Business
Current ‘discourse’ on CBSL salary revisions ‘extremely partial and based on personal agendas’
We, the Central Bank Executive Officers’ Union (CBEOU), as a professional union representing the Executive Officers of the Central Bank of Sri Lanka, wish to clarify some facts, as it was evident that the discourse on the recent salary revision of the Central Bank of Sri Lanka is extremely partial and raised without proper knowledge of the facts and / or based on mere personal agendas, the CBEOU said in a press release.
The release signed by the Union’s General Secretary M.N.P. Jayaweera and president, D.J. Perera, explains: ‘Central Bank of Sri Lanka was established as an independent institution since its inception. Accordingly, the previous Monetary Boards as well as the current Governing Board have been assigned the decision-making independence related to administration on a logical basis and that administrative independence remains the same for other central banks around the world.
‘Accordingly, since the inception, the Monetary Board decided the recruitment procedures, professional training and salaries related to the Central Bank service. It should also be mentioned that neither the previous Monetary Boards or the present Governing Board include the employees of the Central Bank, and that the members of the Governing Board are scholars and professionals in a variety of fields of the country. Considering the corporate governance practices, salary revisions have been done in every three years in the Central Bank of Sri Lanka for several decades as similar to certain state sector establishments.
‘The 2024-2026 collective agreement is an agreement reached by all parties after several rounds of bargaining between all the unions and the Governing Board of the Bank. Accordingly, all parties are bound to work under the terms of the collective agreement for the next three years.
‘It is no secret to society that salaries in the Central Bank of Sri Lanka are at an elevated level compared to other government services. Also, the Central Bank of Sri Lanka, which is the apex financial institution in the financial system that supervises licensed banks and registered non-bank financial institutions, must be compensated competitively in line with the institutions they supervise, in order to discharge their duties without influence. Due to this situation, the educated youth community of this country is eager to leave jobs in the government as well as private sector to join the Central Bank service. Students with a First or Second Upper-Class degree in a limited range of subjects are recruited to the Central Bank staff class after passing a highly competitive examination and interview(s). It is also a known fact that the passing percentage is exceptionally low for this entry examination.
‘Furthermore, unlike other government employees, there are many other limiting factors including legal barriers that make it impossible for the Central Bank professionals to use their professional qualifications to set up private practice. Since, the Central Bank is not a commercial institution and is a closed service, the promotion opportunities available to Central Bank employees are rather limited.
‘It is a generally accepted opinion that if there are limiting factors related to a service, a specific payment (compensation) should also be made related to that service. Further, the salary of a particular job is determined based on the responsibilities pertaining to its delivery, the qualifications to be met and the demand/supply for the job in the labor market. Based on the knowledge and practice of central bankers, their potential job market will be the financial sector or monetary policy making within or outside the country. In the past year alone, the Central Bank of Sri Lanka has lost nearly a hundred officers of its wealth of human capital, and the fact that some have joined international organizations including the World Bank and its affiliates, Bank of England, and the Commonwealth Secretariat, etc. is a confirmation of such movements.
‘If this salary revision did not take place, a considerable number of the remaining officers would have left the Central Bank of Sri Lanka as well as the country and the Bank’s activities could have been severely disrupted. It is such a pity that the ongoing criticisms utterly disregard this reality. It is not clear why those who raised their voice over the possible brain drain in the past are raising their voice against the measures taken to prevent it from happening.
‘Moreover, in a backdrop of no revision of pensions, the fact that the pensions of Central Bank pensioners have been increased by about 70% is a complete fallacy, and it is apparent that such news was purposely planted in the society to tarnish the image of the Central Bank of Sri Lanka in the face of personal agendas of certain parties.
‘For the progression of a society, existence of rational discourse is beneficial, but we can clearly observe the political and personal agendas operating under the guise of the one-sided dialogue in the society at present. In view of the inflation and existing tax burden in the country, private institutions including some private banks have taken various measures to avoid the inconvenience caused to their employees, and it is the opinion of our union that salaries should be revised in other sectors including government institutions.
