JVP To Petition SC Over EPF Loss Due To CBSL Bond Scam

JVP To Petition SC Over EPF Loss Due To CBSL Bond Scam
Please follow and like us:
Facebook
RSS
Follow by Email
Google+
http://www.lankac.news/jvp-to-petition-sc-over-epf-loss-due-to-cbsl-bond-scam/
LinkedIn
Twitter

The President of the Company Employees Union (ICEU) and former MP Wasantha Samarasinghe says that they are planning to move the Supreme Court against the Monetary Board of the Central Bank (CBSL) over the massive loss suffered by the Employees Provident Fund (EPF) due to bond scams. They have also demanded the appointment of an expert committee to ascertain the actual loss suffered by the EPF due to bond scams.

He said the Central Bank had lost Rs. 55,850 million due to bond scams during the tenure of Arjuna Mahendran as the Central Bank Governor.

“Although the loss to the Central Bank has been calculated, they have yet to calculate the loss suffered by the EPF,” Samarasinghe said, adding that Rs. 1,300 billion fund was the biggest one in South Asia with eight million members.

He said the responsibility of handling the EPF money as secondary investments was in the hands of the Central Bank Governor and the Monetary Fund, but there had been serious lapses on their part.

He further stated that they also would force the government to bring in new laws to handle the fund in a more responsible way.

Please follow and like us:
Facebook
RSS
Follow by Email
Google+
http://www.lankac.news/jvp-to-petition-sc-over-epf-loss-due-to-cbsl-bond-scam/
LinkedIn
Twitter

Leave a Reply