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 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

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.

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 […]

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

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 […]

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 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 […]