The Cabinet of Ministers has given its approval to direct the Legal Draftsman to prepare a bill to amend the Employees’ Trust Fund (ETF) Act, in accordance with the proposal made by President Ranil Wickremesinghe during the 2023 Budget speech. The proposal aims to establish a health insurance fund for private sector employees, similar to the ‘Agrahara’ insurance scheme that has benefitted a large number of government employees.
The ETF Act No. 46 of 1980 will be amended to incorporate the necessary provisions to implement the budget proposal, which was tabled by President Wickremesinghe as the Minister of Finance, Economic Stabilization, and National Policies during the Cabinet meeting on Monday, February 6th.
