Take action regarding loss of Rs.15 billion from EPF or we take action – Unions tell Central Bank

January 14, 2017

The President of Inter-Company Employees Union and the Member of the Central Committee of the JVP Wasantha Samarasinghe said members of more than 200 trade unions will storm the Central Bank over the alleged loss of a sum of Rs. 15 billion from the EPF through the Central Bank bond scam. He said this action was agreed by the representatives of trade unions who met in Colombo on Sunday.

Mr. Samarasinghe said several reminders were sent to the Governor of the Central Bank asking him to take action regarding the loss to EPF due to purchase of 95% of Central Bank bonds by Perpetual Treasuries Company that has been involved in the bond scam according to COPE report. The Central Bank was given time till 18th January to respond but they have not received any favourable response from the Central Bank pointed out Mr. Samarasinghe.

He said trade unions decided to storm the Central Bank premises and also to take strict trade union action if the Central Bank management fails to take corrective action before next Wednesday.

Mr. Samarasinghe said the President, the Prime Minister, the Finance Minister and the Central Bank Governor had been requested to take action regarding the issue several times but there hadn’t been any favourable response.