FM Sharma asks EPF to focus its investable projects in productive sector

Finance Minister Janardan Sharma today stressed the need for the Employees' Provident Fund (EPF) to focus its investable projects in the productive sector, adding it creates a basis for sustainable economic growth of the country.

Inaugurating the 60th anniversary of the Employees' Provident Fund in a virtual means, Finance Minister Sharma said, "The Fund should utilize its clients' funds in the productive sector, which will help build up national capital. Such investments will create job opportunities and help reduce the trade deficit."

He also underscored the need for the Fund to expand the scope of benefits entitled to its clients by investing their bonus in the productive sector.

The Finance Minister emphasized the need for the Fund to focus on its good governance and make it tech-savvy.

The total investment of the Fund for the fiscal year, 2020/21 has hit Rs 436.05 billion and at present, it has Rs 398 billion in stock. Likewise, it has Rs 1.58 billion in pension funds.