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Gevindu presses PM over EPF matter, discrepancy in interest payments
By Shamindra Ferdinando
Gevindu Cumaratunga, MP, has sought Prime Minister Dinesh Gunawardena’s intervention to ensure State Finance Minister Shehan Semasinghe on behalf of President Ranil Wickremesinghe, who holds the Finance portfolio, provided a satisfactory answer to several queries he raised regarding the status of the Employees Provident Fund (EPF) as at 31 Dec., 2022.
In a letter dated February 28, 2024, addressed to Premier Gunawardena, who is also the leader of the government Parliamentary group, the dissident SLPP lawmaker said that though State Minister Semasinghe was to answer his queries on EPF on Dec 12, 2024, he didn’t do so.
MP Cumaratunga told The Island that he had submitted the following queries to Parliament on Nov 14, 2023 expecting answers from the Finance Minister: (a) (i) the total amount earned by the EPF by investing its funds; (ii) the value of the total deposits of the fund and (iii) the total amount earned by investing its funds as a percentage of the value of the Fund’s total deposits?
(b) (i) the number of contributors to the EPF; (ii) the number of active contributors; (iii) the total value of the balances in the accounts of the active contributors and (iv) the total amount earned by the Fund from investing its funds as a percentage of the total value of the balances in the accounts of active contributors?
MP Cumaratunga has reminded Premier Gunawardena that he submitted the queries on EPF afresh on February 08, 2024 as prorogation of Parliament quashed the questions that had been submitted earlier. Now that the questions had been included in the agenda for March 5, Premier Gunawardena should ensure the State Minister answers them and take tangible measures to address the grievances of the EPF members.
The leader of the Yuthukama civil society organization on Feb 20 made representations to the Premier regarding the discrepancy in the payment of interests to EPF contributors in 2022.
Responding to queries, the lawmaker said that based on Central Bank data, he sought an explanation as to how EPF contributors were paid 9% interest whereas Central Bank employees received 29.27% interest in 2022.
MP Cumaratunga said that the State Finance Minister refrained from responding to questions though the Central Bank responsible for EPF operations provided the answers he sought.
The lawmaker said that those who received just 9 % interest could have been paid 11% interest as the Fund had Rs 21 bn after all 2022 payments were made in addition to Rs 53 bn in reserves. The MP claimed that Rs 21 bn plus a part of the reserves could have been utilized to pay 11% interest but the powers that be didn’t do so.
MP Cumaratunga has also urged Premier Gunawardena to inquire into the circumstances Central Bank employees were paid 29.27% interest in 2022 as their investments couldn’t have resulted in such big returns to meet obligatory payments to the governments and then pay such high interest. The MP has stressed the need to take punitive action against those responsible for paying high interest if such income hadn’t been not made during that year.
The parliamentarian said that political parties hadn’t paid sufficient attention to the issue at hand. Actually, the Finance Ministry owed the country an explanation, the MP said, the IMF couldn’t turn a blind eye to what was going on. The IMF shouldn’t be selective in its concerns here, the MP said.
The U.S. Embassy in Colombo welcomed the U.S. Sports Envoys to Sri Lanka, former National Basketball Association (NBA) and Women’s National Basketball Association (WNBA) players Stephen Howard and Astou Ndiaye, from June 8 through 14.
The Public Diplomacy section of the U.S. Embassy said that it would launch a weeklong basketball program intended to harness the unifying power of sports, made possible through collaboration with Foundation of Goodness and IImpact Hoop Lab.
While in Sri Lanka, Howard and Ndiaye, both retired professional basketball players, will conduct a weeklong program, Hoops for Hope: Bridging Borders through Basketball. The Sports Envoys will lead basketball clinics and exhibition matches and engage in leadership sessions in Colombo and Southern Province for youth aged 14-18 from Northern, Uva, Eastern and Western Provinces, offering skills and leadership training both on and off the court. The U.S. Envoys will also share their expertise with the Sri Lanka Basketball Federation, national coaches, and players, furthering the development of basketball in the country. Beyond the clinics, they will collaborate with Sri Lankan schoolchildren to take part in a community service project in the Colombo area.
