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Private sector trade unions of Sri Lanka accuse government of trying to swindle EPF monies again

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Kumar

Kumar
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

Wed, Jan 4, 2012, 08:08 am SL Time, ColomboPage News Desk, Sri Lanka.

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says the government first attempted to swindle the EPF monies through the private sector pension bill, which was withdrawn due to massive protests by the workers.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.
http://www.colombopage.com/archive_11B/Jan04_1325644708JR.php

opfdo

opfdo
Vice President - Equity Analytics
Vice President - Equity Analytics

thanks kumar for the info

sriranga

sriranga
Co-Admin

After the amendment EPF money will pump into CSE?
May be the lifeline for the CSE? But............?

http://sharemarket-srilanka.blogspot.co.uk/

kaka


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics

Thanks kuma for sharing

wikum100


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

sriranga wrote:After the amendment EPF money will pump into CSE?
May be the lifeline for the CSE? But............?

so lets wait until 18th january to maket to be green Rolling Eyes

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