2110/’11
Hon. John Amaratunga,— Minister of Finance and Planning,—
(a) Will he inform this House separately—
(i) the value of the shares held by the Employees Provident Fund in Commercial banks in Sri Lanka or abroad on per bank basis ;
(ii) the dates on which each lot of shares were purchased on per company basis ;
(iii) the person and/or persons from whom such shares were purchased on per company basis ;
(iv) the value at which each lot of shares was purchased;
(v) if any such shares have been subsequently sold, the price at which they were sold and the persons to whom they were sold; and
(vi) the names, designations and academic qualifications of the nominees of Government and/or Employees Provident Fund to the Boards of Directors of each bank in which the shares are being held ?
(b) If not, why?
Asked Date
2012-04-03
Asked by
Hon. John Amaratunga, M.P.
Ministry
Finance and Planning
Legislature
Seventh Parliament of the D.S.R. of Sri Lanka
Session
First Session
ගරු (ආචාර්ය) සරත් අමුණුගම මහතා (ජාත්යන්තර මූල්ය සහයෝගිතා අමාත්ය සහ මුදල් හා ක්රමසම්පාදන නියෝජ්ය අමාත්යතුමා)
(மாண்புமிகு கலாநிதி சரத் அமுனுகம - சர்வதேச நிதிய கூட்டிணைப்பு அமைச்சரும் நிதி, திட்டமிடல் பிரதி அமைச்சரும்)
(The Hon. (Dr.) Sarath Amunugama - Minister of International Monetary Co-operation and Deputy Minister of Finance and Planning)
Hon. Speaker, on behalf of the Minister of Finance and Planning, I will reply to the Question asked by my distinguished Friend.
(a) (i) The values of shares held by EPF in local commercial banks as at 31.12.2011 are as follows:
|
Company |
No. of shares million |
Value (Rs. million)* |
|
Commercial Bank of Ceylon PLC |
71.7 |
7,631 |
|
DFCC |
23.8 |
3,329 |
|
Hatton National Bank |
29.9 |
4,956 |
|
National Development Bank |
14.4 |
1,229 |
|
Sampath Bank |
15.1 |
2,446 |
|
Seylan Bank PLC |
14.3 |
939 |
|
Seylan Bank (Non-voting) |
15.3 |
560 |
* Value including transaction cost
The EPF does not hold any shares abroad.
(ii) A large number of transactions have been carried out by EPF through the Colombo Stock Exchange - CSE - in purchasing banking sector shares.
If the Hon. Member of Parliament requests for the dates on which shares were purchased of a particular bank, such information can be provided because it is such a large amount of information.
(iii) Since the transactions of the CSE are carried out through an automated system, the seller linked to each transaction cannot be identified unless it is disclosed by the CSE.
(iv) A large number of transactions have been carried out by the EPF through the CSE in purchasing banking sector shares.
Hon. Member, if you request information about a particular transaction of a particular bank, such information can be provided.
(v) In 2007 and 2008, EPF sold 174,600 shares of the National Development Bank.
Since the transactions of the CSE are carried out through an automated system, the seller linked to each transaction cannot be identified unless it is disclosed by the CSE.
(vi) EPF has not appointed any person to the Board of Directors of any bank. The Government nominees to the banks in which the EPF shares are held are:
NDB - Ms. G.D.C. Ekanayake, Director-General, Department of National Budget, Ministry of Finance and Planning.
DFCC - Mrs. H.M.N.S. Gunawardana, Director-General, Department of Legal Affairs, Ministry of Finance and Planning.
Sampath Bank - Ms. Dhara Wijayathilaka, Secretary, Ministry of Technology and Research.
HNB - Dr. Willie Gamage, Secretary, Ministry of State Resources and Enterprise Development.
Commercial Bank - Mr. Lakshman Hulugalle, DG, Media Centre for National Security and the DG for NGO Secretariat.
(b) Does not arise.
Answered Date
2012-11-21
Answered by
Hon. (Dr.) Sarath Amunugama, M.P.
Handbook of Parliament
The System of Elections in Sri Lanka
How Parliament Works
Business of Parliament
Copyright © The Parliament of Sri Lanka.
All Rights Reserved.
Design & Developed by TekGeeks
