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Steps are being taken to increase the interest rate of the Employees’ Provident Fund (EPF) from the existing 9% to 13% with effect from 2023, State Minister of Finance Ranjith Siyambalapitiya said.

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The ban on motor vehicle imports is set to be lifted early next year, if recommendations from a committee comprising Treasury officials that the move was required to meet revenue targets set by the International Monetary Fund (IMF) are to be accepted by the Government.

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