“We are so proud to welcome Stephen and Astou as our Sports Envoys to Sri Lanka, to build on the strong people-to-people connections between the United States and Sri Lanka,” said U.S. Ambassador Julie Chung. “The lessons that will be shared by our Sports Envoys – communication, teamwork, resilience, inclusion, and conflict resolution – are essential for leadership development, community building, equality, and peace. The U.S. Sports Envoy program is a testament to our belief that sports can be a powerful tool in promoting peace and unity.”
SJB Colombo District MP Mujibur Rahuman in parliament demanded to know from the government the reasons for CEB suspending the leave of all its employees until further notice from Thursday.
MP Rahuman said that the CEB has got an acting General Manager anew and the latter yesterday morning issued a circular suspending leave of all CEB employees with immediate effect until further notice.
“We demand that Minister Kanchana Wijesekera should explain this to the House. This circular was issued while this debate on the new Electricity Amendment Bill was pending. There are many who oppose this Bill. The Minister must tell parliament the reason for the urge to cancel the leave of CEB employees,” the MP said.However, Speaker Mahinda Yapa Abeywardena prevented Minister Wijesekera responding to the query and said that the matter raised by MP Rahuman was not relevant.
The Chartered Institute of Personnel Management (CIPM) successfully concluded the 8th Annual CIPM Symposium, which took place on 31st May 2024. Themed “Nurturing the Human Element—Redefining HRM in a Rapidly Changing World,” the symposium underscored the pivotal role of human resource management (HRM) in today’s dynamic global landscape. Since its inception in 1959, CIPM has been dedicated to advancing the HR profession through education, professional development, and advocacy, solidifying its position as Sri Lanka’s leading professional body for HRM.
Ken Vijayakumar, the President of the CIPM, graced the occasion as the chief guest. The symposium commenced with the welcome address by the Chairperson, Prof. Arosha Adikaram, followed by the Web Launch of the Symposium Proceedings and Abstract Book by the CIPM President. The event featured distinguished addresses, including a speech by Chief Guest Ken Vijayakumar, President of CIPM, and an address by Guest of Honor Shakthi Ranatunga, Chief Operating Officer of MAS Holdings Pvt. Ltd., Sri Lanka.
The symposium also featured an inspiring keynote address by Prof. Mario Fernando, Professor of Management and Director of the Centre for Cross Cultural Management (CCCM) at the University of Wollongong, Australia.
Vote of Thanks of the inauguration session was delivered by Dr. Dillanjani Weeratunga, Symposium Co-chair.
The symposium served as a comprehensive platform for researchers to present their findings across a wide range of critical topics in HRM. These included Cultural Diversity and Inclusion, Talent Development and Retention, Ethical Leadership and Corporate Social Responsibility, Adapting to Technological Advancements, Mental Health and Well-being at Work, Global Workforce Challenges, Employee Empowerment, and Reskilling and Upskilling.
The plenary session was led by Prof. Wasantha Rajapakse. Certificates were awarded to the best paper presenters during the valedictory session, followed by a vote of thanks delivered by Kamani Perera, Manager of Research and Development.
The annual symposium of CIPM was a truly inclusive event, attracting a diverse audience that spanned undergraduates, graduates, working professionals, research scholars and lecturers. This widespread interest highlights the symposium’s significance in the field of HRM, offering a unique opportunity for everyone to network and learn from scholarly brains.The CIPM International Research Symposium was sponsored by Hambantota International Port, Sri Lanka Institute of Information Technology (SLIIT), E B Creasy & Co. PLC, and Print Xcel Company.
US sports envoys to Lanka to champion youth development
Rahuman questions sudden cancellation of leave of CEB employees
