PM awaits proposals from Central Bank and EPF on EPF, ETF merger

Ranil-Wickramasinghe

Dec 01, 2015 (LBO) – Sri Lanka’s Prime Minister Ranil Wickramasinghe told Parliament Tuesday that they have decided to obtain proposals from Central Bank governor and superintendent of EPF with regard to the management of EPF.

“During the discussions, unions said it is appropriate to maintain these two funds separately. They also said the EPF should be further managed under the Central Bank,” Prime Minister said.

“We only decided to obtain proposals from the Central Bank Governor and head of EPF after discussing this matter. Then those decisions will be presented to union leaders. After that only the decisions are forwarded to the cabinet and Parliament for approval,” Wickramasinghe said.

The finance minister delivering the budget speech also reiterated that the amalgamation of the EPF and ETF will only be pursued once a consensus has been reached between the government and the trade unions.