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* Sri Lanka's private sector retirement fund yet to publish accounts for 2011 - Opposition MP
Fri, Feb 28, 2014, 07:46 pm SL Time, ColomboPage News Desk, Sri Lanka.

Feb 28, Colombo: Parliamentarian of Sri Lanka's main opposition United National Party (UNP), economist Dr. Harsha de Silva says the private sector retirement fund, Employees' Provident Fund (EPF) is yet to publish its accounts for the year 2011.

Although the issue has been constantly raised in parliament, the EPF has failed to release its annual audit reports, Dr. de Silva says.

The lawmaker explained that after he had continuously raised the EPF's failure to present its annual reports to parliament, the Parliamentary Accounts Committee (PAC) had summoned the Fund in January this year.

However, the session the PAC had with the EPF had ended abruptly before the committee members were able to get answers to their questions from the Fund, Dr. de Silva noted.

He has added that the public had a right to know how the EPF had invested monies collected from the private sector workers in the country.

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.

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