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Govt committed to stabilise economy - PM

by Ranil Wijayapala

The Government is committed to stabilise the country's economy while solving the problems relating to the payment of pensions, Employees Provident Fund (EPF) and Employees Trust Fund (ETF) for retired workers, Prime Minister Ranil Wickremesinghe said yesterday.

Addressing the 26th and 27th Annual General Meeting of the Public Service United Nurses' Union at Hedamedura, Narahenpita, the Prime Minister said a series of problems has arisen relating to the payment of pensions and EPF and ETF due to the unstable economy.

The EPF and ETF Funds have faced bankruptcy due to provision of loans to the Government during the past and the Government was not in a position to repay the loans to these Funds, the Prime Minister said.

"There will be serious problems within next the few years when paying pensions, EPF and ETF for retired workers," the Prime Minister said. He said the Government is ready to discuss all these matters within the next few months with the Trade Unions and other representatives.

The Government is committed to improve the economy amidst these difficulties and it will have to confine expenditure to effectively solving these problems. "The Government is ready to find solutions by stopping the war and making every effort to usher in peace through negotiations," the Prime Minister added.

He said the economy recorded minus 1.3 per cent growth last year and the Government targets 3.7 per cent growth within this year.

The Prime Minister said people will have to undergo hardships when making efforts to improve the country's economy from the present grave situation.

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