Harsha says CB statement on EPF loaded with political insinuations

Tuesday, 16 September 2014 00:17 -     - {{hitsCtrl.values.hits}}

UNP MP Dr. Harsha de Silva yesterday alleged that the Central Bank statement on the EPF’s Rs. 10 billion unrealised gains on stock market investments was loaded with political insinuations and the accountability process of the Rs. 1.3 trillion fund wasn’t over yet. Following is the full text by UNP MP de Silva: We note with concern the statement issued by the EPF Department of the Central Bank of Sri Lanka loaded with political insinuations on purported capital gains of Rs. 10 billion as at mid-2014. We state with responsibility that the last time EPF submitted its share portfolio to Parliament with cost and market price was in mid-2012. Unrealised losses for any period after that had to have been calculated by the Auditor General during their audits of the EPF. Therefore, to make politically-biased allegations implicating the Auditor General is totally unacceptable. In terms of Parliamentary scrutiny of EPF, the fact is that the Committee on Public Accounts (COPA) examination for 2010 has not yet been concluded, given the multiple postponements of the sittings by the Chairman, let alone the examination for 2011 which were qualified by the Auditor General. Furthermore, the audited accounts for the years 2012 and 2013 have not yet been submitted to Parliament as required by law, notwithstanding falsehoods stated in the statements issued by the Central Bank. We reiterate that the serious allegations of corruption in EPF transactions in the Colombo Stock Exchange will be investigated by COPA and appropriate action will be taken. It is hoped that in the future the Central Bank will respect the office of the Auditor General when issuing statements on the Rs. 1.3 trillion retirement fund of millions of hardworking people of this country.