Cabinet approval received to amend ETF Act
February 7, 2023 11:09 am
The Cabinet of Ministers has given its approval to give directives to the Legal Draftsman to prepare a bill to amend the Employees’ Trust Fund (ETF) Act.
In his 2023 Budget speech, President Ranil Wickremesinghe proposed to set up a health insurance fund for private sector employees similar to that of the ‘Agrahara’ insurance scheme from which a large number of government employees have benefitted.
Accordingly, the necessary provisions will be made by amending the ETF Act No. 46 of 1980 in order to implement the aforementioned budget proposal.
President Wickremesinghe, in his capacity as the Minister of Finance, Economic Stabilization and National Policies, tabled a proposal at the Cabinet meeting on Monday (Feb 06), that the Legal Draftsman be instructed to prepare a bill to amend the ETF Act.