Features
24-year-old collective agreement had to be honoured and precedents followed: CBSL Governor

Pay hike controversy:
Public concerns won’t go unheeded
‘My pay hike is zero’
Governor’s salary lower than those of many others at CBSL
About 100 central bankers have left for overseas jobs since 2022
Newly-passed CBSL Act had nothing to do with triennial pay revision
by Saman Indrajith
The CBSL (Central Bank of Sri Lanka) pay hike controversy apparently refuses to go away. Hardly a day passes without it being taken up in Parliament or elsewhere. The person in the crosshairs of the critics of the CBSL in general and the pay revision in particular is CBSL Governor Dr. Nandalal Weerasinghe.
Has the CBSL departed from the established procedures, processes and practices in effecting the latest pay increases, which reportedly range from 29% to 70%? Do the Central Bankers deserve the salaries they are drawing? Is it fair for the CBSL minor staffers to be given higher salaries than some senior public officials? Has the CBSL Governor benefited from the controversial pay revision, and is he the highest paid Central Banker? How does he feel when some of his critics bay for his blood, in a manner of speaking?
Despite his hectic workload aggravated by numerous meetings on the IMF bailout programme and other economic recovery measures, Dr. Weerasinghe took time off his busy schedule, on Tuesday, to field the aforesaid questions and some more, in a brief interview with The Island.
Excerpts:
Q: How big is the pay hike you have got as the CBSL Governor from the recent salary revision?
A: My pay hike is zero. I have not received a pay hike from the recent salary revision, which only applies to CBSL employees up to the Deputy Governor level. My salary, as the Governor, is lower than those of many CBSL staff including some officials in lower grades. I have no complaints at all about my salary as I hold this position only due to my desire to help the economy recover from its worst crisis by using my experience and knowledge as a career central banker.
Q: But you are entitled to an attractive pension as CBSL Governor. aren’t you?
A. Although the previous CBSL administration made former Governors eligible for a pension irrespective of the length of their tenure, some of them have refused to claim their entitlement. I have also declared that I will not claim any pension benefits from CBSL for my tenure as Governor CBSL.
Q: However, you never had it so good, as your critics say. You now have an official house, official vehicles and other perks, don’t you?
A: I would not say I have never had it so good. Yes, I am entitled to an official residence, vehicle and some other perks like many other public servants. However, once such perks are added as non-cash benefits for taxation purposes, my take-home salary is significantly lower than my gross salary as caps imposed on non-cash benefits that are usually applied to the salaries of public servants are not applicable to the Governor’s salary.
Q: If you think your position as CBSL Governor is not financially rewarding, why did you return from retirement?
A: After my retirement, I moved to Australia with the intention of spending more time with my family as I could not spend quality time with them during the three decades of my career at CBSL. When I was asked whether I could come back and help the country at its darkest hour, I felt a moral obligation to accept the position, despite knowing that it would be detrimental to my family and financial position, when compared to my earning potential as an independent professional. I believe that any loyal countryman would have made the same decision at that time, given the severity of the situation.
Q: It is being argued in some quarters that the CBSL has been able to grant its employees pay hikes arbitrarily because of the newly-passed CBSL Act, which is believed to have given the CBSL unbridled independence. Isn’t it true?
A: The new CBSL Act has nothing to do with the recent salary revision. Since the establishment of CBSL under the provisions of previous law (Monetary Law Act of 1950) salary revisions have been done by the Board of CBSL. Since 1991, such revisions have been done once every three years. Collective agreements have been used to formalize such revisions since 2000, similar to many other public corporations and private sector entities.
Q: Who decided on the salary revision at issue?
A: In the process of collective agreements, salary revisions are decided based on several rounds of intense negotiations between all trade unions and management with the intention to reach a consensus among all parties. Some trade unions are directly affiliated to the existing major political parties while others are independent, representing only the interests of CBSL employees.
Q: If so, why are you drawing all the flak? And, why don’t you tell the public that you alone cannot be held responsible for that?
