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 ...

The Power and Energy Ministry has stated that the Yugadhanavi power plant in Kerawalapitiya was a semi-government commercial venture, but was ready to pay the arrears due to the Ceylon Petroleum Corporation (CPC) by the plant. The Ministry issuing a statement has explained that the shareholders of the Yugadhanavi plant were the Treasury, the EPF, ...

The Petroleum Ministry issuing a statement has said that CPC has decided to supply heavy fuel to the Yugadhanavi plant in Kerawalapitiya according to the manner in which the West Coast Company, a shareholder of the plant, settles the dues to the CPC. The shareholders of the Yugadhanavi plant 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 and the increase ...

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 sector had a direct impact in boosting the EPF asset base.   Read more:www.dailynews.lk/2011/01/...

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) by 132 points (1.89%) ...

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 wide during their lunch hour and at the change of their work shifts. Samarasinghe ...

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..

By Chamitha Kuruppu Reputed Economist and UNP Member of Parliament Dr. Harsha de Silva, while talking about the crony capitalism in the country, warns that the situation is only going to get worse within the new set up, where economic...

The Inter Company Employees’ Union (ICEU) today (27) said the police had disrupted its leaflet distribution campaign in the Maradana area. The ICEU leaflet distribution campaign on the government’s alleged move to plunder the EPF and ETF was carried out opposite the Maradana railway station today. ICEU Senior Vice President, T. Hettiarachchi told The Sunday ...

Compensation has been granted to employees of the Salt Corporation at Manthai which was shut down due to terrorist activities. The handing over of the compensation to 371 employees of the Salt Corporation took place at the Labour Office in Vavuniya. The amount paid was over 150 Million Rupees. The event was organized under the ...

Bay Pond USA, continued its selling streak of JKH shares at Thursday’s trading as well, with the Government administered EPF being among the buyers, at Rs. 300 a share, to prevent the bourse from falling, market sources told The Sunday Leader. Government institutions have been intervening in the market from time to time to stop ...

Oct 23, Colombo: Sri Lanka government is to launch a new identification system from November 01 for the members of its popular retirement plan, Employees' Provident Fund (EPF).

Sept 30, Colombo: The members of Sri Lanka's largest social security scheme, Employees' Provident Fund will soon be able to withdraw 30% of their account for housing and medical requirements.

A new Amendment will be introduced to the Employees Provident Fund to grant additional benefits to the working class. The Cabinet gave the nod for the amendment. Cabinet Spokesman Keheliya Rambukwella said major amendments will include the withdrawal of 30% of members from the funds for housing and medical treatment. Housing purposes will cover construction ...

by Dr.A.C.Visvalingam President -CIMOGG One hundred and sixty-one Members of Parliament, in their understandable admiration of President Rajapaksa’s leadership in eliminating the LTTE, appear to have taken up the position, by voting for the 18th Amendment ("18A"), that he can...

(Lanka-e-News, Sep.11, 2010, 11.05 PM) According to Central Bank statistics, during the year 2009-2010, the EPF payments to its members have dropped by...