‘Even though it has been proclaimed through a Supreme Court decision as to who holds responsibility for the country’s economic crisis, basis for accusing the Central Bank officials as “economic hit men”, should be explained by the so-called politicians before the society. Similarly, if there are (or were) such officers, there is no impediment in taking appropriate disciplinary actions against such individuals through an independent investigation and such an independent investigation process will definitely receive the fullest support of our professional Union.’
Business
Beyond arrivals: Can tourism and hospitality power Sri Lanka’s next growth phase?
The Australian High Commission in Sri Lanka recently hosted the latest edition of its ConnectED Thought Leadership Series at the Australian High Commissioner’s Residence in Colombo, bringing together senior leaders from Sri Lanka’s tourism, hospitality, travel, events, education and related sectors.
The discussion, themed “Beyond Arrivals: Can Tourism and Hospitality Power Sri Lanka’s Next Growth Phase?”, focused on the role of tourism and hospitality beyond visitor arrival numbers, examining how the sector could contribute to Sri Lanka’s broader economic development.
The distinguished panel comprised Shiromal Cooray, Chairman and Managing Director of Jetwing Travels; Angeline Ondaatje, Chairperson of Tangerine Beach Hotels PLC, Royal Palms Beach Hotels PLC and Tangerine Tours; and Grant Dreher, Chief Executive Officer of William Angliss Institute Australia.
The discussion was moderated by Wayne Crosbie, Director – International and Business Development, William Angliss Institute Australia, who facilitated the conversation around the evolving needs of the tourism and hospitality industry and the importance of connecting education, skills development and workforce readiness with industry demand.
Adding a practical and experiential dimension to the evening, students from the Colombo Academy of Hospitality Management (CAHM) played an active role in delivering the cocktail reception for the distinguished guests.
Business
SL’s ‘Global Destination Marketing and Communication Campaign’ gets into top gear
A high-level discussion on the implementation of Sri Lanka’s Global Destination Marketing and Communication Campaign, supported by the World Bank, was held at the Ministry of Foreign Affairs, Foreign Employment and Tourism. The initiative marks a significant step towards strengthening Sri Lanka’s position as a competitive and attractive destination in the global tourism marketplace.
The meeting focused on the importance of adopting a long-term, data-driven approach to destination marketing, underpinned by comprehensive analysis of tourism demand and supply trends, visitor behaviour, destination branding, and international marketing strategies. Discussions also highlighted the need for a transparent procurement process and institutional capacity-building to ensure the successful implementation and sustainability of the campaign.
Participants welcomed the technical expertise and strategic guidance to be provided by MTI Consulting and Skift Inc./JD, whose support will contribute to the development and execution of a globally competitive destination marketing programme. Through strong collaboration between public and private sector stakeholders, the initiative seeks to establish a sustainable roadmap to guide Sri Lanka’s tourism promotion efforts and enhance the industry’s competitiveness in key international markets.
The campaign is expected to play a vital role in strengthening Sri Lanka’s tourism sector, supporting increased visitor arrivals, generating economic opportunities, and contributing to broader national economic growth.
The discussion was attended by Aruni Ranaraja, Secretary to the Ministry of Foreign Affairs, Foreign Employment and Tourism; Chairpersons and Chairmen of tourism institutions under the Ministry; representatives of SLAITO, TAASL, the Tourism Advisory Committee, the World Bank, MTI Consulting, and Skift Inc./JD; as well as H.P. Somathilaka, Director General of National Planning.
Business
Labour shortages are pushing Plantation Companies towards machines, data and a different kind of worker
Sri Lanka’s plantation sector is entering a new phase of transformation, as technology and innovation reshape how estates operate, manage resources and sustain productivity. Across the country’s tea estates and other plantations, machines are increasingly complementing skilled workers in tasks once done almost entirely by hand, while software and data bring new precision to decisions traditionally guided by experience.
Automated harvesters, pruning machines and drones are being deployed alongside GIS mapping, digital weighing systems and enterprise software. Though the technologies vary, they point to a common shift: plantations are finding smarter ways to meet rising demands with a changing workforce.
Mechanisation, however, is not without challenges. Sloping terrain, fragmented fields and crop variability limit where machinery can be effectively deployed. Still, as operating costs rise and labour availability tightens, the ability to combine human expertise with technology is becoming essential to sustaining productivity, competitiveness and the long-term viability of the industry.
