The decision by the Government to bring the Employees’ Provident Fund (EPF) under a new independent body is a timely move, said Central Bank Governor Dr. Nandalal Weerasinghe.
He said that though it was not one of their ‘duties’, since 1956, the EPF was vested with the Central bank and they managed it.
The IMF has also suggested that the EPF management be taken away from the Central Bank and an independent body be appointed to manage it.
President Ranil Wickremesinghe on Wednesday said in Parliament that the Government has decided to bring the Employees’ Provident Fund (EPF) and Employees’ Trust Fund (ETF) under a new independent body. The ETF is currently handled by the Labour Department.
The post Independent body to oversee EPF, ETF, a timely move – CB Governor appeared first on DailyNews.