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By Rathindra Kuruwita Unless Sri Lanka addressed its governance issues, the country would have to restructure its debt again like most countries that had unsustainable levels of corruption, Executive Director of Verité Research Nishan de Mel said in a recent televised interview. Dr. De Mel said that as the government had decided to pay the […]
The Sri Lanka Banks’ Association has emphasized that by optimizing domestic debt, the hard-earned funds of the working people in the country will be safeguarded from potential losses. During an interview on the ‘101 Katha’ program,produced by the Presidential Media Division, Russel Fonseka, the Chief Executive Officer of the Bank of Ceylon and a member […]
By Saman Indrajith The Employees’ Provident Fund (EPF) would suffer a loss of Rs 12 trillion owing to the government’s domestic debt restructuring programme, Opposition and SJB leader Sajith Premadasa told Parliament yesterday. Premadasa said that the independent think tank, Verite Research
[…]The post Involuntary & Inequitable DDO appeared first on Colombo Telegraph.
[…]The post Non-Recurrence Requires Accountability appeared first on Colombo Telegraph.
Parliament disregarded COPE recommendation for PSC By Shamindra Ferdinando Eksath Janaraja Peramuna (EJP) leader and SJB MP Patali Champika Ranawaka, MP, has called for the setting up of a special commission to investigate those who bankrupted the economy. Ranawaka said that those who had served as Finance Ministers, Governors of the Central Bank and members of the […]
by Jehan Perera President Ranil Wickremesinghe notched up another achievement when Parliament ratified the Domestic Debt Restructuring (DDR) programme with a majority of 60 votes, with 122 members voting for and 62 against, with 40 abstentions. Parliamentarians who would need to think about their re-election prospects would have been reluctant to vote for a programme […]
By N Sathiya Moorthy In his Hajj message last week, President Ranil Wickremesinghe called upon all Sri Lankans to remain ‘united in a common cause to achieve our domestic, regional and global goals’. Yet, a day later, his leadership was seen as having split the political Opposition over the domestic debt restructuring issue in Parliament, indicating […]
By Shamindra Ferdinando Dissident SLPP MP Gevindu Cumaratunga has strongly opposed the government move to place the debt-restructuring programme under President Ranil Wickremesinghe’s control as the latter does not represent Parliament. Addressing Parliament on Saturday (01), the leader of civil society group ‘Yuthukama’ pointed out that the Resolution on the Domestic Debt Optimisation (DDO) was [...
frowns on privileged status to wealthy investors, bid to restore dissolved LG bodies By Shamindra Ferdinando Top Opposition Spokesman Prof. G. L. Peiris yesterday (02) demanded that the government cancel, what he called, the deeply flawed ‘Aswesuma’ social security project, to pave the way for a fresh scheme. Addressing the media at the Nawala Office […]
about burden falling on superannuation funds esp #EPF without […]
සේවක අර්ථ සාධක අරමුදල, සේවක භාරකාර අරමුදල සහ බැංකු ක්ෂේත්රය සුරක්ෂිත බවට සහතික වූ අග්රාමාත්ය දිනේෂ් ගුණවර්ධන මහතා ජූලි පළමු වෙනිදාට යෙදෙන මහජන බැංකුවේ උපන් දිනයට අද පාර්ලිමේන්තුවේදී සුබ පැතුම්The post සේවක අරමුදල් හා බැංකු ක්ෂේත්රය සුරක්ෂිත බවට අගමැති සහතික වෙයි appeared first on ITN News.
Sri Lankan state can’t allow even a small bank to collapse because that will trigger a bank run with a devastating impact on the economy. Governor of the Central Bank of Sri Lanka CBSL) Dr. Nandalal Weerasinghe said, on Thursday night, taking part in a televised discussion. Dr. Weerasinghe said that Domestic Debt Restructuring (DDR) […]
By Saman Indrajith Most opposition political parties yesterday vowed to defeat the government’s proposed debt restructuring plan when Parliament convenes today at 9.30 a.m.Secretary General of the Parliament, Kushani Rohanadeera said she informed all Members about the meeting, according to the instructions of Speaker Mahinda Yapa Abeywardena. The Speaker has also issued a Gazette Extraordinary [&#...