Addressing the labour shortage
Sri Lanka’s plantation companies face a labour market that has changed from the one on which the industry was built. Migration, demographic changes and attraction from other sectors have made it increasingly difficult to retain workers for plantation work.
That is why mechanization is spreading beyond the most obvious applications. At Bogawantalawa Tea Estates PLC, machinery is being used for land preparation, pruning, weeding, harvesting, and agrochemical application. Selective machine harvesting and mechanical pruning have been introduced in tea, while mechanized and semi-mechanized methods are being extended to other crops.
Agarapatana Plantations PLC has taken a similar approach. Fuel-powered and battery-operated harvesters are being used in the field, while backhoes assist with uprooting and levelling new clearings. Drones are being deployed for foliar spraying. In factories, automation and energy efficient machineries are being introduced where production volumes justify the investment.
The changing face of plantation technology
Beyond mechanisation, plantations are steadily evolving into data-driven businesses, with RPC’s increasingly adopting technologies that are reshaping day-to-day operations. Agarapatana Plantations is rolling out automated green-leaf weighing systems with facial recognition and planning fertigation-based irrigation. Ten factories already operate on solar power, with six of them being carbon neutral.
Likewise, Elpitiya Plantations PLC has introduced Ballotronix tea-leaf readers to assess leaf composition, supported by iHarvest and Microsoft Dynamics 365 Business Central, giving managers real-time visibility across thousands of hectares.
Talawakelle Tea Estates PLC has similarly pursued transformation since 1992, introducing hot-water boilers across all factories from 2008, electronic weighing with real time data collection since 2015, as well as tablets, computers and a new payroll system for employees. Rooftop solar along with three in-house hydro power plants located in Palmerston, Radella and Somerset estates provide renewable energy. State of the art, modern colour separators have been provided to its Low Grown factories. Since 2025, drones are been used for chemical/ foliar spraying. These developments highlight how the plantation sector has steadily embraced technology for greater efficiency and sustainability.
The technological shift does not stop at the edge of the field as factories are becoming increasingly automated, giving special emphasis to energy efficient equipment. At Elpitiya, more than 80% of their factories are mechanized with state of the art machineries, with the intention to raise both capacity and efficiency.
On the other hand, Malwatte Valley Plantations PLC illustrates another possibility. After expanding its cinnamon cultivation, the company encountered a shortage of skilled peelers. Its engineers responded by developing and patenting cinnamon-peeling machinery.
That is more than a labour-saving exercise. It shows how a constraint can encourage technological innovation- and potentially allow an industry to expand beyond the limits imposed by the supply of specialised labour.
The company is also investing in automated factory systems and machinery for “matcha” production. Technology, in this case, is being used not merely to reduce costs but to strengthen value addition to products.
Machines will not make workers obsolete
Workers are being trained to use harvesters, pruning equipment and spraying machinery, while new roles are emerging around upkeep, data collection and digital reporting.
Horana Plantations PLC, for instance, has introduced machine plucking to address labour shortages. The company reports improvement in yields, consistency and labour productivity, while technology-driven harvesting has also been used to make plantation work more attractive to younger workers.
“Technology has become a prerequisite requirement for the plantation sector as we deal with labour shortages and the need to improve productivity,” Secretary General of the Planters’ Association of Ceylon, Lalith Obeyesekere stated. He noted that priority should be given to technologies suited to Sri Lankan conditions, supported by training and enabling workers to use them effectively. “That is a more useful way of thinking about mechanisation than simply counting the jobs a machine might replace”, Obeyesekere went on to note. He is confident that these changes will raise the productivity and profitability in the sector.
The next harvest
The direction of travel is becoming clearer. Precision agriculture, digital crop forecasting, automated weather monitoring, smart irrigation, digital traceability and further mechanisation are likely to become more common.
That does not mean the end of the plantation worker, nor the disappearance of generations of agricultural knowledge. It means that both will increasingly operate alongside technology.
For an industry whose competitiveness has long depended on its ability to extract value from land and labour, the new imperative is simpler: create more avenues, waste less and make each worker- and each hectare- more productive.
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