The UNP has said the government should contribute monies to the proposed private pension fund without utilizing the Employees Provident Fund (EPF) and Employees Trust Fund (ETF) funds. UNP National Organizer and parliamentarian Ravi Karunanayake told the media that instead of contributing monies

May 23, Colombo: Sri Lanka's main opposition United National Party (UNP) has said the government should contribute monies to the proposed private pension fund without utilizing the Employees Provident Fund (EPF) and Employees Trust Fund (ETF) funds.

Trade unions have decided to lodge complaint with the International Labor Organization (ILO) about the government’s proposed pension scheme for the private sector. Private sector unions have objected to the proposed pension scheme stating it was not beneficial to the private sector workers and that the government was using the workers’ funds to set up ...

More To Exit following UN Report The stock market continued to lose its momentum as predicted in the lead story on these pages in its last week’s edition, compounded by foreigners fleeing the market, made worse by the UN’s negative war report on the island. “There is panic selling by foreigners in the backdrop of ...

President Mahinda Rajapaksa said that the government has decided to create three separate funds to accommodate the proposed controversial Private Pension Scheme instead of obtaining funds from ETF, EPF and Gratuity. Accordingly, three separate funds, The Employees’ Pensions Benefit Fund

President Mahinda Rajapaksa said that the government has decided to create three separate funds to accommodate the proposed controversial Private Pension Scheme instead of obtaining funds from ETF, EPF and...

Several trade unions are to hold a conference on Tuesday (26) to create awareness among the people about the ill effects of the government’s proposed private sector pension scheme. Ceylon Teachers’ Union (CTU) head, Joseph Stalin told Colombo Page that the union together with several others have organized a conference on Tuesday morning at the ...

Banks’ Profits Up 111% The banking industry achieved a considerably high level of profits in 2010. Profit after tax amounted to Rs. 57.5 billion last year, a 111% growth in comparison to a Rs. 27.2 billion profit in 2009. The significant growth in profitability was mainly attributed to a higher increase in fee-based income, a ...

By Dr.Vickramabahu Karunaratne We are happy to see that this May Day has become a day to challenge the Oppression of Mahinda state. Many strong trade unions have come together to challenge the chauvinist pro global capitalist government. Government is...

A political expert contacted for an explanation on how the Bill to establish a private sector Employees’ Pension Scheme could go through parliament so urgently. He insisted no “Urgent Bill” could be brought up for debate in parliament without first being presented in the Supreme Courts. This insistence took our mind back to an anecdote ...

of the Yugadhanavi plant were the Treasury, the EPF, ...

were the Treasury, the EPF, Lanka ...

Samurdhi officers’ trade unions have rejected the contributory pension scheme for public sector employees and has agreed to a non-contributory scheme. The government has proposed a contributory pension scheme to public sector employees who were not eligible to receive pensions. The Samurdhi Development Officers Union (SDOU) has told the media that the Samurdhi officers were ...

The gross income of the Employees Provident Fund was Rs.121.3 billion, which is 10.6 percent higher compared to that of the preceding year.  By the year 2010, the total value of the Fund has reached Rs.900 billion registering a growth of 16.9 per cent over that of 2009 reveals Central Bank reports.

The Inter Company Employees Union (ICEU) has called on the government to establish a pension scheme for the private sector employees. ICEU Head Wasantha Samarasinghe told a press conference that the union is to also take the matter to the International Labour Organization (ILO) and the World Trade Union Federation (WTUF). According to Samarasinghe, the ...

The total value of the Employees Provident Fund has risen to 900 Billion Rupees. The Central Bank said this was the highest value of the Fund. This surge is attributed to the generation of more new jobs and a hike in the salaries of the Private Sector. The value of the Employees Provident Fund in ...

Feb 12, Colombo: Private sector trade unions in Sri Lanka have opposed the government's move to introduce amendments to the Employees' Provident Fund (EPF) Act.

Government presented a bill seeking provision for employees to withdraw 30 percent of EPF (Employee Provident Fund) fund for housing and medical treatment

No Investments With the market throwing up an excess liquidity of more than Rs. 120 billion day, day in day out, and signs being that investments have not picked up, are all favourable indicators for the prevalence of a low interest regime in the economy, a market source told this reporter. The market has no ...

The total value of the Employees Provident Fund has increased. The Central Bank attributed this to the many new jobs generated. The current asset base of the EPF has risen to 900 Billion Rupees. The Central Bank said it is the highest value achieved by the EPF. The generation of many jobs

The Employees Provident Fund(EPF) asset base crossed the Rs 900 billion mark for the first time in its history, Central Bank Governor Ajith Nivard Cabraal said. According to the CB Governor, the emergence of new employment opportunities in recent times and the increase of salaries in the private

Excess Liquidity, Small Forex Market Excess liquidity coupled with low volumes of foreign exchange traded have been continuing to bug markets here, which a source attributed as being are reflection of the low levels of economic activity taking place in the country. Despite a spike last Friday, the foreign exchange (forex) market has been averaging ...

The “drag down” of the bourse which began a couple of weeks ago will continue till the year end because of the holiday season that would lead to a further contraction in demand as a result. The “light at the end of the tunnel” may once more be seen if foreigners re-enter the market, a ...

President Rajapaksa as Minister of Finance presented the first budget in his second term as the Executive President, making proposals giving a major impetus to value addition of local industrial products, to improve export earnings while granting a wide range of concessions, increasing outsourcing facilities in Sri Lanka for foreign business enterprises. Thus the President, ...

Government institutions such as the State administered EPF are believed to have had entered the market on Thursday by buying into blue chips across the board, thereby helping to push up the All Share Price Index (ASPI) by 92.58 points (1.43%) to 6,565 and the more sensitive Milanka Price Index (MPI

Sri Lanka`s private sector trade union arm, Inter Company Employees` Union (ICEU) held protests toda..

Nov 15, Colombo: Sri Lanka's private sector trade union arm, Inter Company Employees' Union (ICEU) held protests today outside several private institutions against the proposed amendments to the Employees Provident Fund (EPF) and Employees' Trust Fund (ETF) Act.

The private sector trade union association, the Inter Company Employees’ Union (ICEU) today (15) held protests outside several private institutions against the proposed amendments to the EPF/ETF Act. ICEU Head Wasantha Samarasinghe said the protests were held outside private companies island

Employees Provident Fund President S K Gunawardena recently declared open the Employees Provident Fund office at Martin Road, Jaffna.

The Inter Company Employees Union affiliated to the JVP is planning an island wide protest against t..