January, 30, 2020
The Deputy Governor of the Central Bank of Sri Lanka, H A Karunaratne today (30) stated that the Employees' Provident Fund had been active even during the last quarter and added that, even though EPF wanted to purchase certain stocks, the required parcels were not available in the market.
He revealed this in response to a question put forward by a journalist during the monetary policy review press conference held at the Central bank this morning (30).
“Even during the last quarter, we have been in the market. But unfortunately, though EPF wanted to purchase certain stocks that required parcels were not available in the market. But it doesn’t mean that we have not been in the market. We have our principles, norms, and strategies so depending on that we are in the market,” Karunaratne stated.
"Again with regard to the loss-making stocks, depending on the decisions of the investment committee timely actions will be taken,'' he added.
Journalist - Now the EPF portfolio published yesterday shows that you have not purchased anything except for the Seylan Bank rights issue. So now you are saying that EPF has been active. So either you are wrong or the portfolio you published yesterday is wrong?
Deputy Governor- Seylan Bank rights issue is also an equity market transaction.
Journalist -Other than that have you engaged in any other transactions?
Deputy Governor- According to my understating, we have been engaging in other transactions.