A: I believe this news has affected different groups of people in different ways. Some people feel very strongly about it. In such circumstances, it is only natural that I have drawn their ire as the head of the institution and perhaps the most public facing entity of CBSL. My goal is to understand the genuine concerns raised by the dissatisfied groups and to restore trust in the CBSL, and therefore I do not think it is prudent for me to distance myself from the issue and deflect.
Q: If you had not returned to accept the post of CBSL Governor after retirement, and had chosen to work for an international organization after the mandatory cooling-off period, would you have earned more than the salary of the CBSL Governor? It is being claimed via social media that you would have had to settle for an ordinary job in Australia if you had not been called from retirement to head the CBSL. What have you got to say to this?
A: I didn’t have any intention to engage in any full-time job after my retirement from CBSL. At the same time, I didn’t want to waste my knowledge and experience which I gained over three decades. I enjoyed my retirement life by conducting my own research and assisting some multilateral organizations and international firms whenever they sought my expertise on a part-time basis while enjoying time with my family and finding more time to travel. In fact, my retirement life was much more financially rewarding than my career at CBSL even as a Deputy Governor.
Q: Don’t you think the blame for the current economic crisis should be apportioned to the CBSL as well? Isn’t it true that the CBSL failed to warn the government against an impending foreign currency reserves crisis?
A: It is clearly evident in the recent Supreme Court case on the economic crisis that the CBSL officials had warned the then Governors, the Monetary Board and the Ministry of Finance about the impending economic crisis but such warnings were ignored. CBSL officials cannot make public statements or report to the Parliament on their own without permission from the Governor or the Board, under confidentiality clauses in CBSL laws. Such provisions are necessary in CBSL laws to prevent highly market sensitive and confidential information being leaked. Therefore, the CBSL professional staff cannot be blamed for the current economic crisis.
Q: Why do you think the CBSL Executive Grade officers deserve the salaries they draw? Do you think they could earn more if they join the private sector or international institutions? And, how many of them have left CBSL in recent years for better prospects?
A: Only a limited number of university graduates with First Class or Second Class Upper, who score highest at a competitive examination held independently, join the CBSL as Executive Grade officers. They are the top candidates who would easily obtain employment elsewhere if the CBSL salary is not competitive. Once they reach mid-level, they are specially trained for central banking and their special skills give them a wider market reach. Between 2022 and 2024, 100 staff members left CBSL and found employment abroad.
Q: CBSL minor employees draw higher salaries than many senior public officials? Don’t you think this is unfair?
A: I admit that there exists such an anomaly, which has been a legacy issue for two reasons. First, many minor employees were recruited to CBSL between 2008 and 2010 without a rigorous competitive process. Secondly, once they are recruited, they cannot be left out in salary determination in collective agreements as they are also part of staff and members of trade unions.
Q: What have you got to say to those who are out for your scalp?
A: I would like to reassure the public that the recent pay rise planned at CBSL has been conducted in accordance with all proper legal avenues and in the same manner as all other pay rises at the CBSL over its history.
I also want to reassure the people that their concerns will not go unheeded, and I appreciate the voices being raised as we are determined to take this opportunity to review the way we do things. We acknowledge that these are very tough economic times for everybody and there have been ethical issues raised about the timing of these measures, etc. We hope to give these ethical issues the due consideration they deserve.
I believe in the hard-working people of the CBSL and the hard-working people of our nation. I hope that a day will dawn when every worker gets a wage that he or she is satisfied with, including at the institution under my purview and elsewhere.
Q: Don’t you feel hurt when you come under fire?
A: I would say ‘hurt’ is the wrong word to use in this instance. I do sometimes feel disappointed when my energy as well as attention is forced away from the main task that I hoped to achieve when I returned to CBSL. My intention is to work for the betterment of Sri Lanka and support the CBSL staff on that journey. This is why I have been able to make difficult decisions. This is also why I am always open to receiving feedback from genuinely concerned parties. It is, however, an unnecessary diversion of energy and time when it comes from more political and disingenuous quarters.
(The interviewer is Deputy Editor of The Island.)
