Lankapage Logo Recent Top Stories
CP 14 YEARS
Go Home Home Serving the Sri Lankan community globally since 2000
go to LankaPage.com

Leading News from Sri Lanka::

* Cabinet approval sought to monitor Sri Lanka private sector retirement fund
Mon, Mar 3, 2014, 02:18 pm SL Time, ColomboPage News Desk, Sri Lanka.

Mar 03, Colombo: The Labor Ministry of Sri Lanka is waiting for recommendations from the National Labor Advisory Council (NLAC) to seek Cabinet approval to monitor the private sector retirement fund, the Employees Provident Fund (EPF).

The Labor Ministry will prepare the cabinet memorandum to monitor the investment of monies of the EPF.

The Ministry said that it believes EPF monies should be invested with the consent of the Labor Ministry, employers and the government.

Labor Ministry Secretary W.J.L.U. Wijeweera has said the NLAC has been consulted on the matter and appropriate steps would be taken once the recommendations are made.

Decisions on the EPF are currently vested with the Monetary Board of the Central Bank of Sri Lanka.

However, there have been many questions raised by opposition political parties on the investments made by the EPF.

ColomboPage - Recent 10 Stories
Indonesia, Sri Lanka to form parliamentary cooperation group
-- [1 hour and 14 minutes ago]
Fitch: Singer Sri Lanka rating unaffected by shareholder change
-- [1 hour and 32 minutes ago]
Pakistan's new Premier assures continued assistance to Sri Lanka
-- [2 hours ago]
President urges International Community to consider Sri Lanka's progress in reconciliation, Human Rights
-- [3 hours ago]
Sri Lanka Ministry of Power and Renewable Energy says power supply in the country normal amid strike
Education Ministry to obtain police assistance against trade unions recruiting students for protests
Sri Lanka Navy arrests 9 Indian fishermen poaching in Sri Lankan waters
Motor Traffic (Amendment) Bill proposes tough action against errant drivers
Local government elections in January, government has no intention to postpone, Premier says
World Federation of Exchanges CEO visits Sri Lanka's Colombo Stock Exchange

Copyright © 2000, 2014 by LankaPage.com (LLC) :
The news and other contents on ColomboPage are copyrighted property of LankaPage.com, 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 LankaPage.com, LLC. However, news organizations or broadcasters in Sri Lanka may republish the news items in ColomboPage with proper acknowledgment to ColomboPage.