GL says claims that DDR will not affect EPF are false

Tuesday, 4 July 2023 01:01 - - {{hitsCtrl.values.hits}}

Calls entire process of domestic debt restructuring a deception
Claims several SLPP MPs gave vote on DDR the miss as it did not align with their conscience
Says his group will on Wednesday directly express their concerns to Speaker on the faulty voting system in Parliament

Freedom People’s Congress member MP Prof. G.L. Peiris slammed the Government’s efforts to restructure domestic debt over the weekend and said its claims that domestic debt restructuring efforts will have no impact on the Employees Provident Fund (EPF) are false.

Peiris said the entire process of domestic debt restructuring is a deception. “The EPF belongs to the people of this country. Its fate was our main concern. The Government kept insisting the EPF will not be negatively affected. This is false,” he said.

The MP accused the Government of falsely claiming the EPF would only participate in the process voluntarily if it so wishes. Peiris said the Governor of the Central Bank has confirmed the income tax paid by the EPF to the Government will double if it refuses to participate in the restructuring process. “How will the EPF maintain the current interest rate to benefit the people if it is slapped with the increased tax hike? The beneficiaries will be directly affected,” he claimed.

Prof. Peiris said as a result of this several prominent figures of the ruling Sri Lanka Podujana Peramuna (SLPP) were absent during the vote held on Saturday during a special session of Parliament. Peiris expressed that the move might not have resonated with their conscience, possibly accounting for their absence during the crucial vote. “It was evident these MPs did not support the proposal,” he said.

Peiris also expressed his displeasure that the proposal presented to the cabinet on domestic debt restructuring has given unlimited powers to the Minister of Finance.

The MP said the voting system was faulty on the day and several MPs were not able to cast their vote successfully. He said MPs such as Kandy district parliamentarian Wasantha Yapa Bandara, for example, had attempted several times but failed to cast their vote.

“We will personally express our displeasure to the Speaker on the matter when the Parliament gathers on Wednesday,” he said. “These are attempts to not only deceive the people but MPs as well,” he added.