18 January 2021 12:00 am
The Employees Provident Fund (EPF) is in danger once again as there seemed to be a repeat of what took place some years ago by investing a portion of it in the Colombo Stock Exchange, a Samagi Jana Balawegaya (SJB) MP said yesterday.
SJB Parliamentarian Eran Wickramaratne told a press conference that the encouragement made by the authorities urging the people to invest in the Colombo Stock Exchange makes one think that the mistake which was once made few years ago is going to be repeated.
“Thus losses incurred by EPF by investing in the stock market has been revealed in the Forensic Audit conducted in 2019. Besides losses incurred by EPF as of September 30, 2020, has been Rs.20 billion. This makes one wonder whether the history is going to be repeated,” he said.
“It is those who were involved in this mismanagement of funds should be behind bars,” he added.
Meanwhile, SJB MP Nalin Bandara Jayamaha said the present government will open the vehicle manufacturing plant in Kuliyapitiya soon.
“This plant was constructed during the Yahapalana Government and we hope the government will give the credit to former Minister Malik Samarawickrama, who was instrumental in bringing in this investment,” he said.