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* Opposition MP accuses Sri Lankan government of using retirement fund for development work
Thu, Jan 26, 2012, 10:52 am SL Time, ColomboPage News Desk, Sri Lanka.

Jan 26, Colombo: A legislator of Sri Lanka's main opposition United National Party (UNP) has accused the government of using the monies from the Employees Provident Fund (EPF), country's major retirement fund for the employees in the corporate and private sector, to carry out development work in its agenda.

UNP parliamentarian and head of the trade union Jathika Sevaka Sangamaya (JSS), Dr. Jayalath Jayawardena has said that EPF monies were being excessively used to construct a 35-story luxury building in Narahenpita.

He has said that using EPF monies to construct such a building was illegal and undemocratic.

Dr. Jayawardena has called on the government to reveal to the country exactly how much would be taken from the EPF account for construction purposes and how it would be utilized.

The government says the trade unions have agreed to allow monies from the EPF to be used for the construction of a building for the EPF Secretariat.

According to the UNP, the government has used its two-thirds majority in the House to forcibly pass the amendments to the EPF Act.

The revised Employees Provident Fund Amendment Bill was passed in Parliament on January 18, by a majority of 59 votes with 71 parliamentarians voting in favor.



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