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Govt. may extend period for refunding ETF money

8 November 2011 09:30 am - 0     - {{hitsCtrl.values.hits}}

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The government is considering the possibility of extending the period for the refunding of money of the Employees’ Trust Fund (ETF) from the present five years to ten years, Parliament was told today.

Deputy Finance Minister Geethanjana Gunawardane informed the House in this regard in response to a question by UNP MP Dayasiri Jayasekara.

“We are seeking the possibility of extending the term for ten years,” the Deputy Minister said today.

He said that the ETF had Rs.132 billion in terms of contribution by employees.  The contributors are paid an interest of 8.5 percent at the moment.  Altogether, there are over nine million members. (Kelum Bandara and Yohan Perera)


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