Date:22/12/2004 URL: http://www.thehindubusinessline.com/2004/12/22/stories/2004122200110800.htm

Back Interest on EPF

This refers to the editorial "Interesting claims" (Business Line, December 18), which has drawn attention to the long delay in taking a final decision on the EPF interest rate. Delay in decision-making reflects on the efficiency, affects the cause of the retiring employees and the image of the ruling party too.

It is true that the question of providing security to millions of workers in the unorganised sector — creating employment generation, implementing work guarantee scheme and the like — requires funds are there. These require fund. So, the government should work in better partnership with the Left and evolve fund-raising means that both agree on.

So, instead of giving in to pressure of the Left after long delay the Government should have had a better bargain with the Left. By giving in concessions in such cases as EPF interest rates they should be able to win the Left to agree to other fund raising means that is in their interest too. And the restructuring of EPFO to prevent future difficulties would also have to be taken up. could have also be taken up with it.

A. Jacob Sahayam

Thiruvananthapuram

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