Former UNP Deputy Leader MP Ravi Karunanayake has warned the government to exercise extreme caution in making any changes to the Employees Provident Fund.
Speaking in Parliament, he said the combined assets of the Employees Provident Fund and the Employees Trust Fund have now exceeded Rs. 6.2 trillion, a figure that is higher than the value of the Colombo Stock Exchange.
The MP cautioned that any unilateral structural changes to the funds, made without transparency or stakeholder consent, could endanger individual property rights as well as the stability of the country’s financial system.
Karunanayake also said he would question the Finance Minister under Standing Orders on the specific socio-economic factors that led to the sudden policy shift.