Features
Shame! Ragging raises its cowardly head again

Ragging at Sabaragamuwa university has resulted in the loss of another student’s life and there is another incident of barbaric attack on an anti-rag student of J’pura university by some students from the same university. Whether the bullies are backed by political parties or not, they show their undeveloped and conformist minds that need urgent refinement; if they are connected to political parties and student unions, the latter show only their vulgarity and duplicity when they wax eloquent about modern education, culture, decadent politics, human rights, corruption and all that jazz. That this barbarous practice continues in broad daylight and under the very nose of university and law enforcement authorities is deplorable and puzzling to say the least. It is ironic that the best minds, the superstars in academia, the leading lights in education and the guardians of all that is progressive have become helpless spectators of this bullying happening in their universities. The ignominious records of rag victims in our country are a crying shame as all those perpetrators have been from that somewhat musty and largely conservative ‘cream of intelligence’ as they are called at all inauguration ceremonies where their egos are pampered.
Ragging in our universities is a sure sign of the backwardness of our culture and education, in comparison with that of civilized societies. The brutal practice of ragging shows that education in our country, both in schools and universities, has a lot of room for improvement about making the undergraduate population sensitive and sensible, more than ‘educated’. Of course, we can understand torture if it is something which happens in the underworld or in any place where the new recruits must be brutaliesed before they are admitted to their circles, but how can one understand when it happens in the highest seats of academia? Professor O. A. Ileperuma has, in his article “Ragging and loss of life” published in The Island of 5 May 2025, stated that some academics turn a blind eye to ragging perhaps “because they themselves were raggers in the past and see nothing harmful in such sordid instances of ragging”. This is pathetic and may perhaps prove some of the accusations that have been made ad nauseum about the lack of a wholesome education in our university system, which is said to be obsessed with mass producing ‘employable graduates’.
As they say, desperate times call for desperate measures. As far as the ragging culture in our universities is concerned, desperate measures are long overdue. In the highest institutes of learning where knowledge is produced and all the progressive and advanced ideas are supposed to be generated, there has been unfathomable brutality, crudeness and conventionality in the name of an acquired beastliness which they call ‘ragging’ to give it a quasi-academic smell when all it amounts to is lack of refinement which can be linked to numerous reasons.
Most of the culprits are the victims of a system which esteems hierarchy where it is accepted that superiority is synonymous with repressive power and inferiority is another term for meekness and passive acceptance of all commands coming from above. It is a mentality which is based on the warped logic that superiority is absurd if the seniors have no right to snub the juniors. Those who have tasted humiliation in one form or another for long due to reasons inherent in society can grow up to be vengeful. Most of these diehard raggers often show signs of this mentality in the way they behave the minute they have been automatically lifted to their pathetic superiority after one year in the university where they enjoy a mistaken sense of immunity from the law. The widely publicised idea of ‘freedom’ associated with universities and their relative aloofness from the rest of society and the aura they have acquired have made them safe havens for the raggers if the unmitigated brutality in ragging over the long years is any indication. The question is why (oh why?) these learned bullies despise civilised behaviour so much in their enclaves of power merely on the strength of one year’s seniority. If it is their one year’s accumulated knowledge which makes them feel superior to the newcomers in an aggressive way, surely, such knowledge is questionable, which must intrigue educationists, psychologists, sociologists and all academics interested in the role of education in character building.
Raggers have been saying ad nauseam that ragging is given to make the new entrants tough enough for academic work. As we know their methods include using foul language, humiliation, intimidation, physical and psychological abuse, torture, beating and forcing rigorous exercises even leading to death. The resultant trauma has led some to commit suicide. All this is done to help the new students with a proven capacity for hard work in the academic field!
However, there are some pertinent questions to be asked. Is this method of building resilience of potential academics backed by research? Should this ‘programme’ be conducted by senior students (who are apparently mentally unsound)? Aren’t there better qualified people to conduct a civilised programme which would help make the newcomers ready to face the trials of academic life? Do they believe that no refined programme can be as ‘effective’ as their ragging? Why should they spend their valuable time doing it when it can be done by experts in a more organised and civilised manner? Have they ever been cultured enough to discuss this so-called ‘personality development’ programme with the relevant authorities and academics, with any reliable evidence to prove its effectiveness?
