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Sri Lanka opposition wants to audit Treasury, EPF

COLOMBO (EconomyNext) – Sri Lanka main opposition wants to audit the Treasury and a state managed provident fund of private sector workers if they win presidential polls next week, an opposition legislator said.


Harsha de Silva, from the main opposition United National Party said they would conduct an independent audit of the Treasury.

"We want to find the correct situation regarding the Treasury from the audit," de Silva told reporters in Colombo Monday.

"In countries like Greece, debt and budget data changed after the government changed."

De Silva had raised queries about Sri Lanka’s foreign debt and also budget numbers.

He said an independent audit of Sri Lanka’s Employees Provident Fund would also be made where a parliamentary committee with oversight has been denied an opportunity to fully questions its managers

The EPF is managed by Sri Lanka’s Central Bank.

Central Bank Governor Nivard Cabraal told a business forum in Colombo Friday that the EPF’s stock investments now had unrealized capital gains instead of losses with a recent pick in the market and denied any wrongdoing.

Responding to reporters’ questions whether an audit of Treasury data will scare away investors, de Silva said any new administration would be able to establish confidence within two weeks.





His party had the ability to work with the international community, he said.

Sri Lanka’s expropriation of private property by an ad hominem law had scared investors he said.

But any new administration would be committed to safeguarding private property, he said.

He said good macro-economic fundamentals would also be maintained with stable exchange rates and low inflation.


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