DPM Paudel directs EPF to focus on higher investment returns

KATHMANDU: Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel has urged the Employees Provident Fund (EPF) to focus on achieving higher investment returns.

Speaking at a programme in Kathmandu on Monday, marking the 63rd anniversary of the EPF, Finance Minister Paudel emphasised the importance of securing high-yielding investments. He stated, "It is essential to consider investment returns. Investors should ensure high-yielding results and maximise returns."

Highlighting the necessity of optimal investment returns, Paudel stressed the need to broaden the scope of investments. He advised the EPF to move beyond routine operations, prioritising depositors' trust, safeguarding savings, and providing maximum benefits to contributors.

Paudel also mentioned the government's commitment to adopting a lifecycle-based social security system, recognising social security as a governmental responsibility, with the EPF playing a crucial role in its implementation.

EPF Administrator Jitendra Dhital mentioned that the EPF has modernised its service delivery by leveraging its six decades of experience, incorporating international best practices, IT-based operations, a modern banking network, and an efficient management system. Dhital affirmed the EPF's dedication to contributing to the nation's economic development by diversifying long-term financial resources.

During the event, DPM Paudel unveiled the EPF's anniversary edition and honoured long-serving employees with the Dirgha Sewa Padak. Established in 2019 BS, the EPF currently has 575,000 contributors from 33,600 offices.