As we know, these raggers who are self-appointed ‘experts’ in character building of sorts expect total submission from the juniors they try to brutalise, and those who dare resist this bullying are viciously suppressed. To what extent does this compulsory compliance expected from the new students at the beginning of their academic career help them to be better undergrads?
How much more brutality in ragging is to be endured by the new university entrants for “desperate measures” to be called for?
by Susantha Hewa
Features
80th Anniversary of Second World War

One of the most important dates in World War II, is May 9, 1945, when the Soviet red flag with the hammer and sickle emblem was raised over the Reichstag building, the German parliament. This confirmed Germany’s unconditional surrender to the Soviet Union. Since then, 80 years have passed upto May 9, 2025. It is very timely to look back on the past 80 years of history, and to briefly discuss some of the current issues and the future.
Beginning and End of the 2nd World War
World War II began on September 1, 1939, when Nazi Germany attacked Poland. Within a year of the war, the world’s imperialist powers had divided into two camps. Germany was on one side, targeting Europe, Italy Africa, and Japan Asia, while Great Britain, the United States, and France were on the other side of the war.
Within a short time from the start of the war, Germany had conquered many countries in Europe, and on June 22, 1941, Nazi Germany attacked the Soviet Union. The Soviet Union joined the anti- Nazi Allies and launched the “Great Patriotic War” to defend the world’s first socialist state, and progressive forces around the world acted in a way that supported the Soviet Union.
Three major battles known as the Battles of Moscow, Stalingrad, and Kursk turned the tide of World War II, shattering Hitler’s dream of capturing Moscow in a few months (4 months) through Operation “Barbarossa” and celebrating the victory from Red Square. By the beginning of 1945, the entire Soviet Union had been liberated from Nazi Germany, and by March 1945, the Soviet Red Army had surrounded Berlin from the east, south, and north, and then surrounded the entire city, surrendering the German forces, ending the European War of World War II on May 9.
World War II was a major war in which 61 countries, representing 89% of the world’s population participated, and the total number of deaths in this war was 50 million, of which 25-30 million were Soviet citizens. The Soviet Red Army, which ended the Great War for the Liberation of Europe on May 9, 1945, entered the Battle of Manchuria three months later on August 9, 1945, and defeated imperialist Japan. By then, the United States had dropped atomic bombs on Hiroshima and Nagasaki (on August 6 and 9). Thus, the Soviet Union played the major role in defeating the fascist military coalition, including Nazi Germany, during World War II.
Post-World War order
Negotiations, to shape the post-war world order, began while World War II was still ongoing. In talks held in Washington in January-February 1942, in Canada in 1943, later in Moscow, and in Tehran, Iran in November-December 1943, the Soviet Union, the United States, Great Britain, and China agreed to establish an international organisation with the aim of preserving world peace. Later, the Soviet, American and British leaders who met in Yalta in Crimea agreed on the structure of the United Nations, the Security Council, and the veto power, and the United Nations Charter, signed by 50 countries in San Francisco in 1945, came into force on October 24, 1945.
Rise of Socialist world and collapse of colonialism
With the Soviet victory in World War II, the world underwent unprecedented changes. Although Mongolia was the only socialist state other than the Soviet Union at the start of World War II, after that war, Czechoslovakia, Poland, Romania, Bulgaria, Hungary, Yugoslavia, and Albania in Eastern Europe also became socialist countries. The Democratic Republic of Vietnam was established in 1945, and in 1947 a socialist state was established in East Germany under the name of the German Democratic Republic. The Chinese Revolution triumphed in 1949, and the Cuban Revolution triumphed in 1959. Thus, the socialist system established in a single country by the October Revolution in 1917 developed into a world system against the backdrop of the unique victory of the Soviet Union in World War II.
Another direct result of the victory in World War II was the collapse of the colonial system. National liberation struggles intensified in Asia, Africa and Latin America, and new independent countries emerged one after another on these continents. In the 25-30 years that followed the end of World War II, the colonial system almost completely collapsed. The United Nations, which began with 50 member states, now has 193 members.
