Government has granted an exemption to all pension funds in the Domestic Debt Exchange Programme.

The decision was taken on Thursday, December 22, after a crunch meeting held between government and Organised Labour.

A joint statement issued by the Minister for Employment and Labour Relations, Finance Minister and Secretary General of the Trades Union Congress(TUC) said the government in concert with the other parties will explore mutually beneficial options within debt sustainability limits and also promote macroeconomic stability and economic recovery in the spirit of social partnership.

Meanwhile, Organized labour has called off its intended strike which was slated for December 27, 2022.

The intended industrial action was to demand the exemption of pension funds of its workers in the ongoing debt exchange program.