EPF and ETF well secured: Gitanjana
June 6, 2012
The EPF and ETF are well secured as 88 per cent of these funds are invested in government securities, Deputy Minister of Finance Gitanjana Gunawardena informed Parliament yesterday.

Minister Gunawardena made this point in response to the allegations made by the UNP with regard to the investments made by the EPF on the Colombo Stock Exchange.

Mr. Gunawardena said only 0.46 per cent of EPF funds are invested in non listed companies while 0.9 per cent is invested in trading. He said 8.4 per cent is invested in equities. The Minister said there are provisions for the EPF to make any investment which the Monitory Board considers fit. He therefore said amendments have been made to the EPF Act to make provisions for investments in various sectors including the banking sector.

Mr. Gunawardena who also responded to the allegations made by the Opposition with regard to the increase of liquor consumption said it had increased solely due the development of tourism sector.

Source: Daily Mirror - Sri Lanka