EPF suffers a loss of Rs. 9.2 Bn up to June 2018

EPF suffers a loss of Rs. 9.2 Bn up to June 2018

Written by Staff Writer

22 Jan, 2019 | 9:08 pm

Colombo (News1st): The Employee’s Provident Fund managed by the Central Bank has lost a staggering Rs. 9.2 billion on its stock portfolio up to June 2018.

Quoting a report from the agency, newspapers reported that the stocks were purchased during different times, but among the most controversial were those made at the height of a stock market bubble that ended around 2011.

The Employees Provident Fund holds the hard earned money of the general public of this country.

Responsible officials have continued to turn a blind eye as the money in this fund continues to be misappropriated in the billions.

News 1st is on the watch.

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