Banks, which pay taxes over 50%, least affected By Sanath Nanayakkare If the Employees’ Provident Fund (EPF) and other pension funds did not wish to participate in the proposed domestic debt restructuring process, there will be an application of higher annual income tax of 30%, Central Bank
දේශීය ණය ප්රශස්තකරණයේ දී දැනටමත් 50%කට වැඩි බදු මගින් භාණ්ඩාගාරයට සහ ආර්ථිකයට දායක වන බැංකු පද්ධතිය මත තවදුරටත් බරක් පටවන්නේ නැති බවත් මිලියන 57ක් වන මෙරට රාජ්ය සහ පෞද්ගලික බැංකුThe post මිලියන 57ක මෙරට බැංකු තැන්පතු ආරක්ෂා කරන බවට මහ බැංකු අධිපතිගෙන් සහතිකයක් appeared first on ITN News.
The Committee on Public Finance (COPF) is scheduled to meet officials from commercial banks, the Employees Provident Fund (EPF) and other relevant institutions for the second session of discussions on the proposed domestic debt restructuring process today (29 June).
Central Bank governor says the 9% interest paid on the Employee Provident Fund (EPF) deposits will not be affected by the domestic debt restructuring (DDR) process.
President Ranil Wickremesinghe assured that the restructuring of domestic debt will have no impact on the membership balance of any public funds, including the Employees’ Provident Fund (EPF). He emphasized that the rate of return for superannuation funds will not be affected
A Fundamental Rights (FR) petition has been filed before the Supreme Court seeking an order preventing the government from waiving off the loans obtained from the Employees Provident Fund (EPF) and Employees Trust Fund (ETF), during the domestic debt restructuring process.
[…]The post Ranil’s Economic Strategy: Will His Prioritisation Of Targets Misfire? appeared first on Colombo Telegraph.
The Sectoral Oversight Committee on Foreign Employment and Labour has recently directed the Central Bank to submit a report detailing the institutions in which funds belonging to the Employees Provident Fund (EPF) have been invested. In addition, the committee has decided to summon experts
Opposition MP Dr. Harsha de Silva has highlighted the critical considerations surrounding Domestic Debt Optimisation and its impact on the members of the Employees Provident Fund (EPF). Speaking on behalf of the Opposition, recently, de Silva emphasised the need to prioritize the interests of EPF
By Shamindra Ferdinando The Opposition yesterday (08) lambasted Speaker Mahinda Yapa Abeywardena for what it called a move to disrupt the Committee on Public Finance (CoPF) ahead of the vote on a Bill titled ‘Central Bank of Sri Lanka.’ Top spokespersons for the Nidahas Janatha Sabhawa (NJS) Prof. G.L. Peiris, MP, and the main Opposition Samagi […]
Tuesday 2nd May, 2023 Another May Day has come and gone. The organisers of the International Workers’ Day celebrations, in this country, rarely mention the Haymarket Riot in Chicago (1886), and benefits that accrued therefrom to workers the world over, much less commemorate the brave workers who have laid down their lives in the US […]
The Resolution for the implementation of the arrangement under the Extended Fund Facility (EFF) of the IMF for Sri Lanka was passed in Parliament by a majority of 95 Votes with 120 voting in favour and 25 voting against. Except for AHM Fowzie all other SJB members were not present in the chamber at the […]
The Resolution for the implementation of the arrangement under the Extended Fund Facility (EFF) of the IMF for Sri Lanka was passed in Parliament by a majority of 95 votes with 120 voting in favour and 25 voting against it. The Parliamentary debate on the agreement reached with the IMF started after President Ranil Wickremesinghe made […]
Steps are being taken to prepare the new integrated labour law to avoid the complexities of the existing employment statutes, Minister of Labour and Foreign Employment, Manusha Nanayakkara, recently told the Ministerial Consultative Committee on Labour and Foreign Employment affairs. The Minister said they will start taking opinions and suggestions of all relevant parties from […]
The Government is to consider restructuring Sri Lanka’s domestic debt, but a final decision is yet to be taken, President Ranil Wickremesinghe told Parliament today. He said that all aspects will be looked into when restructuring Sri Lanka’s domestic debt. “Some banks are saying they will not be able to face this. Then they must […]
By N Sathiya Moorthy Now that President Ranil Wickremesinghe has promised to table the IMF bail-out documents in Parliament on 25 April, there will be some relief for citizens wanting out of the meaningless politico-electoral speculation of the time. It could well be back to a more serious discourse on the economy, economic recovery – […]