President Ranil Wickremesinghe said in Parliament yesterday that the Government has decided to bring the Employees’ Provident Fund (EPF) and Employees’ Trust Fund (ETF) under a new independent body.
He was responding to a question by Samagi Jana Balawegaya MP Eran Wickramaratne on setting up an independent public execution body, the President said it would be possible if the Opposition agrees to do so. The President further said that they are willing to discuss the matter with the Opposition in order to seek their proposals in this regard.
“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 President said.
He said that the EPF is currently handled by the Central Bank while the ETF is handled by the Labour Department.
