Tuesday, July 21 2026
Tuesday, July 21 2026
MONETABRIEF – Sri Lanka's cabinet has approved appointing a committee to study the feasibility of brining the Employees Provident Fund and Employees Trust Fund, under a single tripartite governing board.
The EPF, set up in 1958 has 2.5 million members and assets over 4.9 trillion rupees. While its funds are invested by the Central Banks the Department of Labour registers members, enforces compliance and revers arrears.
The ETF set up in 1980 is has 3 million members and 637.5 billion in assets. It has a tripartite board representing employers and employees.
The Minister of Labour has proposed appointing a committee of senior officials to examine the feasibility and submit recommendations to bring all operations of the EPF and ETF under an integrated governance framework managed by a tripartite board representing the Government, employers, and employees, Cabinet spokesman Nalinda Jayatissa said.
This initiative aims to align with international best practices while ensuring comprehensive legal and financial security for the assets of the members, he said. (Colombo/June21/2026)
| US Dollar | 340.98 | Sell - |
| Euro | 391.44 | Sell - |
| Japan Yen | 2.114 | Sell - |
| Sterling | 458.31 | Sell - |
| AED | 91.58 | Indi - |
| 3 month bill | 10.13 | .08 ▼ |
| 12-m bill | 10.20% | .01 ▼ |
| Gold | $4035 | - - |
| ASPI | 21,417.80 | 7.19 ▼ |
Comments
Be the first person to comment and join the debate