Jan 04, Colombo: Private sector trade unions in Sri Lanka say the government is trying once again to swindle monies in the retirement fund of the private employees, the Employees' Provident Fund (EPF).
The Inter Company Employees' Union (ICEU) says the government has found a new way to take the EPF monies after the first attempt by the government to swindle the monies failed due to workers' protests.
Head of the ICEU, Wasantha Samarasinghe says the government first attempted to swindle the EPF monies through the private sector pension bill, which was withdrawn due to massive protests by the workers.
He noted that the government was now trying to swindle the monies by introducing amendments to the EPF Act.
He pointed out that the government was preparing to present the amendments to the EPF Act before parliament on the 18th.
According to Samarasinghe, the proposed legislation would enable the government to utilize monies in the Fund for its construction work, purchasing of lands and shares in the stock market.
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