4 October 2023 01:20 pm Views - 2075
The Government is planning to bring the Employees' Provident Fund (EPF) and Employees' Trust Fund (ETF) under a new independent body, President Ranil Wickremesinghe told Parliament today.
“We are willing to discuss the matter with the Opposition and accommodate their proposals in this regard,” the President said.
“We have to discuss whether the EPF and ETF funds should be allowed to be invested abroad. We think it should be allowed. However, we are willing to discuss the matter with the Opposition.
"The EPF is currently administered by the Central Bank while the ETF is handled by the Labour Department," he added.
Responding to a question by SJB MP Eran Wickramaratne on setting up an independent public execution body, the President said it would be possible.
“We can discuss this matter and implement it if the Opposition agrees to it,” he said. (Yohan Perera and Ajith Siriwardana)