded from potential losses. During an interview on the ‘101 Katha’ program,produced by the Presidential Media Division, Russel Fonseka, the Chief Executive Officer of the Bank of Ceylon and a member […]
By Saman Indrajith The Employees’ Provident Fund (EPF) would suffer a loss of Rs 12 trillion owing to the government’s domestic debt restructuring programme, Opposition and SJB leader Sajith Premadasa told Parliament yesterday. Premadasa said that the independent think tank, Verite Research
‘CBSL employees receiving higher interest rate of 29 percent’ Pivithuru Hela Urumaya (PHU) leader and dissident SLPP MP Udaya Gammanpila yesterday (04) said that though the government insisted that its Domestic Debt Optimisation (DDO) programme would have no impact on the banking sector, banks could lose as much as Rs 97 bn. Addressing the media at […]
[…]The post Involuntary & Inequitable DDO appeared first on Colombo Telegraph.
[…]The post Non-Recurrence Requires Accountability appeared first on Colombo Telegraph.
Parliament disregarded COPE recommendation for PSC By Shamindra Ferdinando Eksath Janaraja Peramuna (EJP) leader and SJB MP Patali Champika Ranawaka, MP, has called for the setting up of a special commission to investigate those who bankrupted the economy. Ranawaka said that those who had served as Finance Ministers, Governors of the Central Bank and members of the […]
Tuesday 4th July, 2023 Some SLPP grandees would have the public believe that they are opposed to the government’s domestic debt restructuring (DDR) programme because it has adversely affected the working class and exempted the super-rich. SLPP MP Namal Rajapaksa has gone on record as saying that he is averse to the DDR scheme, and […]
by Jehan Perera President Ranil Wickremesinghe notched up another achievement when Parliament ratified the Domestic Debt Restructuring (DDR) programme with a majority of 60 votes, with 122 members voting for and 62 against, with 40 abstentions. Parliamentarians who would need to think about their re-election prospects would have been reluctant to vote for a programme […]
By N Sathiya Moorthy In his Hajj message last week, President Ranil Wickremesinghe called upon all Sri Lankans to remain ‘united in a common cause to achieve our domestic, regional and global goals’. Yet, a day later, his leadership was seen as having split the political Opposition over the domestic debt restructuring issue in Parliament, indicating […]
The JVP yesterday said that those who had voted for the government’s Domestic Debt Optimisation (DDO) plan in Parliament on Saturday should apologise to the country’s workforce for having endangered the EPF.Addressing the media at the party office in Pelawatte, the former MP and Politburo member Sunil Handunnetti said that the DDO plan would adversely […]
By Shamindra Ferdinando Dissident SLPP MP Gevindu Cumaratunga has strongly opposed the government move to place the debt-restructuring programme under President Ranil Wickremesinghe’s control as the latter does not represent Parliament. Addressing Parliament on Saturday (01), the leader of civil society group ‘Yuthukama’ pointed out that the Resolution on the Domestic Debt Optimisation (DDO) was [...
frowns on privileged status to wealthy investors, bid to restore dissolved LG bodies By Shamindra Ferdinando Top Opposition Spokesman Prof. G. L. Peiris yesterday (02) demanded that the government cancel, what he called, the deeply flawed ‘Aswesuma’ social security project, to pave the way for a fresh scheme. Addressing the media at the Nawala Office […]
about burden falling on superannuation funds esp #EPF without […]
Sri Lankan state can’t allow even a small bank to collapse because that will trigger a bank run with a devastating impact on the economy. Governor of the Central Bank of Sri Lanka CBSL) Dr. Nandalal Weerasinghe said, on Thursday night, taking part in a televised discussion. Dr. Weerasinghe said that Domestic Debt Restructuring (DDR) […]
By Saman Indrajith Most opposition political parties yesterday vowed to defeat the government’s proposed debt restructuring plan when Parliament convenes today at 9.30 a.m.Secretary General of the Parliament, Kushani Rohanadeera said she informed all Members about the meeting, according to the instructions of Speaker Mahinda Yapa Abeywardena. The Speaker has also issued a Gazette Extraordinary [&#...
Banks, which pay taxes over 50%, least affected By Sanath Nanayakkare If the Employees’ Provident Fund (EPF) and other pension funds did not wish to participate in the proposed domestic debt restructuring process, there will be an application of higher annual income tax of 30%, Central Bank
CB Governor gives firm assurance that the safety of 57 million bank deposits will be upheld • EPF funds would not be touched
The Central Bank warned that a collapse of the country’s banking sector would have catastrophic consequences. Central Bank Governor Nandalal Weerasinghe said that it was vital to protect the banking sector. “The CB Governor said it was vital to protect the banking sector as a collapse of the country’s banking sector would have catastrophic consequences,” the […]