The Hon. Rohana Bandara
Hon. Rohana Bandara raised concerns about alleged mismanagement of the Employees’ Provident Fund, including issues previously noted by the Auditor General in relation to investments. He asked what action had been taken on those findings and called for greater transparency for EPF members on investment locations, returns, and future plans, including through online disclosure. He also sought clarification on when the 2023 amendment Bill relating to the EPF would be brought into force.
Verbatim record (translated)
Machine-translated from Sinhala / Tamil / English¶ 01 Thank you, Hon. Minister. The EPF is the largest fund in Sri Lanka, managing monies coming together from employees’ wages and employers’ contributions. Over time, there have been allegations about investments in the stock market and in various institutions, and even the Auditor General highlighted issues of mismanagement. I wish to know whether you have taken action regarding such mismanagement.
¶ 02 Another problem is that although investments are made, the real owners—the members—have little access to information on where funds are invested, what returns are earned, or future investment plans. Much of this could be disclosed on the website, but information is largely withheld. In 2023 a Bill to amend laws relating to the EPF was presented. Regarding the Auditor General’s findings on mismanagement, what actions have been taken? And when will that amendment Bill you mentioned be brought into force?
Provenance
- Source
- Hansard, Tuesday, 22 July 2025 ·No. 1753443916033328 ·English daily/uncorrected Hansard
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Cite as: The Hon. Rohana Bandara. 10th Parliament, Parliament of Sri Lanka. Hansard, 22 July 2025. No. 1753443916033328. Politick, https://staging.politick.io/lk/speeches/13570