Eleven trade Unions have filed a fundamental rights violation petition before the Supreme Court against questionable investments of the Employees Provident Fund in unstable companies.
These trade unions are seeking the court to direct the attorney general to a full criminal investigation on the alleged fraud and alleged market manipulation with the said funds.
The petitioners are Free Trade Zone and General Services Employees Union, Ceylon Bank Employees Union, Inter Company Employees Union, Jathika Sevaka Sangamaya, Lanka Jathika Estate Workers Union, Commercial and Industrial Workers Union, Federation of Media Employees Union, Independent Port Employees Union, Insurance Employees Union, United General Employees Union, and Ceylon Estate Staffs Union.
The respondents cited are the Monetary Board of Sri Lanka, its Chairman cum Central Bank Ajit Nivard Cabraal, Finance Ministry Secretary Dr. P.B. Jayasundera, Members of the Monetary Board as well as the Commissioner General of Labour Pearl Weerasinghe, the Securities and Exchange Commission, and the Attorney General.
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