A law will be adopted by parliament to guarantee a minimum nine per cent interest for contributions from the Employees Provident Fund (EPF) in the next three years, labour minister Manusha Nanayakkara said.
This will be done to prevent any impact on the EPF from domestic debt restructuring, he said.
The required amendment to the EPF act will first go through the cabinet before its presentation in parliament, said the minister.
At a recent meeting with trade union representatives, president Ranil Wickremesinghe assured a minimum nine pc interest for the EPF.
He instructed minister Nanayakkara to take the steps required in that direction.
At the vote on the resolution on the DDR on Saturday (01), opposition MPs strongly criticized the government and Central Bank officials over attempts to lay their hands on the EPF.
The board governing the EPF is without any trade union representative to speak on behalf of the EPF members, opposition MPs noted.
