Lankapage Logo Recent Top Stories
Go Home Home Serving the Sri Lankan community globally since 2000
go to

Leading News from Sri Lanka::

* Sri Lanka parliamentary committee fails to resume investigation into retirement fund monies
Tue, Dec 10, 2013, 12:04 am SL Time, ColomboPage News Desk, Sri Lanka.

Dec 09, Colombo: Sri Lanka's main opposition United National Party (UNP) says the Parliamentary Accounts Committee (PAC) has failed to resume the investigation into the controversial investments of monies in the Employees Provident Fund (EPF), the retirement fund servicing the employees in Sri Lanka's corporate and private sector.

UNP parliamentarian Dr. Harsha de Silva told the media that the PAC has failed to resume the investigation for the last 11 months.

Explaining that the PAC had abruptly ended inquiries into controversial investments made by the EPF monies in the Colombo Stock Exchange on February 6th, the MP said the matter has raised serious doubts about the financial irregularities in the country.

Trade unions in the country have accused the authorities of swindling monies of the working masses in the Fund.

According to Dr. de Silva, the EPF had also not submitted its audited account reports to Parliament due even for the year 2011.

EPF savings were reportedly invested in companies such as Hotel Galadari and Laugfs Gas.

The Central Bank, which administers the country's largest private sector retirement fund, has asserted that t no fraudulent stock market transaction has ever been made by the EPF and that all transactions have been carried out with utmost care, diligence and professionalism.

ColomboPage - Recent 10 Stories
Sri Lanka cricket authority has no contact with national coach
-- [4 minutes ago]
Sri Lankan Muslim religious body to meet President and Chief Prelates to discuss suppression of Muslim community
-- [30 minutes ago]
State doctors in Sri Lanka threaten to strike from Tuesday
-- [54 minutes ago]
Sri Lanka’s main opposition to raise privilege issue in parliament and complain to the IPU
-- [1 hour and 0 minutes ago]
Slots in Sri Lankan parliament for Matara and Kurunegala districts reduced
-- [1 hour and 5 minutes ago]
International media watch dog condemns an attack on Tamil journalist in Northern Sri Lanka
Sri Lanka's private sector retirement fund yet to publish accounts for 2011 - Opposition MP
Sri Lankan government denies allegations that Muslims displaced by naval deployment
Sri Lanka appoints new envoys to US and India
Ten killed when tractor falls into a canal in north central Sri Lanka

Copyright © 2000, 2014 by (LLC) :
The news and other contents on ColomboPage are copyrighted property of, LLC. Any unauthorized use of any information on ColomboPage may constitute a violation of copyright laws. You need written permission to reproduce, republish, post, transmit, broadcast or distribute, material from this site from, LLC. However, news organizations or broadcasters in Sri Lanka may republish the news items in ColomboPage with proper acknowledgment to ColomboPage.