With the end of World War II, working class struggles intensified. Communist parties were formed all over the world. Although the Sri Lankan working people’s movement was in a state of truce during World War II, the war ended in May 1945 and by August it had gone on a general strike. The 8-hour workday, wage boards, holiday systems and monthly salary systems were won through that struggle. The working class movement in this country was able to win many rights, including pension rights, overtime pay, and other rights, through the general strike held in 1946. Although the general strike of 1947 was suppressed, there is no doubt that the British government was shocked by this great struggle. In the elections held in 1947, leftist and progressive groups were elected to parliament in large numbers, and independence with Dominion status was achieved in 1948.
World is in turmoil
Until this era, which is 80 years after the end of World War II, the world has so far managed to prevent another world war. Although there have been no world wars, there have been several major conflicts around the world. The ongoing Middle East conflict over the forced displacement of the Palestinian people, the conflict created by Western powers around Iran, the Russia-Ukraine conflict, and the recently escalating Indo-Pakistan conflict are among them. The limited military operation launched by Russia to prevent the NATO organization reaching its borders, has transformed into a battle between Russia and the collective West. But the conflict now seems to have entered a certain path of resolution.
Several parties have launched trade wars that are destabilising the world, perhaps even escalating into a state of war. Thousands of trade sanctions have been imposed against Russia, and the US President has declared a trade war by imposing tariffs on dozens of countries around the world.
Meanwhile, the world has not yet been able to provide a satisfactory solution to the problem of global warming, which has threatened the existence of the entire human race.
The Bretton Woods Organizations (International Monetary Fund and World Bank), which were economic operating institutions established after World War II, have not only failed to lead the world’s economic development, but there is a strong allegation that the guidance of those institutions has exacerbated the economic problems of newly independent countries.
At this time of commemoration of the 80th anniversary of World War II, it is our responsibility to resolve the above problems facing the people of the world and to dedicate ourselves to the future of humanity.
Way forward
Accordingly, a futuristic, new economic order is emerging, and a multipolar world has been formed. The most important point to emphasise here is that the world order that was established after World War II, which encompasses various fields, is a system jointly developed by the great powers that won that war, and the reforms that need to be made in accordance with the demands to change this world order to suit the current reality must be identified collectively. No single country can change these world structures.
People are rallying all over the world for issues related to the survival of the entire human race, such as controlling global warming. New programmes that contribute to the economic development of most countries in the world have been or are being developed. The New Silk Road projects, the BRICS organisation, the New Development Bank, the Asian Infrastructure Investment Bank, and the Shanghai Cooperation Organization are such programs/new institutions. A global process has been launched to prevent a nuclear war and maintain world peace.
Many of the above-mentioned issues and problems have arisen through imperialist military and economic planning and operations, and therefore, the contradiction between imperialism and the people has become the main contradiction of this era. Therefore, it must be emphasized on the 80th anniversary of the Second World War that the way forward in the world will be through the people’s struggle against imperialism.
by Dr. G. Weerasinghe
General Secretary, Communist
Party of Sri Lanka
Features
New Mayors; 80th Anniversary of VE Day; Prince Harry missteps yet again

This week’s Cry is put together as the voting goes on for mayors of Municipal Councils. Cass is rather confused about this second tier of government, so she googled and here is what she got: “There are currently 29 municipal councils in Sri Lanka. These councils govern the largest cities and first tier municipalities in the country. The local government system also includes 36 urban councils and 276 Pradeshiya Sabhas.” Not that this has made matters clearer to Cass.
She believes that for a small country of 22 m people, we are too heavily governed from above, with a central government and then all these councils and sabhas below. Consider the number employed in them; most underworked and underworking. Another matter is that if you want a matter seen to, regarding property rates, etc., you are most often sent from this Sabha to that council.
This came about with the 13th Amendment to the Sri Lanka Constitution introduced on November 14, 1987, following the Indo-Sri Lanka Accord, which aimed to address the ethnic conflict by granting some autonomy to provincial councils. As Cass believes it was imposed on us by India after the threat expressed by India, instigated by Tamil Nadu, when Prabhakaran in his military childhood, was cornered and almost captured in Vadamarachchi.
