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[…]The post SL Debt Justice Collective Writes Open Letter To IMF On DDO appeared first on Colombo Telegraph.
[…]The post The Apologetic Custodian Of The EPF Is Also A Victim appeared first on Colombo Telegraph.
[…]The post Politics Of Easter Investigation In A Wriggling Economy appeared first on Colombo Telegraph.
Manusha Nanayakkara, the Minister of Labour and Foreign Employment, confirmed that the existing 9% employee benefit related to the Employee Provident Fund will remain unchanged.The post No harm to the Employee Provident Fund – Manusha appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
By Shihar Aneez ECONOMYNEXT –The Central Bank of Sri Lanka (CBSL) informed the members of the EPF, the country’s largest pension scheme, that it has opted for the government’s domestic debt optimization (DDO) option with a long-term view in the best interest of the members. It said the two options
The Employees Provident Fund (EPF) has submitted an offer to exchange the portfolio of their Treasury Bonds under the Domestic Debt Optimisation (DDO) programme, the Central Bank of Sri Lanka (CBSL) reported today (13 Sep.).
[…]The post System Change Happening In Wrong Direction appeared first on Colombo Telegraph.
The Governor of the Central Bank of Sri Lanka (CBSL) Dr. Nandalal Weerasinghe has revealed that in the event the Employees Provident Fund (EPF) participates in the Domestic Debt Optimisation (DDO) process, the opportunity loss to the EPF bond portfolio will amount to 4%.
[…]The post Debt Restructuring, Austerity & The IMF: A Panacea Or An Exacerbation? – Part V appeared first on Colombo Telegraph.
[…]The post ණය ප්රතිව්යුහගතකරණය, ආර්ථික කප්පාදුව හා ජාත්යන්තර මූල්ය අරමුදල: සර්වරෝගනාශකයක්ද නැත්නම් තත්වය උග්ර කරවන්නක්ද? – කොටස V appeared first on Colombo Telegraph.
[…]The post Debterioration Of Nations Social Security & Protection appeared first on Colombo Telegraph.
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 post The International Priority To Be Heeded appeared first on Colombo Telegraph.
[…]The post The Misunderstood Taxation Of EPF & Other Superannuation Funds appeared first on Colombo Telegraph.
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 […]
‘CBSL employees receiving higher interest rate of 29 percent’ Pivithuru Hela Urumaya (PHU) leader and dissident SLPP MP Udaya Gammanpila yesterday (04) said that though the government insisted that its Domestic Debt Optimisation (DDO) programme would have no impact on the banking sector, banks could lose as much as Rs 97 bn. Addressing the media at […]
[…]The post Involuntary & Inequitable DDO appeared first on Colombo Telegraph.
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 […]
Tuesday 4th July, 2023 Some SLPP grandees would have the public believe that they are opposed to the government’s domestic debt restructuring (DDR) programme because it has adversely affected the working class and exempted the super-rich. SLPP MP Namal Rajapaksa has gone on record as saying that he is averse to the DDR scheme, and […]
The JVP yesterday said that those who had voted for the government’s Domestic Debt Optimisation (DDO) plan in Parliament on Saturday should apologise to the country’s workforce for having endangered the EPF.Addressing the media at the party office in Pelawatte, the former MP and Politburo member Sunil Handunnetti said that the DDO plan would adversely […]
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 […]
Sri Lankan state can’t allow even a small bank to collapse because that will trigger a bank run with a devastating impact on the economy. Governor of the Central Bank of Sri Lanka CBSL) Dr. Nandalal Weerasinghe said, on Thursday night, taking part in a televised discussion. Dr. Weerasinghe said that Domestic Debt Restructuring (DDR) […]
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
CB Governor gives firm assurance that the safety of 57 million bank deposits will be upheld • EPF funds would not be touched
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 […]
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.