Protesters pass on CB’s offer to address DDO and EPF concerns

The Central Bank yesterday said those who protested against the Domestic Debt Optimisation (DDO) programme and its potential impacts on the Employees’ Provident Fund (EPF) near the Colombo Fort Railway Station yesterday missed an opportunity to get their concerns clarified by the Central Bank officials.
The Central Bank in a statement said it gave an opportunity to the protesters to clarify their concerns on DDO but they did not take it.
Following is the full statement issued by the Central Bank.

During a protest held by a group of persons, who claimed themselves as representatives of the members of the Employees’ Provident Fund (EPF), today, i.e., on August 28, 2023, near the Colombo Fort railway station, against the potential impact to the EPF due to the implementation of the Domestic Debt Optimisation (DDO) programme, the said group of persons through the Colombo Fort Police Station requested for a meeting with the officials of the Central Bank of Sri Lanka (CBSL) to discuss the matters pertaining to DDO and the EPF.

In response to the said request, the Governor of the CBSL, through the officials of the Colombo Fort Police Station, has informed the said group of persons that a meeting will be convened today itself at 2:30 p.m., on the CBSL premises, with five persons representing the said group of persons. 
However, after communicating the details of the meeting, the said group of persons has informed the CBSL through the Colombo Fort Police Station of their inability to participate in the meeting. 

Hence, an opportunity was missed by the said group of persons to get their concerns clarified on DDO, the manner in which the member contributions will be guaranteed through the implementation of DDO and as to how an investment return at a minimum as it was given during the last several years to the members of the EPF will be given to them during the next few years as well by the implementation of DDO.