The Supreme Court has decided to consider the fundamental rights petition tomorrow (04) against the reduction of the interest paid in the Provident Fund to 9 percent. (Sri Lanka Latest News)
The petitioner says that the interest of 12 percent on investment of provident fund money in treasury bills and bonds has been reduced to 9 present.
Chaturanga Abeysinghe, a member of the Employees’ Provident Fund and a financial analyst, has submitted this petition.
President’s counsel M.A. Sumandhiran appeared for the petitioner. He said that the government is going to take a decisive decision on this matter on August 11.
Accordingly, he requested to give a short date to consider the case as it is an urgent case. Accordingly, it was decided to consider it the next day.
The petition states that the Employees’ Provident Fund has a contribution of 3.4 trillion rupees. The petitioner says that 90 present of it have been invested.
