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* Sri Lanka's private sector retirement fund statements published on-time
Thu, Mar 27, 2014, 12:28 pm SL Time, ColomboPage News Desk, Sri Lanka.

Mar 27, Colombo: The financial statements of Sri Lanka's private sector retirement fund for the past years have been published appropriately in many newspapers, the Central Bank said.

The monetary authority administering the Employees' Provident Fund (EPF) rejected the allegations that the fund has not published its financial statements for the years 2011 and 2012.

Parliamentarian of Sri Lanka's main opposition United National Party (UNP), economist Dr. Harsha de Silva has said in parliament that the Fund (EPF) is yet to publish its accounts for the year 2011.

The Central Bank issuing a statement Wednesday said the EPF on several occasions has informed the public that its financial statements and key performance indicators for 2011 and 2012 have already been published in many newspapers on 10 May 2012 and 28 June 2013, respectively, in three languages.

"Nevertheless, certain Members of Parliament have been repeatedly making allegations that the EPF financial statements have not been forthcoming, possibly with the intention of discrediting the EPF and realizing their own political ends," the Central Bank said.

The Authority said the financial statements for 2011 have been published in the newspapers on 10th May, 2012. The statements have been audited by the Auditor General within the time frame as provided in the law and the audited financial statements of the EPF for 2011 along with the Annual Report have been submitted to the Cabinet by the Minister of Labor and Labor Relations who will present them to parliament shortly.

The financial statements for 2012 have been published in the newspapers on 28th June 2013. Those statements are currently being audited by the Auditor General, and the EPF is ready to submit the Annual Report to the Minister of Labor and Labor Relations once the audit report is finalized, the Bank explained.

The financial statements for 2013 have also been prepared and they have already been approved by the Monetary Board, the Central Bank said adding that the statements have now been submitted to the Minister of Finance and Planning and Minister of Labor and Labor Relations.

The Central Bank reiterated that it has also taken all measures as provided in the Act regarding the annual report publication, as well as taken all necessary steps to ensure the safety and stability of the Fund.

The authority advised the Fund's membership not to be misled by politically motivated statements made by certain politicians.

** Related Story :: Sri Lanka\'s private sector retirement fund yet to publish accounts for 2011 - Opposition MP

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