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 ...

Jan 09, Colombo: Sri Lanka’s main opposition United National Party (UNP) has called on the government to submit the audit reports of the Employees' Provident Fund (EPF) to parliament.

The UNP yesterday demanded that the annual accounts of the Employment Provident Fund for 2010 be imm..

  By Padmini MatarageThe government has been contemplating introducing the amended Employees Provident Fund (EPF) Act in parliament on January 18, sources say. However, due to unprecedented opposition from trade unions, political parties and civil society, the government has decided to rethink its stance on presenting it in 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.

UNP MP Dr. Harsha de Silva alleges the government is planning to table in parliament on January 18 the EPF amendment draft bill.

(Srilankamirror) – UNP MP Dr. Harsha de Silva alleges the government is planning to table in parliament on January 18 the EPF amendment draft bill. Speaking to the media in Colombo today (Jan. 05), he described the proposed piece of legislation as a messy one. There is no need at all to bring in such laws in a hurry, said Dr. de Silva, adding that a young life was lost last year when...

The United National Party (UNP) said today the proposed amendments to the Employees Provident Fund (EPF) Act had several loopholes and would enable the government to obtain monies from the...

The United National Party says it has no intention of opposing all Government programmes. UNP Parliamentarian Harsha de Silva however called on the Government not to table the Employment Provident Fund Bill in Parliament.Addressing the media at the Opposition Leader’s Office, he said that the media conference was summoned to intimate to the Government to ...

Srilankamirror - The government has withdrawn one of the proposed amendments to the EPF Act. The amendment that has been withdrawn is the one to permit the Labor Commissioner to set up a pension scheme for persons not a member of the EPF. Labor Minister of Gamini Lokuge has said the proposed amendment was removed following a request made by the trade unions during a meeting of the National...

Srilankamirror - The Inter Company Employees’ Union (ICEU) says the government is trying once again to swindle monies in the Employees’ Provident Fund (EPF). The Union notes that the government has found a new way to take the EPF monies after the first attempt by the government to swindle the monies failed due to workers’ protests. Head of the ICEU, Wasantha Samarasinghe ...

The government is to present an amendment to the EPF Act during the next parliamentary session which will commence on the 17th of this month. The amendment to be presented for approval would enable the government to set up an insurance and pension scheme for workers and use EPF funds to construct a building for ...

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).

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...

(Srilankamirror) - Expressing suspicion over the share market investment of money in the Employees Provident Fund, UNP MP Eran Wickramaratne has asked the government to appoint a parliamentary select committee immediately to probe the matter. Speaking to the media yesterday (Dec. 23), he said there are various issues with regard to the investment of the EPF money in the share market and the d...

Srilankamirror - The Inter Company Employees' Union (ICEU) has called on the government to present the proposed amendments to the Employees' Provident Fund (EPF) Act to the National Labor Advisory Council (NLAC) for discussion and approval by all stakeholders. The ICEU has pointed out that the government had promised to present the draft amendments to the NLAC for discussion before pr...

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) ...

TUs Call For Amendments To Be Discussed At NLAC By Mandana Ismail Abeywickrema The government says that the proposed amendments to the Employees’ Provident Fund (EPF) Act would be presented to parliament early next year. Labor Minister Gamini Lokuge told The Sunday Leader that the amendments have received a tripartite agreement and approved by the ...

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 of the Fund have been deposited in Commercial Bank, Sampath Bank, DFCC Bank and the NDB Bank. According t...

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.

The Brokers are said to meet with the President on Monday the 28th. Wish them luck though some of them should be saying “mea culpa”. The euphoria after the war led the brokers and the financial journalists to create too much expectation. So the Colombo stock market rose by 96% in 2010 as indicated by ...

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 said that the EPF has a fund amounting to Rs one trillion at present and has seen increased investing in th...

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 ...

What are the prospects for the Stock market in the near future? The IMF thinks that the growth rate this year will be closer to 7% rather than 8%. The third quarter company earnings are now being released. Here are some results: Good performers Distilleries Profit growth @ 78; Kelani Cables 259%; LOLC 68%; LWL ...

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.