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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 Governor Dr. Nandalal Weerasinghe said yesterday. The EPF […]
- CB Governor outlines importance of DDR to protect banks and save overall economy (Category: Breaking News)
- Governance issues, etc., will have to be sorted out to avert further debt restructuring: Verité ... (Category: Breaking News)
- Involuntary & Inequitable DDO (Category: Breaking News)
- Central Bank informs EPF members: “decided to opt for” DDO (Category: Breaking News)
CB Governor gives firm assurance that the safety of 57 million bank deposits will be upheld • EPF funds would not be touched
- The President underscores the criticality of financial discipline in nation-building (Category: Breaking News)
- President directs President’s Fund Secretary to clear applications backlog by December 31st (Category: Breaking News)
- I have fulfilled my obligation- Anticipate the IMF to fulfil its responsibility by the end of ... (Category: Breaking News)
- The Resolution to constitute the "National Council" will be presented in Parliament for approv... (Category: Breaking News)
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 […]
- CBSL Governor refuses to resign over pay hike issue (Category: Breaking News)
- Uproar in Parliament over massive CB salary hike (Category: Breaking News)
- Government to unveil domestic debt restructuring strategy this week (Category: Breaking News)
- Sri Lanka’s sovereign lenders yet to outline debt talks plans (Category: Breaking News)
Sri Lanka's banking system would not be burdened any further as it already contributes to the Treasury and economy through taxes of over 50%, the Central Bank Governor Dr. Nandalal Weerasinghe said.The post Sri Lanka’s Central Bank Governor explains debt restructuring process appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
- Sri Lanka’s Central Bank Governor asks critics to provide alternatives (Category: Breaking News)
- IMF to visit Sri Lanka in late August for staff-level agreement – Central Bank Governor (Category: Breaking News)
- Sri Lanka central bank to consider a single policy rate mechanism (Category: Breaking News)
- Sri Lanka has no alternative other than IMF – CBSL chief (Category: Breaking News)
The Committee on Public Finance (COPF) is scheduled to meet officials from commercial banks, the Employees Provident Fund (EPF) and other relevant institutions for the second session of discussions on the proposed domestic debt restructuring process today (29 June).
Central Bank governor says the 9% interest paid on the Employee Provident Fund (EPF) deposits will not be affected by the domestic debt restructuring (DDR) process.
SLPP General Secretary Sagara Kariyawasam, MP, yesterday said that the government parliamentary group had been briefed on the proposed domestic debt restructuring programme after the Cabinet of Ministers unanimously approved it yesterday evening. Kariyawasam said that they had received a comprehensive briefing from CBSL Governor Dr. Nandalal Weerasinghe. According to him, they had received an [...
By Shamindra Ferdinando SJB MP Dr. Harsha de Silva said that the all-party Committee on Public Finance (COPF) would have to examine the proposals presented by the Central Bank of Sri Lanka (CBSL) and the Treasury as regards the proposed domestic debt restructuring. COPF Chairman de Silva said that the CBSL and Treasury representatives appeared […]
- Harsha clarifies why the opposition opposed DDO strategy (Category: Breaking News)
- COPF further discusses DDO plan, looks into effect on superannuation funds (Category: Breaking News)
- Opp. alleges Speaker disrupts CoPF ahead of vote on CBSL Bill (Category: Breaking News)
- COPF summons CBSL, Fin. Min. officials to discuss domestic debt restructuring (Category: Breaking News)
By Rathindra Kuruwita The JVP yesterday asked the government why it had closed the banks for five days and summoned Parliament without an Order Paper if it was confident that the domestic debt restructuring would have no detrimental impact on the people. JVP’s Dr. Nalinda Jayatissa told journalists in Colombo that the government had a […]
- JVP moves SC to prevent possible losses to EPF, ETF (Category: Breaking News)
- No final decision on domestic debt restructuring : Bandula debt (Category: Breaking News)
- Inland Revenue and Appropriation Acts to be amended in line with debt restructuring (Category: Breaking News)
- Govt. still undecided about domestic debt restructuring methods (Category: Breaking News)
