AG already filed action on UPF: PM

5 July 2018 06:35 am - 6     - {{hitsCtrl.values.hits}}

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The Attorney General had already filed legal action to recover the additional revenue of Rs 140 million earned by Perpetual Treasuries by selling bonds to University Provident Fund (UPF), Prime Minister Ranil Wickremesinghe told Parliament yesterday.

Mr Wickremesinghe said this in response to a query by JVP MP Nalinda Jayatissa in the House last afternoon.

The Premier said the Government had already frozen Rs 11 billion held by Perpetual Treasuries. This amount, he said belonged to the Central Bank.

The Prime Minister said that the revenue earned by the University Provident Fund in 2014 was Rs 695,364,000.

“It earned Rs 1.059 million in 2015, Rs. 1,404,336 million in 2016, Rs 1,404,336 million in 2017 and Rs 741,174,000 as of June 30 2018,” he said.

He said the interest rate which UPF had earned from bonds had ranged from 10 per cent to 14 per cent.

The Prime Minister said that the yield for bonds have declined in 2017, while yield in 2012 to 2014 had been high as interest rates were greater during this period.

Mr Wickremesinghe said the total value of UPF as of January 1, 2018, had been Rs 38 billion.

He said there were 39,822 UPF account holders out of which 22,718 were active accounts, while 17,104 accounts are inactive. (Yohan Perera and Ajith Siriwardana)

  Comments - 6

  • Haramanis Thursday, 05 July 2018 06:56 AM

    Mr Prime Minister. Have you filed action against robbers such as Ravi and the footnote gang including Senasinghe????

    Sunil Thursday, 05 July 2018 07:00 AM

    It is not how much these provident funds have earned that matters. What matters is how much your cronies have pilfered from the hard earned money of the people of this nation, under your blessings and active support. Do you seriously believe that justice would be done, considering how difficult or almost impossible it is to bring that notorious crook to Sri Lanka to face charges levelled against him? In simple terms, leave as soon as you can, without pulling the country into an abyss from which it will be impossible to get out.

    Matram pallo Thursday, 05 July 2018 07:33 AM

    What about MR

    dickie bird Thursday, 05 July 2018 08:37 AM

    When will the AG take action against the Mastermind?The Big Thief speaking out action taken against smaller thief.When will the PM announce that action has been taken against Him?Kekille Judgement.

    asela Thursday, 05 July 2018 10:21 AM

    Ranil where do you stand on this case. You masterminded the whole robbery but now you are trying to be the Policeman and a saint

    Jak Thursday, 05 July 2018 01:09 PM

    Upf already released a statement saying they had NO transactions with Perpetual. So what's this about? No one informed PM??


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