An Independent Remuneration Committee has been appointed to review the recent proposed salary increase of the Central Bank of Sri Lanka (CBSL).
The Committee has been appointed by President Ranil Wickremesinghe, in his capacity as the Minister of Finance, Economic Stabilization & National Policies.
The Independent Remuneration Committee members include Dinesh Stephen Weerakoddy, Arjuna Herath, Dr. Indrajit Coomaraswamy, Sudharma Karunarathne, Anthony Nihal Fonseka, Anushka S Wijesinha, and Duminda Hulangamuwa.
The President appointed the Committee based on the recommendation in the report by the Parliamentary Committee on Public Finance (COPF) on the matter.
The CBSL had increased the salaries of its employees by nearly 70% recently, a move that was heavily criticized by parliamentarians of both the ruling party and the opposition.
At a Parliament session soon after, Prime Minister Dinesh Guanwardena provided a detailed explanation of the salary increase percentages, such as Office Assistant Grade I increased by 29.53 per cent, Office Assistant Grade II by 32 per cent, and Office Assistant Grade III increased by 35 per cent.
Assistant Manager Grade I was increased by 38.9 per cent, Assistant Manager Grade II increased by 41 per cent, Assistant Manager Grade III by 45 per cent, Assistant Manager Grade IV by 89 per cent, and Assistant Manager Grade V increased by 54 per cent.
Salaries of Staff Officer I was increased by 58.83 per cent, SO II by 62 per cent, SO III 1 increased by 66.7 per cent, SO III 2 by 70.16 per cent and SO IV increased by 73 per cent. The Assistant Governor’s salary was increased by 76 per cent and the Deputy Governor’s increased by 76 per cent.
Soon after reports of the salary hike, CBSL officials were summoned before the Party Leaders who inquired about the high salary increases, and were thereafter summoned before the Parliamentary Committee COPF which issued several recommendations, resulting in the temporary suspension of the salary hikes.
At the time when concerns were raised on the salary hikes, the CBSL Executive Officers’ Union issued a clarification, stating that the salary increment was provided under the triennial Collective Agreement entered into with the Trade Unions covering the period 2024- 2026.
The Union highlighted that the collective agreement for 2024-2026 was a result of negotiation between the management and the unions. (NewsWire)