India rained parippu on the northern peninsular, demanded no arrests of LTTE; and it was rumoured Indian forces were poised on the southern and south eastern coasts of the subcontinent ready to sail to war to the island below them. PM Rajiv Gandhi came instead; Prez JRJ was constrained to meet, greet and honour him. One rating in a guard of honour which handsome Rajiv inspected, expressed the majority people’s opinion; “We don’t want you here!” After which guards of honour worldwide are kept strictly at a safe distance from the VVIP honoured.
To Cass the most important fact of the election progressing now and its outcome is that she hopes newly elected mayors will insist on the Municipal Councils’ employees doing the work allotted to them: mostly garbage collectors; sprayers against mosquitoes; PHIs inspecting kitchens of eating houses and those in charge of general cleanliness of cities keeping s clean.
Complaints are numerous that roads are dirty, garbage piled up and drains and small waterways clogged so water remains stagnant and thus the rapid spread of most debilitating chikungunya.
May 8 1945 – VE Day
This date marked Victory in Europe. “… after Britain and its allies formally accepted Nazi Germany’s surrender after almost six years of war. At 15.00, the then Prime Minister Winston Churchill announced World War Two in Europe had come to an end.” Allied Forces marched into Germany from west and South and the Russians entered from the north. Hitler committed suicide and the Nazi so far invincible forces were shattered, battered and splintered. It was Emperor Hirohito who surrendered Japan and himself on August 15, 1945, after the Hiroshima and Nagasaki bombings (Aug 6,9).
Thus, this year is the 80th anniversary of the end of World War II and Britain brought out its Palace Guards, forces and cheering crowds to celebrate the event, and more to pay homage to veterans still living and extend gratitude to those soldiers, sailors and airmen and women who laid down their lives to save their country. King Charles III was present in a special seating area which had other members of the royal family; politicians and veterans and their families, while some of those who had served in the war rode in open cars to the cheers of the spectators.
The Netherlands and Canada too mounted celebrations. Canada made it a point to pay allegiance to the British Monarch as their head, and Cass feels sure King Charles III reciprocated with acknowledgement. Commented on were video statements Cass heard that this reiteration was for the benefit of Prez Trump with his plans to annex Canada as the 51st State of the US.
Prince of groans and complaints
In the midst of this pageantry and show of British royal family’s unity was Prince Harry cutting a very poor figure of himself, most in an interview given to the BBC after he lost his British Court of Appeal challenge over his security arrangements. “The Duke of Essex, who attended both days of the hearing at the Royal Courts of Justice last month, was appealing a ruling dismissing his challenge to the level of police protection he receives in the UK” He was demanding armed security for himself and his family if and when they visit England. This was refused because of his own withdrawal from royal duties, opting not to be a working member of the British Royal Family; and moving to the US to live. Videos Cass watched tore him to pieces on several counts. He said he could not bring his wife and children to Britain. He said he wanted reconciliation but his father would not speak with him. Then the blunder of adding the sentiment that King Charles’ days on earth were numbered. “We don’t know how long he has to live.”
He was very annoyed with a compere of a British late-night show for referring to him as Harry with no Prince or Duke salutation. He and his wife are not allowed to use HRH by King Charles’ orders, but it was said Meghan loves using the title. Here is a straightforward case of wanting and not wanting something, of utter selfishness and gross grasping.
Local news in English
Cass bemoans the fact she is no longer able to watch MTV News First at 6.30 of a morning. MTV late news in English is at 9.00 pm but it was repeated the next morning. Served lots, I am sure. In Cass’ case the TV set is monopolised by the two helpers she has with her. They watch teledramas on various channels all through the late evening almost to midnight. Can she butt in? Never! They need entertainment. So, no local news for her these days until she goes to another TV channel for news in English – few available. She hopes TV One will resume its news relay in English at 6.30 am after the welcome chanting of pirith.
Cassandra wishes everyone and our much-loved country a continuation of the peace of Vesak. Oneness of the people as good persons was demonstrated in the crowds in Kandy recently. Mosques opened their doors wide to let in anyone and everyone come in and sleep. All races supplied food and water. Such unity was not seen before. A propitious sign for the future.
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