Will not affect the banking system stability or the stability of any public or private bank Will not affect any interest on bank deposits of over 50 million depositors that is currently being paid Foreign as well as domestic debt restructuring proposals to be submitted to Cabinet tomorrow - Says President in Gampaha
- President's Climate Prosperity Plan identified climate issues that would affect the country (Category: Breaking News)
- Kokua Line: Some PUA claimants seem surprised to face state and federal income taxes (Category: USA, Hawaii)
- Kokua Line: Some PUA claimants seem surprised to face state and federal income taxes (Category: USA, Hawaii)
- Province warns of strong winds in northwest Ontario (Category: Canada, Ontario)
Declaring that the government had been compelled to go ahead with the debt restructuring programme, President Ranil Wickremesinghe yesterday (27) assured that it wouldn’t have a detrimental impact on both state and private banking sectors. The assurance was given at the opening of a new building at the Gampaha District Secretariat premises. President Wickremesinghe said […]
President Ranil Wickremesinghe assured that the restructuring of domestic debt will have no impact on the membership balance of any public funds, including the Employees’ Provident Fund (EPF). He emphasized that the rate of return for superannuation funds will not be affected in any way. Furthermore, the President stated that the restructuring of domestic debt […]
- No final decision on domestic debt restructuring : Bandula debt (Category: Breaking News)
- Foreign debt restructuring not feasible without domestic debt restructuring  Fin. Sec. (Category: Breaking News)
- Inland Revenue and Appropriation Acts to be amended in line with debt restructuring (Category: Breaking News)
- Govt. still undecided about domestic debt restructuring methods (Category: Breaking News)
The JVP yesterday moved the Supreme Court against the government’s plan to restructure domestic debt. Former JVP Anuradhapura District MP Wasantha Samarasinghe, in his capacity as President of Inter-Company Employees’ Union, and six others, filed a Fundamental Rights (FR) petition seeking an order preventing the government from cancelling the loans obtained from the EPF and […]
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Expressing strong opposition to the proposed domestic debt restructuring programme announced by the government, Prof. G. L. Peiris, MP, yesterday (26) accused the Wickremesinghe-Rajapaksa administration of being insensitive and irresponsible in addressing the issue. Instead of working on a social security net to protect the needy, the government was taking a dangerous path that would […]
- No final decision on domestic debt restructuring : Bandula debt (Category: Breaking News)
- Inland Revenue and Appropriation Acts to be amended in line with debt restructuring (Category: Breaking News)
- JVP moves SC to prevent possible losses to EPF, ETF (Category: Breaking News)
- Govt. still undecided about domestic debt restructuring methods (Category: Breaking News)
A Fundamental Rights (FR) petition has been filed before the Supreme Court 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 restructuring process.
[…]The post Ranil’s Economic Strategy: Will His Prioritisation Of Targets Misfire? appeared first on Colombo Telegraph.
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By Saman Indrajith State Minister of Finance Ranjith Siyambalapitiya told Parliament on Tuesday that compelling creditors to take a haircut was not the only way to restructure domestic debt. Measures such as debt moratoria, reductions in interests and delayed payments could also be adopted to restructure domestic debt, Siyambalapitiya said. “We have not decided to […]
- State Minister dismisses speculations on restructuring domestic debt (Category: Breaking News)
- JVP moves SC to prevent possible losses to EPF, ETF (Category: Breaking News)
- Siyambalapitiya alleges move to trigger run on banks (Category: Breaking News)
- Opposition vows to fight domestic debt restructuring plans of govt (Category: Breaking News)
The Sectoral Oversight Committee on Foreign Employment and Labour has recently directed the Central Bank to submit a report detailing the institutions in which funds belonging to the Employees Provident Fund (EPF) have been invested. In addition, the committee has decided to summon experts to propose a systematic approach for utilizing EPF funds. Under the […]
- SOC reveals defaulted EPF payments by plantation companies (Category: Breaking News)
- COPF discusses effect of domestic debt restructuring on EPF (Category: Breaking News)
- EPF to be summoned before PAC (Category: Breaking News)
- Govt. planning to place EPF, ETF under independent body (Category: Breaking News)
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