At the end of 2018, the EPF resolved to re-enter the stock market despite substantial losses and allegations of mismanagement on EPF’s equity investments in the past. The EPF provides two reasons for the decision: (i) that members will benefit from higher returns; (ii) that the increase in EPF loanable funds will soon outstrip government requirements for additional borrowing. This Insight proves that both these reasons are analytically flawed.
Verité Research and the World Bank developed a methodology to monitor online proactive disclosure of information, in accordance with the RTI Act. Verité Research then used this methodology to monitor and evaluate the online proactive disclosure of information across 55 public authorities in Sri Lanka. The report found that 20% of public authorities scored in the ‘moderately satisfactory’ band. The majority, 75% of public authorities scored within the ‘moderately unsatisfactory’ band and 5% scored ‘unsatisfactory’. No authority scored ‘satisfactory’ or ‘highly satisfactory’.
The report Right to Information: Discourse and Compliance in Sri Lanka was compiled in collaboration between Verité Research and Democracy Reporting International (DRI). Verité Research analysed the right to information in the Sri Lankan context while Democracy Reporting International detailed international best practices relating to proactive disclosure. The study examines the drafting of Sri Lanka’s RTI Act and existing laws that are inconsistent with its provisions. It recommends strategies to strengthen proactive disclosure of information, and to amend laws inconsistent with the RTI Act.