EPF suffers nearly Rs. 20 billion in direct losses from investments
- CNL Reporter
- March 4, 2025
- Investment
- EPF suffers nearly Rs. 20 billion in direct losses from investments
- 0 Comments
The Employees’ Provident Fund (EPF) has suffered close to Rs. 20 billion in losses from bond and equity market investments, with an additional Rs. 12 billion in foregone earnings, as a result of bypassing due process and investing in unlisted equity, according to a new report by Verité Research.
The report has calculated these losses and foregone earnings by analysing the findings of two forensic audit reports commissioned after a series of investigations into the infamous ‘bond scam’ of 2015.
Bond market losses: The EPF incurred losses of Rs. 9,826 million (2002-2015) as a result of acquiring bonds at unfavourable prices.
Equity market losses: The EPF incurred losses of Rs. 9,859 million (1998-2017) from irregular investments in the equity (share) market, most of it a result of the ‘pumping-and-dumping’ of shares to the EPF.
